India, May 16 -- The corporate office of Essel Group, the Indian media conglomerate, at Lower Parel has been put up for sale, with seven floors at Marathon Futurex owned by one of the group companies set to go under the hammer at a reserve price of Rs.650 crore.

According to LIC Housing Finance Limited, the lender has taken symbolic possession of the premises, while Essel Group owed a little over Rs.696.85 crore as of April 22.

"...under Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Security Interest (Enforcement) Rules, 2022 had issued demand notice to the borrowers/ mortgagors/ guarantors calling upon them to repay the outstanding due amount..." read the auction sale notice ...