DCB Bank Issues Demand Notices for Non-Performing Assets Against Multiple Borrowers
DCB Bank Limited has issued formal demand notices under Section 13(2) of The Securitization And Reconstruction Of Financial Asset And Enforcement Of Security Interest Act, 2002 (SARFAESI Act), targeting three separate borrowers who have defaulted on their loan facilities. The notices were issued to recover outstanding dues against the mortgaged properties.The bank has initiated these actions after classifying the associated loans as non-performing assets (NPA). A detailed breakdown of the involved parties, the secured assets, and the demanded amounts is provided below.
| Loan Account No. | Borrower/Mortgagor Details | Demand Notice Date | Demanded Amount |
|---|---|---|---|
| DRHLMUM00413420 | Mr. Amrendrakumar Jiwachh Sharma, Mrs. Savita Amrendrakumar Sharma and M/S. Sun Medical & General Store's Authorised Signatory | 20-05-2026 | Rs. 21,59,252.75/- |
| DRHLMMO00547398 / DRBLKAL00636027 | Late Mr. Mohammed Salim Mohammed Hanif Khan, represented by his Legal Heirs including Mr. Kashif Mohammed Salim Khan and Mrs. Nasreen Mohammed Salim Khan | 20-05-2026 | Rs. 32,39,059/- |
| DRBLKAU00614499 | Mr. Manoj Baba Gupta, M/S. Gupta Motors' Authorised Signatory and Mrs. Mandakini Baba Gupta | 20-05-2026 | Rs. 23,85,812/- |
The properties mortgaged in relation to these loans are described as secured assets for the bank. For the first loan, the collateral includes Flat No. 403, located on the 4th Floor of the Galaxy Complex Co. Operative Hsg. Soc. Ltd., situated at Mumbra, Thane District.
For the second loan, the mortgaged property is Flat No. 1601, a residential unit in Valley Premium, situated in Kausa, Thane District.
The third set of borrowers' collateral involves a flat located in Riddhi Siddhi Complex, near Sai Baba Mandir Internal Road off Kalyan Bhiwandi Road, Thane District.
Borrowers and co-borrowers have been instructed to make payment of the demanded amounts along with interest within 60 days of the notice. The notice stipulated that failure to comply would lead to enforcement action under the relevant Act. Furthermore, it noted that borrowers are restricted from transferring the secured assets through sale or lease without the bank's consent.
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