Chennai-based actual property agency, Siva Shelters & Building has settled it’s dues with IL&FS Monetary (IFIN) by making a fee of Rs 80 crore to the agency earlier than December—finish deadline.
IFIN, a subsidiary of IL&FS, the bankrupt infrastructure financing and building firm, had disbursed Rs 50 crore as mortgage to SSCL.
The mortgage—a part of a sanctioned Rs 175 crore—was secured by the use of an unique registered mortgage over roughly 17 acres of land parcels in Chennai.
