BY REGISTERED POST WITH A/D
NOTICE OF SALE TO THE BORROWER UNDER RULES 8 & 9 OF THE SECURITY
INTEREST ENFORCEMENT) RULES,2002
Ref No.BOI: SALE NOTICE: 2020-2021: 225 DATE:24.02.2021 1) Mrs.R.Meghala, W/O T.Ravikumar(Borrower) 1A Subramanya Avenue, Valmiki Nagar Thiruvanmiyur, Chennai-41 Also residing at: 19/12, 1st floor, MG Road, Kalashetra Colony Besant Nagar,Chennai-600090.
2) Mr.T.Ravikumar, S/O Mr.M.Thamal Das (Co-Borrower), 1A Subramanya Avenue, Valmiki Nagar Thiruvanmiyur, Chennai-41 Also residing at: 19/12, 1st floor, MG Road, Kalashetra Colony Besant Nagar,Chennai-600090.
3) Mr.P.Gurusamy, S/o Mr.Perumal (Guarantor) No.71, Valmiki Street, Thiruvanmiyur, Chennai 600041
Dear Sir/Madam, Re: Notice for sale of secured assets under the securitization and reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Rules framed there under
The undersigned being Authorized officer of Bank of India is having full powers to issue this notice of sale and exercise all the powers of sale under the Securitization of Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Rules framed thereunder.
You have committed default in payment of the outstanding dues of Star Home loan A/C of Rs.41,46,305.90 Ps Plus interest @ 9.00% p.a from 29.07.2020 and Loan against property of Rs.73,98,645.71 Ps with interest @10.50 % p.a from 29.07.2020 aggregating to Rs.1,15,44,951.61 Ps ( Rupees One crore Fifteen lakhs Forty Four thousand nine hundred and fifty one and Paise sixty one) plus interest as stated above at monthly rest from 29.07.2020 (plus applicable penal interest if any) at monthly rests together with costs, charges, etc in respect of credit facilities availed from our adyar branch. Hence the bank has issued a Demand notice dated 18.09.2020 to pay the above mentioned amount within 60 days. You have failed to pay the amount in full even after the expiry of 60 days. Therefore, the Authorized officer, in exercise of the powers conferred under Section 13(4) took possession of the secured assets, more particularly described in the schedule, hereunder on 19.11.2020.
Present outstanding dues in Star Home Loan A/C is Rs.41,46,305.90 Ps plus interest @ 9.00% from 29.07.2020 and Loan against property A/C is Rs.73,98,645,71 Ps plus interest @ 10.50 % from 29.07.2020 aggregating to Rs. 1,15,44,951.61 Ps(Rupees One crore fifteen lakhs forty four thousand nine hundred and fifty one and paise sixty one) plus applicable interest at monthly rests together with costs, charges etc. The notice is hereby given to you all to pay the sum as mentioned above before the date fixed for sale, failing which the secured assets shall be put up for sale in the following mode in my discretion either in one or more lots and on the terms and conditions as will be stipulated by the undersigned:-
Mode of Sale: By holding public auction through ‘On line E-Auction’/Bidding Thro’ Website https://www.mstcecommerce.com
Date of Sale : 18.03.2021
Time of Sale : Scheduled Property : Between 1.00 PM to 2.00 PM
With unlimited extensions of ten minutes duration each
Reserve Price : Rs.185.30 Lakhs (Rupees One hundred and eighty five lakhs and thirty thousand only)
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. You are at liberty to participate in the sale to be held on the terms and conditions there of including deposit of earnest money or may bring suitable buyers.
Please look at the sale advertisement that will appear in newspapers in due course.
DESCRIPTION OF THE IMMOVABLE PROPERTY
Equitable Mortgage of Residential property with all that piece and parcel of Building and land, situated at Plot No.61, VGP Selva Nagar Extension 5th street, Velacherry, Chennai-600042 comprised in S.No.321, Velacherry Village, Mambalam Guindy Taluk, Chennai District of Velacherry belonging to the borrower Mrs.R.Meghala bounded on the:
North By: Plot No.78 Kumaran Foundation apartment
South By: 40 Feet proposed road
East By : Plot No.60-Vacant site
West By : Plot No.62-Vacant site
Please importantly note that any payment made after the issuance of Demand Notice the same will be reckoned with at the time of adjustment/ closure of the loan account.
Yours Faithfully,
Place: Chennai
Date : 24.02.2021 AUTHORIZED OFFICER