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0891-2505919 इण्डियन ओवरसीज़ बैंक फैक्स फोन Phone : 0891-2567546 : 0891-2505919 इण्डियन ओवरसीज़ बℂक फै啍स Fax : 0891-2526982 Indian Overseas Bank ई-मेल E-Mail : [email protected] ई-मेल E-Mail : [email protected] आण्ति वसूली प्रबंधन शाखा, #48-14-111, श्री ननत्या का륍पलै啍स, ववशाखप絍टणम - 530013 Asset Recovery Management Branch, #48-14-111, Sri Nitya Complex, Visakhapatnam – 530013 ए.आर.एम.बी ARMB/ /2019-20 दिनांक Date: 17.09.2019 E – Auction Sale Notice (Under Provision to Rule 9(1) of Security Interest (Enforcement) Rules) E-Auction Sale Notice Of Immovable Assets Under The Securitization And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002, Read With Proviso To Rule 8(6) Of The Security Interest (Enforcement) Rules Act,2002. Notice is hereby given to the public in general and in particular to the Borrower that the below described immovable property mortgaged / charged to the secured creditor, the symbolic possession of which has been taken by the Authorized Officer of Indian Overseas Bank Secured Creditor, will be sold on ‘’ As is Where is’’, ‘’ As is what is’’ and ‘’Whatever there is’’ basis on 21.10.2019 for recovery of Rs.22,09,506/- (Rupees Twenty Two Lakhs Nine Thousand Five Hundred and Six Only) as on 17.09.2019 with further interest and costs due to the IOB Secured creditor from Mr. Pinnamaraju Ashok Raju S/o P. Atchuta Raju, R/o Plot No. 1A, Beside Lakshmi Narayana Enclave, Visalakshminagar, Visakhapatnam – 530043 (Borrower/Mortgagor) and the reserve price will be Rs.21,75,000/- and the EMD will be Rs.2,17,500/-. (Description of the Immovable property with known encumbrances, if any) (Property owned by Sri. Pinnamaraju Ashok Raju S/o P Atchuta Raju) (Property covered by Document No. 5423/2014 dated 05.09.2014 with SRO Madhurawada) All the pieces and parcels of site measuring 46 sq. Yards or 38.461 Sq. Meters being undivided and unspecified share out of 1663.80 sq. yards out of the total extent of 2988.80 sq. yards together with Flat No. GF–12, Ground Floor of “Meghana’s Grand Exotica” at Pothinamallayyapalem, Visakhapatnam measuring 1000 sft (including common area) and 100 sft Car Parking in Stilt Floor covered by S. Nos. 10/8i, 10/8j/10/11, 10/12 of Pothinamallayyapalem village within the limit of GVMC Madhurawada SRO Limits, Visakhapatnam district and total property bounded by : Boundaries : East : Other Houses South ; 80 ft Municipal Road West : Compound wall of Bethany School and others house North : Others site Boundaries of Flat : East : Open Space South ; Open Space & Lift West : Common Corridoe North : Open Space Date: 17.09.2019 Place: Visakhapatnam Authorized Officer. फोन Phone : 0891-2567546 : 0891-2505919 इण्डियन ओवरसीज़ बℂक फै啍स Fax : 0891-2526982 Indian Overseas Bank ई-मेल E-Mail: [email protected] ई-मेल E-Mail: [email protected] आण्ति वसूली प्रबंधन शाखा, #48-14-111, श्री ननत्या का륍पलै啍स, ववशाखप絍टणम - 530013 Asset Recovery Management Branch, #48-14-111, Sri Nitya Complex, Visakhapatnam – 530013 ए.आर.एम.बी ARMB/ /2019-20 दिनांक Date: 17.09.2019 ANNEXURE II 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 Mr. Pinnamaraju Ashok Raju has borrowed monies from Indian overseas Bank against the mortgage of the immovable properties more fully described in the schedule here under and the Bank has issued a demand notice under section 13(2) of the SARFAESI Act, 2002 on 08.07.2015 calling upon the borrower Mr. K Venkata Krishna Chandra Raju S/o Late K. Gowri Shankar Raju, R/o D. No. 27-1-189, Srinagar, Gajuwaka, Visakhapatnam – 530026 to pay the amount due to the bank, being Rs. 14,47,118/- (Rupees Fourteen Lakhs Forty Seven Thousand One Hundred and Eighteen Only) with further interest and costs, and expenses within 60 days from the date of the said notice. Whereas the borrowers and the Guarantors having failed to pay the amount due to the Bank as called for in the said demand notice, the Bank has issued possession notice on 04.11.2015 and has taken symbolic possession of the secured asset more fully described in the schedule hereunder on 04.11.2015 under Section 13 (4) of the Act read with