Ind Bank Housing

Ind Bank Housing Ltd., incorporated in 1991, is a housing finance company that is currently not originating new business and is focused on its existing loan portfolio. Following the cancellation of its registration certificate by the RBI, the company's sole objective is to recover outstanding loans from borrowers as permitted. Its core strategy involves an aggressive recovery process, utilizing continuous follow-up of legal proceedings to expedite the realization of existing housing loans. The company has completely stopped providing new loans to customers since the year 2000 and presently operates only to recover its outstanding receivables. As a recognised financial institution, the company is empowered to use the SARFAESI Act, which aids in the recovery of dues from customers. The company's financial position has been challenging, with its Net Owned Fund turning negative in 2016 due to significant accumulated losses.;