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25321180 / 26415700 E-Mail : [email protected] Date: 01.08.2019 E-AUCTION SALE NOTICE

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25321180 / 26415700 E-Mail : Iob0075@Iob.In Date: 01.08.2019 E-AUCTION SALE NOTICE INDIAN OVERSEAS BANK PURASAWALKAM BRANCH 15 Hunters Road, Purasawalkam, Chennai - 600 112. Ph : 25321180 / 26415700 E-mail : [email protected] Date: 01.08.2019 E-AUCTION SALE NOTICE SALE OF IMMOVABLE PROPERTY MORTGAGED TO THE BANK UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 Whereas M/s Shapes & Shades Retail Pvt. Ltd. Represented by its Directors 1.Mr. Dulichand Lodha, 2.Mrs. Kanchana Devi Lodha, 3.Mr. Padam Chand Lodha,and 4. Mrs. V M Latha having Registered address at No.49, Audiappa Naicken Street, Sowcarpet Chennai – 600 079 has borrowed monies from Indian Overseas Bank against the mortgage of the immovable properties more fully described in the schedule hereunder and on upon classification of the account as NPA, the Bank has issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 (Act) on 07.06.2018 calling upon the borrowers M/s Shapes & Shades Retail Pvt. Ltd. Represented by its Directors 1.Mr. Dulichand Lodha, 2.Mrs. Kanchana Devi Lodha, 3.Mr. Padam Chand Lodha,and 4. Mrs. V M Latha having Registered address at No.49, Audiappa Naicken Street, Sowcarpet Chennai – 600 079 to pay the amount due to the Bank, being Rs.5,15,12,703/- (Rupees Five Crore Fifteen Lakhs Twelve Thousand Seven Hundred and Three only) as on 06.06.2018 payable together with further interest at contractual rates and rests along with costs, charges etc till date of repayment within 60 days from the date of receipt of the said notice. Whereas the borrowers & guarantors having failed to pay the amount dues in full to the Bank as called for in the said demand notice, the Bank has taken symbolic possession of the secured assets more fully described in the schedule hereunder on 29.10.2018 under Section 13 (4) of the Act with the right to sell the same in “As is where is” and “As is what is” basis under Section13(4) of the Act read with Rules 8 &9 of the Security interest (Enforcement) Rules, 2002 for realization of Bank’s dues. The dues of the borrower as on 31.07.2019 works out to Rs.591.75 lakhs after reckoning repayment, if any amounting to Nil subsequent to the Bank demand notice. The undersigned in exercise of the powers conferred under Sec 13(4) of the said Act proposes to realize the Bank’s dues by sale of the under mentioned properties. SCHEDULE OF PROPERTY(IES) DESCRIPTION OF THE IMMOVABLE PROPERTY Item No.1: All that part and parcel of residential land measuring 2400 sq.ft and building measuring 3030 sq.ft constructed thereon situated at S. No. 63, Plot No.8, New Door No. 4/2, Old Door No. 63, Swami Vivekananda Main Road, Vivekananda Nagar, NesapakkamChennai- 60000078 within the Sub Registration District of Jont II Sidapet and Registtation District of Chennai South and standing in the name of Mrs. V.M. Latha. Bounded on the: North by: 30 Feet Public Road. South by: Vacant Land sold to K.P.Krishna Kumari East by: 30 Feet Public Road West by: Land belonging to Venugopal Reddiar Item No.2: All that part and parcel of Residential flat measuring 830 sq ft (UDS of land measuring 366 sq.ft. out of total extent of 3840 sq.ft) situated at S. No. 138, RS No. 138/1A1A part, TS No.11, Block. No. 1, Flat No. FF2, First Floor, Plot No. 13, Narayanasamy Garden Second Street, RV Nagar (Post), Chennai – 600051, comprised in S. No. 138, R.S.No. 138/1A1A part, TS No. 11, Block No.1, Patta No. 1478, Selavoyal Village within the Sub Registration District of North Chennai standing in the name of Mr. Dulichand Lodha, Director of the Company. Bounded on the North by: Plot No. 20 belongs to Mr. Mohan South by: 30 Feet Road Narayanasamy Garden 2ND Street East by: Plot No.12 belonging to Rajendran West by: Plot No. 14 belonging to V. Mookiah Item No. 3 Flat No. SF1 (Front Side) Second Floor, Block B with super built up area measuring860 