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E-AUCTION SALE NOTICE SALE of IMMOVABLE PROPERTIES

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E-AUCTION SALE NOTICE SALE of IMMOVABLE PROPERTIES e-AUCTION SALE NOTICE SALE OF IMMOVABLE PROPERTIES MORTGAGED TO THE BANK UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 Whereas M/s Gavi Siddeswara Steels(India) Pvt Ltd (Under Insolvency Resolution process) has borrowed monies from Indian Overseas Bank, Punjab National Bank and UCO Bank against the mortgage and hypothecation of the properties more fully described in the schedule hereunder and the Bank has issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 (Act) on 26.02.2015 calling upon the borrower M/s Gavi Siddeswara Steels (India) Pvt ltd (Under Insolvency Resolution process) and Guarantors Shri Ashok Kumar, V Kavishree, D Srinivasa Rao and V Chandrakanth to pay the amount due to the Bank, being ` 88,89,57,357.95/- plus interest from 26.02.2015 costs and expenses within 60 days from the date of the said notice. Whereas the borrowers having failed to pay the amount due to the Bank as called for in the said demand notice, the Bank has taken possession of the secured asset more fully described in the schedule hereunder on 28.05.2015, 05.06.2015 and 10.06.2015 under Section 13(4) of the Act. The dues of the borrower dues Rs 144,10,80,729.19 Ps (Rupees One Hundred Forty- four Crores Ten Lakhs Eighty Thousands Seven Hundred Twenty-Nine and Paise Nineteen only) as on 07.02.2019 at DRT decree order with further interest thereon to the Indian Overseas Bank, Punjab National Bank and UCO Bank Secured Creditor. The undersigned in exercise of the powers conferred under Sec 13(4) of the said Act proposes to realize the Banks dues by sale of the under mentioned properties. Description of properties Lot1: All that part and parcel of the following properties Serial No. 1 (Ac. 1.35 ¼ cents) Sale deed 2365/07 Item No. 1: Land admeasuring an extent of Ac. 0.43 ½ cents covered by Survey No. 30 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Item No. 2: Land admeasuring an extent of Ac. 0.22 cents (Ac. 0.11 ¼ cents covered by Survey No. 30 and Ac. 0.10 ¾ cents covered by Survey No. 31) situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Item No. 3: Land admeasuring an extent of Ac. 0.69 ¾ cents covered by Survey No. 31 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 2 (Ac. 1.30 ½ cents) (sale deed 2366/07) Item No. 1: Land admeasuring an extent of Ac. 0.21 ¾ cents covered by Survey No. 31 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Item No. 2: Land admeasuring an extent of Ac. 1.08 ¾ cents (Ac. 0.48 ¾ cents covered by Survey No. 31 and Ac. 0.60 cents covered by Survey No. 30) situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District. Serial No. 3 (Ac. 0.28 ½ cents) sale deed 2367/07 Land admeasuring an extent of Ac. 0.23 ½ cents covered by Survey No. 30 and Ac. 0.05 cents in Survey No. 31 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 4 (Ac. 0.50 cents) sale deed 2368/07 Item No. 1: Land admeasuring an extent of Ac. 0.30 ¼ cents covered by Survey No. 30 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Item No. 2:Land admeasuring an extent of Ac. 0.19 ¾ cents covered by Survey No. 30 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 5 (Ac. 0.50 cents) Sale deed 2369/07 Land admeasuring an extent of Ac. 0.50 cents covered by Survey No. 33/1 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 6 (Ac. 0.34 cents) Sale deed 2370/07 Item No. 1: Land admeasuring an extent of Ac. 0.15 ½ cents covered by Survey No. 30 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Item No. 2: Land admeasuring an extent of Ac. 0.18 ½ cents covered by Survey No. 30 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 7 (Ac. 0.90 cents) Sale deed 2371/07 Land admeasuring an extent of Ac. 0.90 cents covered by Old Survey No. 36/9, New Survey No. 38/4, situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 8 (Ac. 0.73 cents) Sale deed 2372/07 Land admeasuring an extent of Ac. 0.73 cents covered by Survey No. 38/2, situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 9 (Ac. 1.08 cents) Sale deed 2903/07 Land admeasuring an extent of Ac. 1.08 cents covered by Survey No. 38/3, situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 