Gollaprolu Branch Description of the Property

Gollaprolu Branch

TERMS AND CONDITIONS E- Auction Sale Notice UNDER SARFAESI ACT NOTICE TO PUBLIC/ BORROWERS/GUARANTORS

Name and Address of the Legal Heirs of deceased borrower Mr Gajula Seshagiri Rao of M/S Sri Gowri sankara Traders Mrs. Gajula Rukmini Devi, Opp. Suredu Cheruvu, Markendayapuram, Gollaprolu,E G Dt w/o Mr. Seshagiri Rao Mr. Gajula Sridhar Mani Soma Raju s/o Mr. Seshagiri Rao Opp. Suredu Cheruvu, Markendayapuram, Gollaprolu,E G Dt Mrs. Ch. Lalitha Devi c/o Mr. Gajula Seshagiri Rao Opp. Suredu Cheruvu, Markendayapuram, Gollaprolu,E G Dt Mrs. N. Mohan Surya Chakra c/o Mr. Gajula Seshagiri Rao Opp. Suredu Cheruvu, Markendayapuram, Gollaprolu,E G Dt

Guarantor Mrs. Gajula Rukmini Devi, Opp. Suredu Cheruvu, Markendayapuram, Gollaprolu,E G Dt w/o Mr. Seshagiri Rao

Amount Due: Cash Credit Account No.865230110000016, Amount Due as on 20-10-2018 :Rs 61,62,738.23ps with further interest w.e.f 20-10-2018 and costs.

Description of the Property:

a) The Scheduled property situated at EG Dist.Pithapuram Sub-Registry, Gollaprolu Mandal, Gollaprolu Nagar Panchayat, Gollaprolu S.No 616/6,620/7 an extent of 571 Sq.yards of vacant house site with Mangalore tiled house present D.No 10-163,Gandhi nagar, Gollaprolu,EG Dist. A P . House and site is bounded by Item No.1 : Boundaries for an extent of 323 Sq.yards site with Mangalore tiled Roof House

East: Wall of Penkatkota Pola Rao to some extent ,Wall of Nallam Rama krishna to some extent 49 feet South: Item No.4 of this schedule i.e passage to some extent ,site of Padala Krishna to some extent 65 feet 3 inches West: House of Gajula Seshagiri Rao to some extent ,Item no.3 i.e passage to some extent-44 feet North: Site of Item no.2 of the Schedule-59 feet 9 inches

Item No 2: Boundaries for an extent of 150 sq.yards site with ACC shed

East: Wall of Penkatkota Pola Rao to some extent 34 feet 3 inches South: Item no.1 of this schedule-48 feet West: House of Karanam Gopalakrishna-27 feet North: House of Gajula Raja,Sai Manikankara Soma Raju-40 feet

Item No 3.Boundaries for an extent of 34 Sq, yards passage

East: Item no.1 of the schedule to some extent,Item no.2 of the schedule to some extent-8 feet 9 inches South: House of Gajula Seshagiri Rao-31 feet West: Raja veedhi-10 feet 9 inches North: House of Karanam Gopalakrishna Murthy-31 feet

Item No.4 : Boundaries for an extent of 30 Sq.yards passage

East : Wall of Padala Papayya-44 feet 3 inches South: Item no.5 of this schedule-6 feet West: Site of Padala Krishna 44 feet 3 inches North: Item no.1 of this schedule-6 feet

Item No.5 : Boundaries for an extent of 34 Sq. yards passage

East: Raja veedhi-4 feet 6 inches South:Site of Padala Konda Rao-67 feet 3 inches West: Site of PaKala Krishna -4 feet 6 inches North: Item no.4 of this schedule to some extent, site of Padala Papayya to some extent- 67 feet 3 inches

Total extent of Item No.s 1 to 5 is 571 Sq.yards or 473.430 Sq.mts. with Mangalore tiled house, ACC shed with all Easementary rights, water sources and common passages etc.

b) As per Original Regd. Gift settlement deed No.3876/2006 dt.30.11.2016 Mr. Gajula Seshagiri Rao S/o Mr.Soma Raju, details of schedule property as under: The Schedule property situated at EG Dist. Pithapuram Sub-Registry, Gollaprolu Mandal, Gollaprolu Nagar Panchayat ,Gollaprolu an extent of 138 Sq.yards or 305.379 Sq.mts,, vacant house site with RCC roof building therein Ground and 1st floor bearing D.No.10-172,Block no.9,Gollaprolu,Gollaprolu Panchayat, Gollaprolu Mandal, EG Dist. A P., bounded by

East: House bearing D.No.10-163 belongs to Gajula Seshagirirao-39 feet 4 inches South: Site of Tummalapalli Veera Kumari to some extent,Padala Krishna to some extent-31 feet West: Raja veedhi-40 feet North: Passage belongs to Gajula Seshagiri Rao-31 fee Within all Easementary rights, water sources and common passages etc.house and site, with an extent of 138 Sq.yards.