sq. ft with UDS of 366 s.ft situated at 13-b, (subdivision of Plot No.1), Narayanasamy Garden 2nd Street, RV Nagar, Chennai 600051 comprised in S. No. 138/1a, Part TS 11, Block No.1, Corporation Division No.1, Selavayal Village, within the Sub Registration District of Madhavaram and Registration District of North Chennai and standing in the name of M/s Shapes & Shades Retail Pvt. Ltd. Bounded on the North by: Plot No. 20 belongs to Mr. Mohan South by: 30 Feet Road Narayanasamy Garden 2ND Street East by: Plot No.12 belonging to Rajendran West by: Plot No. 14 belonging to V. Mookiah Item No. 4 Equitable mortgage of following property held in the name of Shapes and Shades Pvt Ltd Residual value of All the piece and parcel of property with land measuring an extent of 599 sqft UDS out of total area of 1292 sqft together with building consisting of Car parking and commercial space in Ground floor measuring 1105 sqft built up area, Office No. 4 in first Floor measuring 299 sqft feet built up area, Flat in Fifth Floor measuring 1292 sqft built up area, Room No.1, in Seventh floor measuring 700 sqft built up area situated at Old Door No.4 8, New Door No.49, Audipappa Naicaken Street, Sowarpet, Chennai – 600 079 comprised in Old S.No.2956, comprised in old R.S.No.2020/1, Present R.S.No.7920/1 of Muthial pet village Chennai District situated within the Registration District of North Chennai and Sub Registration District of Sowcarpet. BOUNDARIES: North by: RS No. 7916 South by: RS No. 7920/2 East by: RS No. 7919 West by: RS No. 7921. (This property is also held as common security for credit facilities extended by the Bank for another NPA account in the name of M/s Gurudev Enterprises with outstanding of Rs.248.25 lakhs as on 31.07.2019 payable with further interest at contractual rates & rests, charges etc. till date of payment.) Date and time of e-auction 19.08.2019 between 11.00 a.m to 1.00 p.m with auto extension of 5 minutes each till sale is completed. Reserve Price Item 1: Rs. 235.98 lakhs Item 2: Rs. 31.34 lakhs Item 3: Rs. 31.34 lakhs Item 4: Rs. 166.36 lakhs Earnest Money Deposit Item 1: Rs. 23.60 lakhs Item 2: Rs. 3.13 lakhs Item 3: Rs. 3.13 lakhs Item 4: Rs.16.64 lakhs EMD Remittance Deposit through EFT/NEFT/ RTGS Transfer in favour of “ IOB Cathedral Branch” to the credit of A/C no.0109020000970853 Indian overseas bank, Cathedral Branch. 762, Anna Salai, Chennai 600002 Branch Code:--- 0109 IFSC Code IOBA0000109 Bid Multiplier Rs. 1,00,000/- (the amount in multiples of which the bid is to be increased) Inspection of property 13.08.2019 between 11.00 a.m to 5.00 p.m Submission of online 03.08.2019 onwards application for bid with EMD Last date for submission of 18.08.2019 at 5.00 PM online application for BID with EMD Known Encumbrance if any Nil *Outstanding dues as on 31.07.2019 Rs.591.75 lakhs with further interest at contractual rates and rests *Bank’s dues have priority over the Statutory dues. Terms and Conditions 1. The property(ies) will be sold by e-auction through the Bank’s approved service provider www.iob.in[https://www.iob.in/TenderDetails.aspx?Tendertype=E_Auction]; https://ibapi.in 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 the website www.iob.in[https://www.iob.in/TenderDetails.aspx?Tendertype=E_Auction]; https://ibapi.in. 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/e-mail. 4. Bids in the prescribed formats shall be submitted “online” through the portal www.iob.in[https://www.iob.in/TenderDetails.aspx?Tendertype=E_Auction]; https://ibapi.in along with the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorized Officer before 5.00 p.m on 18.08.2019. 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 property shall be sold to the successful bidder. The successful bidder (purchaser) as declared by the Authorized 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. The balance amount of sale price shall be paid within 15 days from the date of confirmation of auction sale.
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