Banks to auction Great Indian Tamasha Co assets

IDBI Bank has put on sale properties of Great Indian Tamasha Company Ltd, which is the corporate guarantor of Great Indian Nautanki Company, to recover defaulted loans, or non-performing assets (NPAs), worth over Rs 148 crore taken from IDBI Bank, HDFC Bank and Bank of Baroda.

The immovable properties, which will be sold through an e-auction next month, are located in Karnataka’s Kodagu district, according to a public notice issued by IDBI Bank. Great Indian Nautanki Company owes IDBI Bank Rs 86.48 crore, HDFC Bank Rs 6.26 crore and Bank of Baroda Rs 49.23 crore. “The dues of IDBI Bank outstanding as of May 1, 2022, stand at Rs 92.69 crore plus interest thereon with effect from May 2, 2022,” the notice said.

The guarantors and directors of the company were Anumod Sharma, Anu Appaiah, Sanjay Choudhry, Viraf Sarkari, SG Investments, Great Indian Tamasha Company and Wizcraft International Entertainment Pvt Ltd, the notice said.