Indian Overseas Bank Raj Bhavan Road Branch Phone: 040-23421528/ 23421529 R V’s Kamala Castle, 1st Floor e-mail: [email protected] # 6-3-899/1, Opp Shanti Shikara Aptts Date : 15.07.2017 Raj Bhavan Road, Somajiguda Hyderabad 500 082 Ref No. IOB/RBR/ /1180/2017-18 _____________________________________________________________________________________ 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. Samhitha Projects Pvt. Ltd, Plot No.17 &18, Essel Classic B-302, Phase 1 & 2, KPHB, Kukatpally, Hyderabad, Telengana has borrowed monies from Indian Overseas Bank against the mortgage of the immovable 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 08.12.2015 calling upon the borrower M/s Samhitha Projects Pvt. Ltd. and guarantors 1) Mr. Talluri Ramesh Babu, 2) Mr. J. Uma Shankar, 3) Mrs. Gadde Anitha, 4) Mr. G. Ajay Babu, 5) Mr. V. Ashok Chakravarthy, 6) S Sree Rama Chandra Murthy and 7) Pennam Sudhakar to pay the amount due to the Bank, being Rs.3,19,49,351/- plus interest from 08.12.2015, costs and expenses within 60 days from the date 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 possession of the secured assets more fully described in the schedule hereunder on 08.03.2016 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 to the bank as on the date 08.03.2016 of taking possession was intimated as Rs.3,30,81,107/-. Further a corrigendum to possession notice dated 08.03.2016 was also issued on 05.05.2016.The above dues were 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 14.07.2017 works out to Rs.3,99,21,777.18 Ps (Rupees Three Crores Ninety Nine Lakhs Twenty One Thousand Seven Hundred Seventy Seven And Eighteen Paise Only). 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 PROPERTIES Lot-I: Residential house property bearing Flat No.B-401 (on fourth floor) of Essel Classic with built up area admeasuring 1400 sq. feet (inclusive common area) together with undivided share of land adm 31.50 sq.yards (Out of 772 sq.yards) being constructed on Plot no:17 & 18 in S No. 1043,1046 to 1053 and 1060 to 1065 at Phase –I & II situated at KPHB Colony, Kukatpally, Balanagar, RR Dt in the name of Mr.Sree Ramachandra Murthy . Boundaries of Flat No. B 401 Boundaries of the entire Building North : Open to Sky North : Plot No. 19 South : Open to sky South : Plot No. 16 East : 40 ft wide Road East : Corridor and Staircase. West : 50 Ft. wide road West : Open to Sky Place: Ranga Reddy District Pin code: 500072 Lot II: Residential house property bearing flat No. 101 (Ground floor) with built up area of 1085 sq.ft (including common area) and car parking No. 12 area of 80 sq.ft, along with an undivided share of land admeasuring 40.00 sq yrds (Out of 800 sq.yrds) on Plot No. 561/HIG, in S.No. 1009 in M.C.K Block No.31 of “Raghavendra Towers” situated at Phase IV, KPHB Colony, Kukatpally, Balanagar Mdl, RR Dt, Telangana in the names of Mr.G.Ajay Babu and Mrs G Anitha. Boundaries of Flat No. 101 Boundaries of the Land North : Open to Sky North : Plot No. 567,568 South : Open to sky South : 33’-0’’ Wide Road East : Open to Sky East : Plot No. 562 West : Corridor West : Plot No. 559. Place: Ranga Reddy District Pin code: 500072 Date and time of e-auction 31.08.2017 between 12:00 Noon to 02:00 PM with auto extension of five minutes each till sale is completed. Reserve Price for Property No. 1Lot -I: Rs.53,73,737/- (Rupees Fifty three lakhs seventy three thousand seven hundred and thirty seven Only) Lot-II: Rs.36,23,300/- (Rupees Thirty six lakhs twenty three thousand three hundred only) Earnest Money Deposit for Lot-I: Rs. 5,37,374/- (Rupees Five lakhs thirty seven Property No. 1 thousand three hundred and seventy four Only) Lot-II: Rs.3,62,330/- (Rupees Three lakhs sixty two thousand three hundred and thirty Only) EMD Remittance Deposit through EFT/NEFT/RTGS Transfer in favour of “Authorised Officer, IOB Raj Bhavan Road Branch” to the credit of A/c No.118002000009876, Indian Overseas Bank, Raj Bhavan Road Branch, IFSC Code: IOBA0001180. Bid Multiplier Lot-I: Rs.50,000/- Lot-II: Rs.50,000/- (The amount in multiples of which the bid is to be increased) Inspection of property On 05.08.2017 @ 11.00 AM Submission of online 17.07.2017 application for bid with EMD Last date for submission of 28.08.2017 online application for BIDs with EMD Known Encumbrance if any Nil *Outstanding dues of Local Not known Self Government(Property Tax, Water sewerage, Electricity Bills etc) *Bank’s dues have priority over the Statutory dues. Terms and Conditions 1. The property will be sold by e-auction through the Bank’s approved service provider M/s C1 India Pvt. Ltd., 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://www.bankeauctions.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://www.bankeauctions.com along with the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorised Officer before 17.00 hours on 28.08.2017. 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 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. Failure to remit the entire amount of sale price within the stipulated period will result in forfeiture of deposit of 25% of the bid price to the secured creditor and forfeiture of all claims over the property by the purchaser and the property will be resold. 10. The sale certificate will be issued in the name of the purchaser only, after payment of the entire sale price amount and other taxes/charges, if any. 11. The purchaser shall bear the charges/ fee payable for conveyance such as registration fee, stamp duty, etc., as applicable as per law. 12. The Authorized Officer has the absolute right to accept or reject any bid or postpone or cancel the sale, as the case may be without assigning any reason whatsoever. 13. The property is being sold on “as is where is” and “as is what is” basis. The Bank has disclosed only the known encumbrances, statutory liabilities, if any, as above and it is for the purchaser to make their own independent enquiries at their own costs before participating in the auction. 14. As regards the statutory dues stated above, Bank dues will have priority over statutory dues. Without prejudice to the above, Statutory liability, if any, shall be borne by the purchaser and the Bank assumes no responsibility in this regard. 15. Sale is subject to confirmation by the secured creditor.