Union Bank of India Takes Possession of Kallam Textiles' Hyder Power Project Under SARFESI Act

Union Bank of India has taken possession of Kallam Textiles' Hyder Power Project located at Kotha Kothuru Village, Nelakondapalli to Bhairavunipalli Road, on NSP 16'' Branch Canal, with a capacity of 2.0 MW, Khammam District, Telangana. The possession notice was served under section 13 of the SARFESI Act read with rule 8 of the said rules, following the borrower's failure to repay an amount of Rs. 185,35,71,199.66 within 60 days from the date of receipt of the notice. The immovable property includes non-agricultural land and canal with powerhouse with ACC roof shed and control room, office and staff quarters with RCC building, canal bottom and side lining with RCC established in Ac. 17.79 cents or 7.20 Ha.