10 (Ac. 0.33 cents) Sale deed 2904/07 Land admeasuring an extent of Ac. 0.33 cents covered by Survey No. 33/4, situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District Serial No. 11 (Ac. 0.93 ½ cents) Sale deed 2905/07 Item No. 1: Land admeasuring an extent of Ac. 0.76 cents covered by Survey No. 33/1 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District. Item No. 2: Land admeasuring an extent of Ac. 0.06 ½ cents covered by Survey No. 33/1 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District. Item No. 3: Land admeasuring an extent of Ac. 0.11 cents covered by Survey No. 33/5 situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District. Serial No. 12 (Ac. 0.40 cents) Sale deed 2906/07 Land admeasuring an extent of Ac. 0.40 cents covered by Survey No. 44/3, situated at Dabbanda Village, Dabbanda Gram Panchayat, Anandapuram Mandal, Bheemunipatnam Sub-Registrar, Visakhapatnam District. Total of extent as per the above (Serial no.1 to 12) standing in the name of Sri Veerapalli Chandrakanth is Ac. 8.65 ¾ cents. Date and time of e- Lot 1: 09.05.2019 & Time between 11:00 AM to 01:00 auction PM with auto extension of five minutes each till sale is completed. Reserve Price Lot 1: ` Rs 6,06,06,100/- Earnest Money Lot 1: ` 60,60,610/- Deposit EMD Remittance Deposit through EFT/NEFT/ RTGS transfer to the credit of A/C No.258202000002582 in the Name of: Authorized officer, Indian overseas bank, Hyderabad ARM Branch (Code: 2582) IFSC :IOBA0002582 Bid Multiplier Lot 1: ` 5,00,000/- Inspection of 23.04.2019 Supropertiesbmission of online 10.04.2019 onwards application for bid with EMD Starts from Last date for 06.05.2019 submission of online application for BID Knownwith EM EncumbranceD Not known if any Outstanding dues of Not known Local Self Government Terms and Conditions 1. The Properties will be sold by e-auction through the Bank’s approved service provider M/s 4CLOSURE, under the supervision of the Authorized Officer of the Bank. 2. E-auction bid document containing online e-auction bid form, declaration, general terms and conditions of online auction sale are available in https://www.iob.in/e-Auctions.aspx; https://www.publishtenders.gov.in and http://iob.foreclosureindia.com 3. Intending bidders shall hold a valid digital signature certificate and email address and should register their name / account by login to the website of the aforesaid service provider. They will be provided with user id and password by the aforesaid service provider which should be used in the e-auction proceedings. For details with regard to digital signature, please contact the service provider at the below mentioned address/phone no/email. 4. Bids in the prescribed formats shall be submitted “online” through the portal http://iob.foreclosureindia.com along with the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorised Officer on or before 06.05.2019. 5. The EMD and other deposits shall be remitted through EFT / NEFT / RTGS to the Bank account as specified above and the amount of EMD paid by the interested bidder shall carry no interest. The amount of EMD paid by the successful bidder shall be adjusted towards the sale price. 6. Bids without EMD shall be rejected summarily. 7. Online auction sale will start automatically on and at the time as mentioned above. Auction / bidding will initially be for a period of 120 Minutes with auto extension time of 5 minutes each till the sale is concluded. 8. The Properties shall be sold to the successful bidder. The successful bidder (purchaser) as declared by the Authorised Officer shall deposit 25% of the sale price (inclusive of the EMD) immediately on the same day and not later than the next working day. In case of default in payment of the 25% (less the EMD) of the bid amount immediately to the Authorised Officer, the EMD amount deposited will be forfeited and the secured asset will be sold again. 9. The balance amount of sale price shall be paid within 15 days from the date of confirmation of auction sale or such extended period, as may be permitted by the Authorised Officer at his sole discretion (as may be agreed upon in writing between the secured creditor and proposed purchaser in any case not exceeding three months).
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