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Guntur Branch, 10-1-1, 1St Line GUNTUR BRANCH, 10-1-1, 1ST LINE, SAMBASIVAPET, NAAZ CENTRE, GUNTUR-522001, PHONE : 0863-2220061,2220804 SALE NOTICE (By e-auction mode) Notice of sale under Rule , 8(6) & Rule 9(1) of The Security Interest (Enforcement ) Rules 2002 under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 1) M/s Vijayadurga Cotton Industries, Regd Office: 304, Orchid South Block, Brundavan Enclave, Etukuru Road, Guntur- 522 001, Factory at D.No.144/F, Ananthavarappadu Road, Etukuru, Guntur dist. 2) Mrs Papineni Sai Rajani, W/o Appa Rao, 304, Orchid South Block, Brundavan Enclave, Etukuru Road, Guntur - 522 001, 3) Mr Linga Venkateswarlu, S/o Chinna Narasaiah, Mutukuru Village & Post, Durgi Mandal, Guntur District- 522 612, 4) Mrs Linga Padmavathi, W/o Linga Venkateswarlu, Mutukuru Village & Post, Durgi Mandal, Guntur District – 522 612, 5) Pavuluri Muralikrishna, S/o Subbaiah, D.No.4-3-47/A1, Ramannapeta 1st Line, 1st Cross Road, GUNTUR - 522 006, 6) Papineni Vishnu Vardhan, S/o Appa Rao, 304, Orchid South Block, Brundavan Enclave, Etukuru Road, Guntur- 522 001, 6) Papineni Partha Saradhi, S/o Appa Rao, 304, Orchid South Block, Brundavan Enclave, Etukuru Road, Guntur- 522 001. Sub: Loan accounts of M/s. Vijayadurga Cotton Industries, 304, Orchid Block, Brundavan Enclave, Etukuru Road, Guntur , 522 001 M/s. Vijayadurga Cotton Industries availed facilities from Indian Bank, GUNTUR Branch, the repayment of which are secured by mortgage/ hypothecation of schedule mentioned Properties hereinafter referred to as “the Properties” M/s Vijayadurga Cotton Industries failed to pay the outstanding to the bank. Therefore a Demand Notice Dated 23/03/2017, under Sec 13 (2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (for short called as “The Act”),was issued by the Authorised Officer calling upon M/s Vijayadurga Cotton Industries and others liable to the Bank to pay the amount due to the tune of Rs.5,82,78,819/- (Rupees Five Crores Eighty Two Lakhs Seventy Eight Thousands Eight Hundred and Nineteen only) as on 31.01.2017 with further interest, costs, other charges and expenses thereon. M/s Vijayadurga Cotton Industries failed to make payment Despite Notice Dated 23/03/2017. As M/s Vijayadurga Cotton Industries failed to make payment despite Demand Notice, the Authorised Officer took Possession of the schedule mentioned properties under the Act on 31.07.2017, after complying with all legal formalities. The amount due as on 31.10.2017 is Rs.6,45,47,557/- (Rupees Six Crore Forty Five Lakhs Forty Seven Thousands Five Hundred and Fifty Seven only) with further interest, costs, other charges and expenses thereon. In exercise of powers under Sec.13(4) of the Act, the Authorised Officer proposed to sell the schedule mentioned securities in e auction mode The date of sale is fixed as 19.12.2017 by e-auction mode. The Tender/bid Form with the terms and conditions can be had on-line from the website http://www.bankeauctions.com and using the provision in the system / software, the same could be procured using the ‘seal bid option’ such that the activities could be done online. The tender form and the terms and conditions would be available in the website from 30.11.2017 to 18.12.2017, from 10.00 am to 5.00 pm. The last date for submitting tenders/bids complying with all necessary terms along with EMD in the stipulated manner is 18.12.2017 by 5.00 PM. The tenders/bids shall be opened on 19.12.2017 in the e auction mode. The Inspection of the Schedule mentioned property and related documents and up to date EC may be had by the intending purchasers/bidders at his expense on 12.12.2017 between 10.00 am to 5.00 pm. The Reserve price and Earnest Money Deposit (EMD) for the sale of the secured assets is fixed as mentioned in the schedule. The sealed tenders should be accompanied with EMD taken in DD / RTGS / NEFT / Account Transfer and / or any other acceptable mode of money transfer without time lag, failing which the tender becomes disqualified. The Nodal Bank account No./IFSC Code etc. for online money transfer is as under: Nodal Bank A/c No. & Name : 6125500634 e-auction EMD A/C Vijayawada Zone IFSC Code : IDIB000G001 The sale shall be conferred on the person making highest offer / tender / bid subject to confirmation by Secured Creditor. The Authorised Officer reserves right to accept or reject the bid / tender without assigning any reason whatsoever. Once the auction/ e-auction is completed and sale is conferred on the person making the highest offer / tender / bid, the successful bidder will be intimated in person / by email, as the case may be, who has to remit 25% of the bid amount (less the EMD) immediately by DD / RTGS / NEFT / Account Transfer and/ or any other acceptable mode of money transfer, failing which the EMD amount remitted will stand to be forfeited. The balance sale price shall be paid within 15 days of confirmation of sale or extended time in writing. If the balance amount is not remitted within stipulated/agreed time, the amount of 25% remitted will also stand to be forfeited. The sale is subject to confirmation by the Secured Creditor. The sale is made on “As is where is and As is What is” basis and no representations and warranties are given by the Bank relating to encumbrances statutory liabilities etc. If the e auction fails due to any technical snag etc, the same may be rescheduledAD-3, SIZE :by 8X13 issuing 7 days prior notice. This Notice is without prejudice to any other remedy available to the Secured Creditor. SCHEDULE : DESCRIPTION OF MOVABLE / IMMOVABLE PROPERTIES AND DETAILS OF RESERVE PRICE AND EMD Sl Name of the Owner of the Property Details of Property Reserve Price Date/Time of No. EMD e-Auction Bid Increase Amount 1 M/s Vijayadurga Plant & Machinery in Cotton Ginning and Pressing TMC Unit with 18 Gins (Bajaj Make), Hydraulic 1,35,00,000/- 19.12.2017 Cotton Industries Bale Press and other related machinery, situated at M/s Vijayadurga Cotton Industries, at D.No.144/F, 13,50,000/- 10.30AM to Ananthavarappadu Road, Etukuru, Guntur Dist 1,00,000/- 11.30AM 2 Sri Papineni Appa Rao Land and Buildings of M/s Vijayadurga Cotton Industries, at D.No.144/F, Ananthavarappadu. Land 2,70,00,000/- 19.12.2017 & Smt P Sai Rajani) Extent of 6122.80 Sq. Yds, with industrial sheds in 14225 Sq. ft, with other amenities Property 27,00,000/- 10.30AM to Bounded by : North : Guntur to Vatticherukuru Road South: Adapala Dayakar Reddy Property 11.30AM East : Land of Vemula Nagalakshmi, West : Property of J Subba Rao & CH Appaiah. 1,00,000/- 3 Sri Papineni Appa Rao Land in D.No. 410B, Etukuru Village, Ac 1.00 Cents out of Ac 1.98 Cents, situated in Etukuru 78,00,000/- 19.12.2017 Gram Panchayat, Guntur Dist, Guntur Sub Dist, Property Bounded by : North : Land of Pati 7,80,000/- 12.30PM to Hanumayamma, South : Donka, East : Land belonging to G Venkateswara Rao/Others, West : 1.30PM Property of G Peda Sambaiah. 1,00,000/- 4 Sri Papineni Appa Rao Land in D.No. 340/B, Budampadu Village, Ac 1.30 Cents out of Ac 2.60 cents, situated in Budampadu 72,00,000/- 19.12.2017 Gram Panchayat, Guntur Dist, Guntur Sub Dist, Property Bounded by : North : Land belonging to 7,20,000/- 12.30PM to Narra Seshagiri Rao, South : Land of P. Venkateswara Rao, East : Land of Narra Seshagiri Rao, 1.30PM West : Land of Narra Narayana. 1,00,000/- 5 Sri Papineni Appa Rao Land in D.No. 376, Budampadu Village, Ac 0.77 Cents out of Ac 3.86 cents, situated in Budampadu 46,20,000/- 19.12.2017 Gram Panchayat, Guntur Dist, Guntur Sub Dist, Property Bounded by: North : Land belonging 4,62,000/- 02.30PM to to Sanga Subbamma South : Land belonging to Yerraguntla Ramaiah , East : Land sold by Ch. 03.30PM Subbayamma, West : Land Belonging to Yerraguntla Nagaiah. 50,000/- 6 Sri Papineni Appa Rao Land in D.No. 376, Budampadu Village, Ac 1.20 Cents out of Ac 12.18 cents, situated in Budampadu 75,00,000/- 19.12.2017 Gram Panchayat, Guntur Dist, Guntur Sub Dist, Property Bounded by: North : Land belonging to 7,50,000/- 2.30PM to Yerraguntla Subba Rao, South : Land of P. Appa Rao, East : Land belonging to Sanga Sambaiah, 3.30PM West : Land of Sanga Subba Rao. 1,00,000/- 7 Sri Linga Residential Vacant site, extent 203 Sq.Yds out of 395 Sq. yds, in Sangadigunta Area, Guntur 30,00,000/- 19.12.2017 Venkateswarlu Municipal Corportion Limits, D.No. 1149, Re Survey No. 217/2014/TS Dated 19.04.2014, D.No. 3,00,000/- 10.30AM to 1149/1, situated in Guntur Village, Guntur Dist, Guntur Sub District, Property Bounded by: North: 11.30AM Site belonging to Mareddy Venkatalakshmi, South: Site belonging to Meda Narasaiah, East : Road 50,000/- 25.0 ft, West: Road 25.0 ft. (Note: Item No.1 and 2 will be sold combinedly, with separate bids) Bidders are advised to visit the website (http://www.bankeauctions.com) of our e-auction service provider M/s.C1 India Pvt Ltd., for auction bid form and detailed terms and conditions which are annexed to the bid. The helpline numbers to get assistance during the entire process is given below Details : Name of Service Provider: C1 India Pvt.
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