India, March 14 -- Three high-value properties on Mumbai's upscale Nepean Sea Road, including two apartments linked to the Videocon Group, have been put up for auction by banks seeking to recover outstanding dues.

Two of the properties belong to Videocon Industries and are located at Videocon House, also known as Vissanji Estates Co-operative Housing Society, situated at the southernmost end of Nepean Sea Road. The adjoining apartments, located on the first floor, have been merged into a single residential unit with a carpet area of 7,688 sq ft and a super built-up area of 9,994.40 sq ft.

Bank of India has put the merged apartments up for auction with a reserve price of Rs.65.96 crore. Based on the carpet area, the reserve price works o...