E-AUCTION PROCESS DOCUMENT Information sheet & Terms and Conditions for sale of assets
M/S Velohar Infra Private Ltd (In Liquidation)CIN No: U45200TN2009PTC072746 Reg. Off. Of the Company: No. 1F, 7th Cross Street, Woodcreek County, Nandambakkam, Chennai, Tamil Nadu. 600016, India
Liquidator: M MURUGESAN (IBBI Reg No. IBBI/IPA- 002/IP- N0.0527/ 2017-2018/11679), Liquidator Address: Block C, 3 D, Aishwaryam Apartments, 102/103, Barakka Road, Secretariat Colony, Kilpauk, Chennai, Tamil Nadu 600010; Email: [email protected];
E-Auction Sale of Assets under Insolvency and Bankruptcy Code, 2016 Date and Time of Auction: 04-11-2020 10 am to 2 pm (With unlimited extension of 5 minutes each)
Sale of assetsowned by M/s Velohar Infra Private Ltd (in Liquidation) forming part of Liquidation Estate, under Regulation 32 of Insolvency & Bankruptcy Board of India (Liquidation Process) Regulations, by the Liquidator, appointed by the Hon’ble National Company Law Tribunal, Special Bench, Chennai vide order No. MA/524A/2019/ IN CP/114/IB/2018 dated 12/06/2019. The sale of properties will be done by the undersigned through the e-auction platform https://ncltauction.auctiontiger.net.
Basic description of the Assets for sale:
ASSET LOCATION INSPECTION DATE & RESERVE MINIMUM EARNEST DATE TIME OF PRICE INCREMENTAL MONEY (INR) AUCTION BID AMOUNT & LAST DATE LAND (2705 sq.ft)& No. 1F, 7th Cross Rs. 2 lacs and Rs. 24 BUILDING (3 Floors – Street, Woodcreek * 27-10-2020 04-11-2020 Rs.2.35 cr. multiple LAKHS 5525 sq.ft), County, Between 10 10 am to 2 pm thereof ********** FURNITURE,* Nandambakkam, am and 2 pm 31-10-2020 ELECTRICAL ITEMS Chennai,600016 – *For other UPTO 5 PM ETC Within Chennai dates on (Assets in Parcel Corporation Area. specific pursuant The land appointment- to Regulation 32(d) of classification under please refer E- the IBBI Liquidation CMDA is Mixed auction Regulations, 2016) Residential Process Documents.
**Miscellaneous office equipment: viz: Work stations, chairs, conference table, sofa, A/c units, steel almirahs, fans, small cabinets, computer tables, Computers, Printers, Xerox machine, Generator etc –Value Rs. 5 lacs.
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A. Name of Title Deed Holder: M/s Velohar Infra Private Ltd (in Liquidation) Reg. Off. Of the Company: No. 1F, 7th Cross Street, Woodcreek County, Nandambakkam, Chennai, Tamil Nadu. 600016, India. B. Documents: 1. Sale Deed dated 11.02.2013 registered as Document No.537/2013 at Alandur SRO in favour of Mis. Velohar Infra Pvt. Ltd. 2. Patta No.935 in the name of Mis. Velohar Infra Pvt. Ltd 3. Layout sketch of part of Wood Creek County 4. Approved Plan for building 5. Property Tax Assessment 6. Electricity Service Connection bearing No.242-056-515 in the name of M/sVelohar Infra Pvt. Ltd
C. Description
Asper As Description existing documents
Land 2705 Sq. ft. 2705 Sq. I Sale deed ft. Building & Ground 107.89 Sq. m 1330 Sq. Services (The property Floor 1161(or) Sq. ft. ft. is a Corner Plot and the 110.61 Sq. m entire building is used as First 1410 Sq. the Commercial unit. The Floor 1190(or) Sq. ft. ft. Approved Plan is for Second 110.22 Sq. m 1410 Sq. Residential Unit upto Second floor. It consists Floor 1186(or) Sq. ft. ft. of Ground floor, First floor, 1375 Sq. Second Floor and Third Floor (part). As per (RCCft. Document, Plot No. is 1 & Third 5.27 Sq. m ( or) - 539Roof Sq. As per Plan, Plot No. is 1F. It is surrounded by Floor 57 Sq. ft. + Metalft. residential building and is Sheet located behind Trade Centre, Nandambakkam. 836Roof Sq.- (Approximately 500 m) 5525ft.) Sq. Total 3594 Sq. ft. ft.