Reserve Price: Rs.72,41,000/- E.M.D @ 10% of Reserve Price Rs.7,24,100/- Madam/Dear Sir,

The undersigned being the Authorised Officer of Bank of India is having full powers to issue this notice of sale and exercise all powers of sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Rules framed there under.

The borrower and after his demise you have committed default in repayment of the dues with interest and costs and charges etc in respect of the advances granted by the bank mentioned above. Hence the bank has issued a Demand Notice dated 04-11-2018 to all of you under section 13(2) to pay the amount mentioned thereon within 60 days. All of you failed to pay the amount even after the expiry of 60 days. Therefore the Authorised Officer, in exercise of the powers conferred under section 13(4), took possession of the secured asset, described in the e-auction sale notice published in EENADU (Telugu) and THE HINDU (English) Daily Newspapers published on 08.03-2019 . E-auction to be held on following dates and time with the following terms and conditions are as under Notice is hereby given to the legal hier of deceased borrower /guarantor to pay the sum as mentioned above before the date fixed for sale failing which the property will be sold and balance due, if any, will be recovered with interest and cost. Please note that all expenses pertaining to demand notice, taking possession, valuation and sale etc. Shall be first deducted from the sale proceeds, which may be realized by the undersigned and the balance of the sale proceeds will be appropriated towards your liability as aforesaid.

Description of Property Date & Time of E- Reserve Price EMD Auction 10.04-2019 Rs.72,41,000/-E.M.D at 11.00 A.M @ 10% of a) The Scheduled property situated at to 12-00 Noon Reserve Price EG Dist.Pithapuram Sub-Registry, Rs. 7,24,100/- Gollaprolu Mandal, Gollaprolu (Afternoon) with Nagar Panchayat, Gollaprolu S.No auto unlimited 616/6,620/7 an extent of 571 extension of Sq.yards of vacant house site with 3 minutes each. Mangalore tiled house present D.No 10-163,Gandhi nagar, Gollaprolu,EG Dist. A P . House and site is bounded by Item No.1 : Boundaries for an extent of 323 Sq.yards site with Mangalore tiled Roof House

Item No 2: Boundaries for an extent of 150 sq.yards site with ACC shed

Item No 3.Boundaries for an extent of 34 Sq, yards passage

Item No.4 : Boundaries for an extent of 30 Sq.yards passage

East : Wall of Padala Papayya-44 feet 3 inches South: Item no.5 of this schedule-6 feet West: Site of Padala Krishna 44 feet 3 inches North: Item no.1 of this schedule-6 feet

Item No.5 : Boundaries for an extent of 34 Sq. yards passage

Total extent of Item No.s 1 to 5 is 571 Sq.yards or 473.430 Sq.mts. with Mangalore tiled house, ACC shed with all Easementary rights, water sources and common passages etc.

b) As per Original Regd. Gift settlement deed No.3876/2006 dt.30.11.2016 Mr. Gajula Seshagiri Rao S/o Mr.Soma Raju, details of schedule property as under:

The Schedule property situated at EG Dist. Pithapuram Sub-Registry, Gollaprolu Mandal, Gollaprolu Nagar Panchayat ,Gollaprolu an extent of 138 Sq.yards or 305.379 Sq.mts,, vacant house site with RCC roof building therein Ground and 1st floor bearing D.No.10- 172,Block no.9,Gollaprolu,Gollaprolu Panchayat, Gollaprolu Mandal, EG Dist. A P., bounded by

TERMS & CONDITIONS:

The auction sale will be Online E-Auction / Bidding through website on 10-04-2019 from 11-00 am to 12-00 noon with auto unlimited extensions. The Last date for submission/uploading of bids is 09-04-2019 by 4:00 pm.

