Mumbai, July 21 -- Central Bank of India has initiated the sale of Wadia Realty Pvt Ltd's 94.71-acre land parcel in Thane through an e-auction as lenders step up efforts to recover dues from the now-defunct Go Airlines India Ltd, also known as Go First, which is under liquidation, according to the auction notice.

The state-owned bank, acting as the authorised officer on behalf of a consortium of secured lenders comprising Central Bank of India, Bank of Baroda (including erstwhile Dena Bank) and IDBI Bank, has scheduled the e-auction for 20 August under the provisions of the SARFAESI Act.

According to the sale notice issued by the bank, the lenders are seeking to recover Rs.3,918.54 crore, representing the principal and interest outstand...