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Others- (*Miscellaneous office equipments: viz: Work stations, chairs, conference table, sofa, A/c units, steel almirahs, fans, small cabinets, computer tables, Computers, Printers, Xerox machine, Generator etc )
Survey No. 144/lB part &144/2 part Survey No. as perPatta No.935 144/1B1A2 &14412B Village Nandambakkam Taluk Alandur District Kancheepuram
D. Boundaries of the property:
As per document As at site
Residential Property North by Layout No.13/2000 ("BRINDHA VAN, Plot No.8, 9E, Phase-II) 24 feet wide Bituminous Road South by 24 feet Road (7th Cross Street, Wood Creek County)
Approved Layout Residential Property East by No.50/98 (Plot No.12, Phase I) 40 feet wide Bituminous Road Westby 40 feet Road (2nd Main Road, Wood Creek County)
E. Encumbrances if any: To be verified by the buyer. Details of the encumbrances known to the Liquidator = NIL
Terms and Condition of the E-auction are as under:
1. E-Auction will be conducted on “AS IS WHERE IS’’, “AS IS WHAT IS” “WHATEVER THERE IS BASIS’’and “NO RECOURSE BASIS” through approved service provider M/S E-Procurement Technologies Limited (Auction Tiger).
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2. Please note that in compliance with Section 35 of Insolvency and Bankruptcy Code, 2016, the Liquidator shall not sell the above property of the Corporate Debtor to any person who is not eligible to be a Resolution Applicant. A person who is not eligible to be a Resolution applicant, vide Section 29 A of Insolvency and Bankruptcy Code, cannot participate in the said eauction.
3. The intending bidders, prior to submitting their bid, should make their independent inquiries and inspect the property at their own expenses and satisfy themselves. The Asset mentioned above can be inspected by the prospective bidders at the site between 10.00 a.m. to 2 p.m. any day before , 27-10-2020 and/or with prior appointment, contacting Liquidator.
4. To the best of knowledge and information of the Liquidator, there is no encumbrance of the property. However, the intending bidders should make their own independent inquiries regarding the encumbrances, title of property put on auction and claims / rights / dues affecting the property, prior to submitting their bid. The e-Auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of the Liquidator. The property is being sold with all the existing and future encumbrances whether known or unknown to the Liquidator. The Liquidator shall not be responsible in any way for any third party claims / rights / dues.
5. The Complete E-Auction process document containing details of the Assets, online e- auction Bid Form, Declaration and Undertaking Form, General Terms and Conditions of online auction sale are available on website https://ncltauction.auctiontiger.net. Contact: Mr Ramprasad Sharma & Mr. Nirav Trivedi at+91- 6351896834/07961200581/554/594/584/586E- mail:[email protected]/[email protected]/ [email protected]
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6. The intending bidders are required to deposit Earnest Money Deposit (EMD) amount either through DD/NEFT/RTGS in the Account of “Velohar Infra Private Ltd. - in Liquidation”, Account No.: A/c No. A/c No. 806120110000463, IFSC BKID0008061, at Bank of India, Porur Branch. Chennai 600 0116 / , drawn on any Scheduled Bank or give a EMD Amount as per Format as given in the Complete E-Auction process document.
7. The intending bidder should submit the evidence for EMD Deposit or and Request Letter for participation in the E- Auction along with Self attested copy of (1) Proof of Identification (2) Current Address- Proof (3) PAN card (4) Valid e-mail ID (5) Landline and Mobile Phone number (6) Affidavit and Undertaking, asPer Annexure 1 (7) Bid Application Form as per Annexure II (8) Declaration by Bidder, as per Annexure III, the formats of these Annexures can be taken from the Complete E-Auction process document. These documents should reach the office of the liquidator or by E-mail, at the address given below before 5:00 PMof31- 10-2020. Interested bidders will have to upload their KYC documents along with the EMD submission details before 5:00 PM of 31-10- 2020.
