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Rare Asset Reconstruction Ltd acquires financial assets of Impex Ferro Tech Limited from SBI

Posted On: 2021-09-27 15:32:14 (Time Zone: IST)


Rare Asset Reconstruction Ltd. ('RARE'), vide their letter dated September 10, 2021 (copy enclosed), has advised that pursuant to an Assignment Agreement (AA) dated 8th September, 2021, they have acquired the financial assets of our Company together with all underlying security interest and all its rights & title and interest and benefits in respect therein from State Bank of India (SBI).

Rare ARC has become entitled to recover from the borrower, the total dues of SBI along with interest at contractual rates, further interest and other charge from the said date till date of realization. Please treat this letter as a notice intimating you of the Assignment of Debt from SBI and the financial documents including guarantee and security documents together with all rights, benefits and obligation there under to Rare ARC.


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