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E-Auction Notice for Combined Auction Sale of Immovable Properties with T&C to Be Uploaded in Bank’S Website and Website of the Auctioneering Agency

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E-Auction Notice for Combined Auction Sale of Immovable Properties with T&C to Be Uploaded in Bank’S Website and Website of the Auctioneering Agency SSTA – 2 R(IM) – E-auction notice for combined Auction Sale of Immovable Properties with T&C to be uploaded in Bank’s Website and Website of the Auctioneering Agency The Karur Vysya Bank Ltd, Asset Recovery Branch, 5-8-356 to 362, III Floor, Chirag Ali Lane, Abids, Hyderabad – 500 001 040-23206065 E-AUCTION NOTICE PUBLIC NOTICE FOR SALE OF IMMOVABLE PROPERTIES UNDER SARFAESI ACT, 2002 In exercise of powers conferred under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Security Interest (Enforcement) Rules, 2002 and pursuant to the Physical possession of secured assets of the borrower taken by Authorized Officer for recovery of the secured debts dues to The Karur Vysya Bank Ltd, Asset Recovery Branch Hyderabad, amounting to Rs.10,99,97,578.24 paisa (Rupees. Ten Crores Ninety Nine Lakhs Ninety Seven Thousands Five Hundred Seventy Eight and Twenty Four paisa only) as on 30-09-2019 and further interest and costs thereon from 01-10-2019, due to the Karur Vysya Bank Ltd, Secured Creditor from Borrowers M/s. Sri Sai Venkata Lakshmi Rice Mill, Rep. by its Partners 1) Smt. Sai Venkata Lakshmi Velagala, 2) Sri Vijaya Gopal Reddy Velagala, D.No. 12/3, Pennepali Village,Pellakur Mandal, S.P.S.R. Nellore District, A.P. ordinarily residing at D.No. 6-12-5/18A, Ayyappa Nilayam, Mohanbabu Gardens, L.A. Sagaram, Naidupeta -524 126 S.P.S.R. Nellore District, A.P. presently residing at D.No.10-15-1, Velagala Vari Street,Near Bala Venkateswara Swamy Temple, Tallamudunurupadu, Tadepalligudem – 534 166 and Guarantor: Sri Suryanarayana Reddy Velagala, S/o Sri Dharma Reddy R/o D.No. 10-15-1, Velagala Vari Street, Near Bala Venkateswara Swamy Temple Tallamudunurupadu, Tadepalligudem – 534 166, whereas the undersigned has decided to put up for E-auction of the immovable properties & offers are invited by way of E-Tender for purchase of the following assets on 21/10/2019 & ON “AS IS WHERE IS”, “AS IS WHAT IS”, AND “WHATEVER THERE IS” basis. DESCRIPTION OF THE IMMOVABLE PROPERTIES I Property – I Item No.1 (Property belongs to Smt. Velagala Sai Venkata Lakshmi w/o Vijaya Gopala Reddy (Document Nos. 2485/2005 and 2561/2005). SPSR Nellore District, Gudur Registration District, Naidupeta Sub-District, Pellakur Page 1 of 7 Mandal, Pennepalli Grama Panchayat, Pennepalli Village account lands Patta No. 62 Sy. No.12 – 3 to an extent of Ac.1-70 cents out of Ac.1.82 cents landed property within the following boundaries: East : Road to some extent and lands of G. Basavaiah, Hanumanthu and Krishnaiah to some extent.West : Land of Palliboina Venkatarathnam & others, Goguthattu Ravi, Gangabathina Veeraswamy and others. North : Land of Gangabathina Venkataswamy and Gangabathina Veeraswamy and others. South : Land of Palliboina Venkatarathnam and others. Item No.2 (Property belongs to Sri. Velagala Vijaya Gopala Reddy s/o Suryanarayana Reddy (Document Nos. 307/2014). SPSR Nellore District, Gudur Registration District, Naidupeta Sub-District, Pellakur Mandal, Pennepalli Grama Panchayat, Pennepalli Village account lands Patta No. 226 Sy. No.21 – 3P2 to an extent of Ac.0.62 cents out of Ac.0.70 cents landed property within the following boundaries: East : Naidupet – Srikalahasthi Road South : Land belongs to Gangabathian Basavaiah to some extent and land of Gangabathina Chenchamma to some extent. West : Irrigation channel ( Panta Kaluva) North : Land of Velagala Sai Venkata Lakshmi On the total extent of Ac.2-32 cents mentioned above in item No.1 and 2, RCC framed structure building and GI sheet roof structured rice mill building, godowns, office building, workers quarters constructed with modern rice mill machinery including boilers and driers. Property :2 Machinery in the Rice Mill All that Plant & Machinery that is available within the Rice Mill Factory Premises excluding Sortex Machine Reserve Price EMD (10% of Reserve Bid Amount Incremental Price) Rs.4,25,00,000.00 Rs.42,50,000.00 Rs.1,00,000.00 I inspection of the Asset All working Days – From 05/10/2019 Page 2 of 7 to 20/10/2019 between 11.00 am to 5.00 pm on prior appointment only Last date and time for submitting online Tender Date: 19/10/2019 & Application Forms Time: 5.00 PM Date and Time of E-Auction The E-Auction will take place through portal https://bankauctions.in (Web address of e-auction provider) on 21/10/2019,between 12.00 noon to 1.00 PM with unlimited extensions of 3 minutes each till sale is concluded. Nodal Bank account Name The Karur Vysya Bank Ltd, Central Office in favour