8. The Name of the Eligible Bidders will be identified by the Liquidator to participate in e-auction on the portal (https://ncltauction.auctiontiger.net). The e-auction service provider (Auction tiger) will provide User id and password by email to eligible bidders.
9. In case, a bid is placed in the last 5 minutes of the closing time of the e- auction, the closing time will automatically get extended for 5 minutes with unlimited extension. The bidder who submits the highest bid amount (not below the reserve price) on closure of e-Auction process shall be declared as the Successful Bidder and a communication to that effect will be issued through electronic mode which shall be subject to approval by the Liquidator.
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10. The EMD of the Successful Bidder shall be retained towards part sale consideration and The EMD of unsuccessful bidders shall be refunded. The EMD shall not bear any interest. The Liquidator will issue a Letter Of Intent (LOI) to the Successful Bidder and the Successful Bidder shall have to deposit the balance amount (Successful Bid Amount - EMD Amount) within 15 days on issuance of the LOI by the Liquidator. Default in deposit of the balance amount by the successful bidder within the time limit as mentioned in the LOI would entail forfeiture of the entire amount deposited (EMD + Any Other Amount) by the Successful Bidder.
11. In case of forfeiture of the amount deposited by the defaulting bidder, he shall neither have claim on the property nor on any part of the sum for which it may be subsequently sold
12. The Successful Bidder shall bear the applicable stamp duties/additional stamp duty / transfer charges, Registration expenses, fees, etc. and all the statutory / non- statutory dues, taxes, rates, assessment charges, fees etc. in respect of the property put on auction.
13. The sale certificate/agreement will be issued in the name of the successful bidder only and will not be issued in any other name.
14. The sale shall be subject to provisions of Insolvency and bankruptcy code 2016 and regulations made thereunder.
15. The Eligible Bidders, participating in the E-Auction, will have to bid for at least the Reserve Price, and increase their bid by a minimum incremental amount of Rs.2 Lakhs or in multiples of these amounts.
16. The Property shall not be sold below the reserve price. The conditional bids may be treated as invalid
17. The service provider for e-auction / the Liquidator shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the causes.
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18. Decision of the Liquidator regarding declaration of successful bidder shall be final and binding on all the bidders.
19. The Liquidator has the absolute right to accept or reject any or all offer(s) or adjourn/postpone/cancel the e- Auction or withdraw any property or portion thereof from the auction proceeding at any stage without assigning any reason thereof.
Date: 18-10-2020 M. MURUGESAN Place: Chennai LIQUIDATOR - M/S Velohar Infra Pvt Ltd (IBBI Reg No. IBBI/IPA- 002/IP-N0.0527/ 2017-2018/11679), 102/103, Block C, 3D, Aishwaryam Apartments, BarakkaRoad,Secretariat colony, Kilpauk, Chennai, Tamil Nadu 600010. Email: [email protected] Cell: 87540 37002
Important Information: 3.1 This E-Auction Process Document has been issued with the intent to carry out e-auction (E- Auction) of M/s Shri Narsing Dev Sugar Private Limited (In Liquidation) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Process Regulations). 3.2 All information provided in this E-Auction Process Document should be read together with the provisions of the IBC and the Liquidation Process Regulations. In the event of a conflict between this E-Auction Process Document and the IBC or the Liquidation Process Regulations, the provisions of the IBC or the Liquidation Process Regulations, as the case may be, shall prevail. 3.3 This E-Auction Process Document is neither a prospectus, nor an offer document nor a letter of offer for sale of the Assets of the Company or an official confirmation of any transaction entered into by the Company nor an agreement by the Liquidator to the Interested Bidders or any other person. The E-Auction Process Document purports to ascertain interest of potential applicants and does not create any kind of binding obligation on the part of the Liquidator, his/her professional advisors or the Company to effectuate the sale of the assets of the Company.
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