SIDBI Sale of Properties: Assets valued up to Rs 3 Crores offered for Recovery
Small Industries Development Bank of India (SIDBI) announced a sale of properties in recovery of dues owed by M/s 7 Seas Laminates Private Limited and other guarantors. The auction was conducted by the Authorized Officer of SIDBI on August 27, 2026, concerning assets secured against a debt of Rs 3,83,81,160.84.The sale pertains to the properties of M/s 7 Seas Laminates Private Limited and several guarantors including Shri Bhaveshbhai A. Patel, Shri Apostleskumar P. Patel, Shri Prakashkumar R. Mistry, Smt Ashaben Bhaveshbhai Patel, Smt Kokilaben Ashokbhai Patel, and Smt Unnatibel Apresnrinar rater tomectors.
The auction included both movable and immovable assets related to the financed entity. The materials available for sale were identified as finished sheets and decorative items.
Details regarding the properties and financial aspects of the sale are presented below:
| Asset Category | Valuation (Rs.) | Notes |
|---|---|---|
| Movable Assets | 15,00,000/- | Separately valued for bid |
| Combined Assets (Movable and Immovable) | 3,07,00,000/- | Reserve price for the combined sale |
The repossession action was initiated by SIDBI to recover the outstanding debt amount of Rs 3,83,81,160.84. The sale notice specified that the assets were offered "as is what there is" and "whatever there is," as per the guidelines for securing financial asset recovery.
PANAMAPET Stock Price Movement
As of 12:58 PM, shares of Panama Petrochem Limited are slipping by 0.25% in live trading, currently sitting at ₹499.5. This stock has previously highlighted its strong market standing after achieving a 52-week high of ₹518.5 while generating robust traded volume of 832,699 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.