A mortgaged property of Unicorp Industries Ltd in Udyog Vihar was taken over on Thursday by a private bank and a Mumbai-based firm after they failed to repay a loan of Rs 80 crore.

The 7,409 square metre property in Phase IV of Udyog Vihar was leased out to a BPO, Cyber Systems Infotech, running for almost a year now. The owners had raised a loan against its property from the Mumbai-based Pegasus Assets Reconstruction Pvt Ltd and the IDBI bank.

A notice had been put up outside the office premises on July 31 this year, informing Unicorp that the loan amount was to be repaid within a period of 60 days. However, a senior official at the call centre, who did not want to be named, said they were not aware of any such notice. “We were working when the guard came in and informed us that there were people who had come to ‘seal’ the office.”

According to bank officials, a case had been filed in the High Court when repeated reminders to the company went unheard.

The Delhi High Court passed an order in favour of the bank and an official liquidator was also appointed to take care of the interests of the workmen employed at the unit. The Bank and Pegasus Assets then moved the court of the District Magistrate, Gurgaon, for police assistance while taking over the physical possession of plot no 242 and 243 along with the building constructed thereon.

DM Deepti Umashankar appointed Tehsildar Gurgaon as the duty magistrate during the taking over of the assets and the DCP (West) was asked to provide police assistance. The DM said the process of taking over would not affected even if a stay order from a court or any competent authority is produced on the ground.