Piccadily Agro Industries Limited Faces Possession Notice for Immovable Property
Piccadily Agro Industries Limited has received possession notices for immovable properties due to loan defaults. CFM Asset Reconstruction Private Limited has taken possession of a property in Mohali for an outstanding amount of ₹17.23 Lakhs as of Oct 2019. Other notices from DCB Bank, Poonawalla Fincorp, and Edelweiss ARC involve properties in Ludhiana and Panipat.
Possession notices for properties are significant events that can lead to loss of assets and severely impact a company's financial standing and operations.
The announcement details possession notices for immovable properties due to loan defaults, indicating a negative financial situation for the borrower.
Piccadily Agro Industries Limited has been served with a possession notice concerning an immovable property. This notice is issued under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARF AESI) Act, 2002. The notice indicates that the property has been taken possession of due to failure in repaying a loan.
The notice details a loan account with an outstanding amount of ₹17,22,688/- as of 11.10.2019, along with applicable interest and charges. The property in question is Residential Flat No. H-403, measuring 1279 Sq. Feet, located in Sector-115, Greater Mohali, Mohali, Punjab. The possession was taken on 15.05.2026. Borrowers are cautioned against dealing with the property, as any transactions will be subject to the charge of CFM Asset Reconstruction Private Limited.
Additionally, the announcement includes details of another property possession notice issued by DCB Bank Ltd. for a property located in Ludhiana, Punjab, with an outstanding amount of ₹18,30,060.19 as of 22nd November 2025. Another notice from Poonawalla Fincorp Limited (formerly Magma Housing Finance Ltd.) pertains to properties in Ludhiana, Punjab, with a total outstanding amount of ₹74,35,261/- as of 22.04.2026.
Furthermore, Edelweiss Asset Reconstruction Company Limited has issued a possession notice for properties in Panipat, Haryana, with an outstanding amount of ₹39,18,594.88 as of 29.03.2023, with possession taken on 18.05.2026. The notices collectively highlight the enforcement of security interests due to loan defaults.
What to do with a filing like this
Piccadily Agro Industries Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Piccadily Agro Industries Limited. Read the original for the full detail.