Bank of Baroda takes symbolic possession of Murli Ind

Murli Industries has informed the BSE that Bank of Baroda (lead bank of the Consortium) has taken symbolic possession of the company’s plants - solvent extraction, paper and cement plants - situated at different places, in accordance with Section 13(4) of the SARFAESI Act, 2002. However, the company has raised objection to the action before Bank of Baroda and is taking necessary legal steps. The stock of Murli Industries jumped 5 per cent to ₹6 on the BSE.