State-owned Bank of Maharashtra (BoM) has put on sale movable and immovable properties of Unity Appliances, a unit of debt-ridden Videocon Group, to recover Rs 153.77 crore loan. The outstanding dues of the Unity Appliances Ltd are over Rs 153.77 crore, plus interest, from January 5, 2018. The company situated at SIPCOT Industrial Complex Sivagangai Tamil Nadu manufactures air conditioners and LE and LCD Television.
Videocon Industries and its promoter Venugopal Dhoot and P N Dhoot are guarantors to Unity Appliances, as per the public notice put out by BoM. The electronic auction for land and machinery is slated for March 30, 2019, with a reserve price of Rs 42.34 crore for land and Rs 72.82 crore for plant and machinery. This is the second time the bank has issued e-auction notice for Unity Appliance Ltd.