1. Intending bidders shall hold a valid email address, PAN card. For any details with regard to participating in e-auction, please contact M/s. E-procurement Technologies Ltd, B-704/705,Wall street – II, Opp. Orient Club, Near Gujarat College, Ellis Bridge, Ahmedabad-380006 https://boi.auctiontiger.net 079-40230825/826/827/816, Mobile No.+919979543878 Email:[email protected] and [email protected] Ravikumar Chukka ( Visakhapatnam) 8008617666 [email protected] 2. Bidders are advised to go through the website for detailed terms and conditions of auction sale before submitting their bids and taking part in the E-auction sale proceedings. 3. Bids shall be submitted through online procedure only in the prescribed format with relevant details. 4. Earnest Money Deposit (EMD) shall be deposited through RTGS/NEFT/Fund Transfer to the credit of Account No A/c No.865220110000400 IFSC Code: BKID0008652 of Bank of India, Gollaprolu Branch before submitting the bids online.

5 copy of duly filled in bid form along with the enclosures submitted online, indicating UTR No of EMD to be forwarded to the Authorised Officer, Bank of India,Gollaprolu Branch Postal delays are not entertained and bank is not responsible. The bid price to be quoted and submitted online shall be above the Reserve Price and bidders shall improve their further offers in multiplies of Rs.10,000/- (Rupees Ten Thousand only ) 6 The successful bidder shall have to pay 25% (inclusive of EMD) of the sale price immediately on closure of the day of e-auction sale in the same mode as stipulated in clause-4 above. The balance of 75% of sale price to be paid within 15 days from the date of sale. Failure to deposit 25% and or 75% of sale price, gives right to bank to appropriate 10% and or 25% of the sale price and to go for auction of property again. 7 The sale is subject to confirmation by the Bank. If the Legal hires of borrower/guarantor pays the amount due to the bank before date of sale or transfer of asset, no sale will be conducted / effected. EMD of unsuccessful bidders will be returned on the closure of E-Auction proceedings. 8 The property is sold in “as is where is, whatever there is and without recourse basis conditions ” and the intending bidders should make discreet enquires as regards any claim, charges on the property of any authority, besides the Bank’s charges and should satisfy themselves about the title, extent, quality, boundaries of the property before submitting their bid. No claim of whatsoever nature regarding the property put for sale, charges/encumbrances over the property or on any other matter, etc., will be entertained after submission of online bid. 9 The undersigned has the absolute right and discretion to accept or reject any bid or adjourn/cancel /postpone the sale/combine two or more properties into one or to divide one property into two or more properties / modify any terms and conditions of the sale without any prior notice and assigning any reason. 10 The purchaser shall bear the stamp duty, charges including those of sale certificates, registration charges, all statutory dues payable to government, taxes and rates and outgoings, both existing and future relating to the property. The sale certificate will be issued only in the name of the successful bidder. 11 INSPECTION OF PROPERTY. The intending purchasers can inspect the property with prior appointment at his/her expenses. For inspection of the properties, please contact, Mr N.Jejeswara Rao, Chief Manager Mobile: 9441172802 12 Prospective bidders are advised to peruse the copies of title deeds with the bank and verify the latest Encumbrance Certificate and other Revenue/Municipal records to exercise diligence and satisfy themselves on title and Encumbrances if any over the property. 13 Bids once made shall not be cancelled or withdrawn. All bids made from the user ID given to bidders will be deemed to have been made by him only. 14 Bidder shall be deemed to have read and understood the terms and conditions of sale and be bound by them. 15 The sale is subject to the conditions prescribed in the SARFAESI Act/Rules 2002 amended from time to time and the Terms and conditions mentioned above and also subject to pending cases before any court/Tribunal/ Forum , if any. 16 The bidders may participate in E-auction for bidding from their places of choice; internet connectivity shall have to be ensured by the bidder himself. Bank/Service provider shall not be held responsible for internet connectivity, network problems, systems crash down, power failures etc.

17 The Intending Participants/bidders are requested to see the website https://boi.auctiontiger.net and also advised to contact for further details, inspection of property, Terms and Conditions etc. Mr N.Venkata Ramana, Manager Gollaprolu Branch Mobile: 9247422744, Bank of India, Gollaprolu Branch, East Godavari District, Land line No:08869231288, Authorised Officer, Sri N.Jejeswara Rao, Chief Manager, AMO Kakinada,Mobile No.9441172802, Land Line No. 088 42358678

Date: ______Authorised Officer Place______BANK OF INDIA