Rules 8 & 9 of the Security interest (Enforcement) Rules, 2002 for realization of Bank’s dues. The dues to the bank as on the date of taking possession was intimated as Rs.13,72,106/- as on 04.11.2015 payable together with further interest at contractual rates and rests along with costs, charges etc till date of repayment, after reckoning repayments, if any, since the date mentioned in the demand notice. The dues of the borrower as on 17.07.2019 works out to Rs.22,09,506/- (Rupees Twenty Two Lakhs Nine Thousand Five Hundred and Six Only) along with further interest at contractual rates and rests, besides costs + actual expenses made for property maintenance after reckoning repayments, if any, subsequent to the Bank issuing 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 in “As is where is”, “As is what is” and “Whatever there is” condition: DESCRIPTION OF IMMOVABLE PROPERTY (Property owned by Sri. Pinnamaraju Ashok Raju S/o P Atchuta Raju) (Property covered by Document No. 5423/2014 dated 05.09.2014 with SRO Madhurawada) All the pieces and parcels of site measuring 46 sq. Yards or 38.461 Sq. Meters being undivided and unspecified share out of 1663.80 sq. yards out of the total extent of 2988.80 sq. yards together with Flat No. GF–12, Ground Floor of “Meghana’s Grand Exotica” at Pothinamallayyapalem, Visakhapatnam measuring 1000 sft (including common area) and 100 sft Car Parking in Stilt Floor covered by S. Nos. 10/8i, 10/8j/10/11, 10/12 of Pothinamallayyapalem village within the limit of GVMC Madhurawada SRO Limits, Visakhapatnam district and total property bounded by : Boundaries : East : Other Houses South ; 80 ft Municipal Road West : Compound wall of Bethany School and others house North : Others site Boundaries of Flat : East : Open Space South ; Open Space & Lift West : Common Corridoe North : Open Space Date and time of e – 21.10.2019 Between 11.00 AM to 12.00 Noon with auto extension of 5 auction minutes each till sale is completed. Reserve Price Rs. 21,75,000/- (Rupees Twenty One Lakhs Seventy Five Thousand Only) Earnest Money Deposit Rs. 2,17,500/- (Rupees Two Lakhs Seventeen Thousand Five Hundred Only) (10% of the Reserve Price) EMD Remittance Deposit through EFT / NEFT / RTGS transfer in favour of Authorized officer, Auction Bid Account A/C to the credit of Current Account No. 257902000002579, IFSC Code IOBA0002579, Branch Address: Indian Overseas Bank, Asset Recovery management Branch, Visakhapatnam. Bid Multiplier Rs.25,000/- Inspection of property From 07.10.2019 onwards 10.00 Hrs to 14.00 Hrs. Submission of online 19.09.2019, 10 AM onwards application for bid with EMD Last date for submission 19.10.2019 upto 17.00 Hrs. of online application for BID with EMD Known Encumbrance if Nil any *Outstanding dues Not Known (To be Borne by the auction purchaser only, If any) Rs……….. of Local Self Government(Property Tax, Water sewerage, Electricity Bills etc) Bank’s dues have priority over the Statutory dues For terms and conditions please visit: https://iob.auctiontiger.net (web portal of e-auction of service provider) Terms and Conditions 1. 1. The property will be sold by e-auction through the Bank’s approved service provider M/s. e-Procurement Technologies Limited, Ahmadabad (Auction Tiger) 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://iob.auctiontiger.net (service provider’s website). 3. Intending bidders shall hold a valid digital signature certificate and e-mail address. For details with regard to digital signature, please contact Mr Ramesh S., Contact Number: +91 9898745874, Help Line Numbers: 079 4023 0825 / 826 / 827 / 800 / 816 to 824, e-Mail ID: [email protected] and [email protected] Or Mr. Ravi kumar Chukka (Vizag), Contact Number: +91 8008617666 4. Bids in the prescribed formats shall be submitted “online” through the portal https://iob.auctiontiger.net along with the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorized Officer before 17.00 hours on 19.10.2019. 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 60 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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