Madhusudan Securities Ltd — Important, 18-08-2025: Company Update

Here are the summaries of the announcements:

ICICI Bank has initiated asset recovery, issuing a symbolic possession notice for a mortgaged property in Malad, Mumbai, following a loan default by Avadumber Agro Services and its guarantors. The outstanding amount is Rs. 1.18 Cr. The bank recently took possession of the property under relevant recovery provisions. The public is cautioned against any dealings with this property, as it remains under the bank's charge. Should the dues not be cleared within 30 days, the property will proceed to sale.

Madhusudan Securities has disclosed its financial results for the quarter. The company reported a net loss of Rs. 14.28 Lakhs, with total income from operations at Rs. 1.18 Lakhs. The company has acquired over 50% holding in Compliance Kart Private Limited, with legal processes in progress. As part of its financial standing, equity share capital is Rs. 10.46 Cr, and reserves are Rs. 27.80 Cr. The company's primary business involves trading in securities.

Central Bank of India has announced an e-auction for a property in Vashi, Navi Mumbai, to recover outstanding dues from Umesh Dadu Tole and others. The current outstanding amount stands at Rs. 1.04 Cr, which includes interest and expenses. The property, Flat No. 102, Sun Flash Apartment, has a reserve price of Rs. 73.50 Lakhs. Bidders must submit 10% of the reserve price as Earnest Money Deposit. The sale is on an "as is where is" basis, aiming to recover the certificate debt.

LIC Housing Finance has taken physical possession of a mortgaged property located in Badlapur, Thane, due to default on a loan by Mr. Milind Prabhakar Tartate. The demand notice for Rs. 97.30 Lakhs was issued earlier, but the borrower failed to make payments. The company has now taken possession of Flat No. 003, Govind Dham CHS, under relevant recovery provisions. The public is advised against any transactions involving this property, as it is subject to the company's charge for the outstanding dues.

Bank of Maharashtra, Navi Mumbai Zone, has announced an e-auction for a vehicle, a Tata Punch ADV, to recover outstanding dues from Mr. Akash Vaishya. The total amount due, including interest and charges, is Rs. 4.96 Lakhs. The vehicle has a reserve price of Rs. 3.84 Lakhs, with an Earnest Money Deposit of 10% required. The auction is conducted on an "as is where is" basis. This action aims to recover the defaulted loan, as borrowers failed to repay despite repeated notices.

State Bank of India's SME Centre Mumbai has announced a public auction for ten impounded vehicles, including tourist vehicles, food vans, and an auto-rickshaw, to recover dues from defaulting borrowers. The auction requires a 10% Earnest Money Deposit based on the reserve price, which ranges from Rs. 45,000 to Rs. 7.50 Lakhs per vehicle. Bids will increase by Rs. 5,000. These vehicles are being sold on an "as is where is" basis. This move aims to recover outstanding loan amounts from the borrowers.