of A/c. M/s Sri Sai Venkatalakshmi Rice Mill (Borrower name) Account No:1101351000000973 IFSC Code : KVBL0001101. Contact Person & Phone No Sri T V Ravi Kumar, AGM Mobile: 9100072161 Email:[email protected] Sri.M.Venkateswara Rao, CM, Mobile: 7337356183 Email:[email protected] The E-tenders should be accompanied with EMD remittance details. EMD should be remitted through RTGS / NEFT to Nodal Bank Account without time lag, failing which the tender becomes disqualified or The EMD of 10% of the Reserve Price can also be paid by of a Demand Draft/Pay Order drawn in favor of The Karur Vysya Bank Ltd, Payable at Hyderabad along with Bid Form. TERMS AND CONDITIONS OF THE E-AUCTION ARE AS UNDER 1. E – Auction is being held on ““AS IS WHERE IS”, “AS IS WHAT IS”, AND “WHATEVER THERE IS” BASIS”. The E-auction will take place through portal https://bankauctions.in of the service provider, M/s.4Closure (BankAuctions.in), Hyderabad on 21/10/2019 (auction date) from 12.00 Noon to 1.00 PM with unlimited extensions of 3 minutes each, till the sale is completed. 2. For detailed procedure and terms and conditions of E-Auction, interested bidders may visit www.matexauctions.com and download relevant documents. Interested bidders may also get in touch with service provider on below mentioned contact numbers. Page 3 of 7 3. It shall be in the discretion of the Authorized Officer to cancel the auction proceeding for any reason and return the EMD submitted and Bank would not entertain any claim or representation in that regard from the bidders. 4. Particulars specified in respect of the said property/ies in the above schedule have been stated to the best of the information of the Authorized Officer / Bank. 5. The intending purchaser / bidder is required to submit amount of EMD and register their name at https://bankauctions.in to the above mentioned account and get user ID and Password free of cost and get training on E-Auction from Mrs. Prathyusha: 040-23836405 and Cell No. +91-8142000066 / 62, E-Mail Id: [email protected] and [email protected] or Mr. U. Subba Rao (Hyderabad) Contact Number: +91-8142000061 (Contact details of e-auction provider including name and contact no. mail ID). Cheques will not be accepted for EMD. Bidders are required for participating in the E-auction to hold Digital Signature Certificate and also to furnish the details in the Auction Application Form available on the site. 6. The said EMD shall be adjusted in the case of highest bid, otherwise it will be refunded. The earnest money deposit will not carry any interest. Brokers / Middlemen shall not be entertained. 7. The sale shall be confirmed in favour of the purchaser who has offered the highest sale price in his bid to the Authorized Officer and shall be subject to confirmation by the Bank. 8. The purchaser shall deposit 25% of the amount of sale price after adjusting the Earnest Money Deposit within 24 hours (Banking Days) of acceptance of highest bid by the Authorized Officer in respect of sale, failing which the Earnest Money Deposit shall be forfeited. The highest bidder shall be declared to be the purchaser of the properties mentioned herein provided he should be legally qualified to bid at all stage. 9. The balance 75% of the sale price shall be paid by the purchaser on or before 15th day (during banking hours) of confirmation of sale by the Authorized Officer or such extended period as agreed upon in writing by and solely at the discretion of the Authorized Officer. 10. In default of payment of sale price or any part thereof within the period(s) mentioned hereinabove, the deposit(s)/ Part payment shall be forfeited and the property Page 4 of 7 shall be resold and the defaulting purchaser shall forfeit all claims to the property or any of the sum for which it may be subsequently sold. 11. On confirmation of the sale by the Bank and or compliance of the terms of payment the Authorized Officer shall issue a Certificate of Sale of the said property in favour of the purchaser in the form given in Appendix V to Enforcement of Security Interest Rules. 12. The Authorized Officer is not bound to accept the highest bid or any or all bids and reserves the right to accept or reject any or all the bids without assigning any reason thereof and his decision will be final binding on all the parties attending the auction. 13. Participation by any person in the sale shall be treated as conclusive evidence of the fact that the party has inspected the property/ies offered for sale and satisfied himself/herself/themselves about the title, measurement, extent, boundaries and location of the property/ies. It shall also imply and be taken for granted that the party has carefully gone through and understood the terms and conditions of auction including the amendments if any, prevailing at the time of auction bid.
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