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Indian Overseas Bank Pallavan Salai Branch (1741) Place : Chennai Pallavan House Date : 03/08/2019 Chennai-600002 Tel:044-25361015

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Indian Overseas Bank Pallavan Salai Branch (1741) Place : Chennai Pallavan House Date : 03/08/2019 Chennai-600002 Tel:044-25361015 Indian Overseas Bank Pallavan Salai Branch (1741) Place : Chennai Pallavan House Date : 03/08/2019 Chennai-600002 Tel:044-25361015 ------------------------------------------------------------------------- To 1) Mr.C Madanpandian S/o K Chelladurai New No.1,Annaswamy street Choolaimedu Chennai-600094 2) Mr.K Chelladurai S/o Karuthapandi New No.1,Annaswamy street Choolaimedu Chennai-600094 NOTICE OF SALE OF MOVABLE /IMMOVABLE SECURED ASSETS (ISSUED UNDER RULE 6,8(5) AND 9(1) OF THE SECURITY INTEREST (ENFORCEMENT)RULES,2002 Sir, 1. This has reference to recovery actions initiated against you under the provisions of the SARFAESI Act 2002. 2. Please refer to the possession notice dated 24.05.2016 issued to you regarding taking possession of the secured assets situated at Mangadu Village & Town Panchayath,Sriperumbathur Taluk,Kanchipuram District ie All that piece and parcel of land and building property (Residential Flat in First Floor) having a total built up area of 855 sq.ft located at Flat No.F2, First Floor, Sri Vaaru Flats, Plot No.2, Devaki Ammal Street, Sri Ambal Gajalakshmi nagar Annex-1, Mangadu, Chennai – 600122 , with UDS of 413sqft out of 2400 sq ft and super built up of 855 sq ft bounded on the North by:Belongs to B Balakrishnan Land,South by:Plot No.1,East by Thiruvalluvar City-III,West by:20 Feet Road(Devaki Ammal Street) and the publication of the said possession notice in The New Indian Express & Dinamani (Chennai) on 29.05.2016 by the undersigned for the purpose of realization of the secured assets in exercise of the powers conferred on the bank as Secured Creditor under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 and the Rules there under. 3. You the above named borrowers / mortgagors / guarantors have failed to pay the dues in full save and except payments amounting to Rs.36,36,818/- after issuance of demand notice dated 22.01.2016 Hence it is proposed to sell the secured assets mentioned in the Schedule below on “as is where is” and “as it is what is” condition under Sec 13(4) of the Act read with Rules 8 & 9 of the Security Interest (Enforcement) Rules, 2002. 4. The dues as on 01/08/2019 of Mr.C Madanpandiyan and K Chelladurai work out to Rs. 40,62,000/-(Rupees Forty Lakhs Sixty Two Thousand only) after after reckoning repayments, if any, subsequent to the Bank issuing demand notice. 5. It is proposed to sell the above mentioned mortgaged security i.e residential flat bearing Flat No.F2, First Floor, Sri Vaaru Flats, Plot No.2, Devaki Ammal Street, Sri Ambal Gajalakshmi nagar Annex-1, Mangadu, Chennai –600122 on 22.08.2019 between 11.00 a.m and 1.00 p.m. through Eauction by inviting tenders to be submitted on or before 5.00 pm on 21.08.2019 through online. The Schedule below on “as is where is” and “as it is what is” condition under Sec 13(4) of the Act read with Rules 8 & 9 of the Security Interest (Enforcement) Rules, 2002. 6. We hereby give you notice of 15 days that the below mentioned secured assets shall be sold by the undersigned on 22.08.2019 between 11.00 am and 01.00 pm with auto extension of five minutes through e-auction using (Web portal). 7. A copy of the E-auction notice inviting offers for e-auction setting out the terms & conditions of sale such as particulars of the secured asset, the dues of the Bank, reserve price, earnest money deposit, date and time fixed for inspection, last date for submission of offers and date, time of sale etc is enclosed for your ready information. Please also be advised that the said sale notice will also be published in The New Indian Express & Dinamani (Chennai) shortly. A copy of the proposed paper publication is also enclosed. This is without prejudice to the other legal remedies/measures available to us as per the law in order to realize our dues which we have already initiated/going to be initiated. Yours Faithfully Authorised officer 1. E-auction notice containing terms and conditions 2. Proposed paper publication of E-auction notice Indian Overseas Bank Pallavan Salai Branch (1741) Place : Chennai Pallavan House Date :03/08/2019 Chennai-600002 ------------------------------------------------------------------------- SALE NOTICE OF IMMOVABLE SECURED ASSETS Issued under Rule 8(6) and 9(1) of the Security Interest (Enforcement) Rules 2002 To 1) Mr.C Madanpandian S/o K Chelladurai New No.1,Annaswamy street Choolaimedu Chennai-600094 2) Mr.K Chelladurai S/o Karuthapandi New No.1,Annaswamy street Choolaimedu Chennai-600094 Whereas Mr. C Madapandian and K Chelladurai, New No. 1, Annaswamy Street, Choolaimedu, Chennai 600094, had borrowed monies from Indian Overseas Bank against the mortgage of the immovable properties more fully described in the schedule hereunder and on upon classification of the account as NPA, the Bank has issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 (Act) on 22.01.2016 calling upon the borrower /mortgager / guarantors mentioned above to pay the amount due to the Bank, being Rs. 36,36,818/-payable together with further interest at contractual rates and rests alongwith costs, charges etc till date of repayment within 60 days from the date of receipt of the said notice. Whereas the borrower/mortgagor/guarantor 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 24.05.2016 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 of the borrower as on 01.08.2019 is Rs. 40,62,000/- PLUS further interest and statutory dues if any 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. SCHEDULE OF PROPERTIES All the piece and portion Mangadu Village & Town Panchayath,Sriperumbathur Taluk, Kanchipuram District i.e. All that piece and parcel of land and building property (Residential Flat in First Floor) having a total built up area of 855 sq.ft located at Flat No.F2, First Floor, Sri Vaaru Flats, Plot No.2, Devaki Ammal Street, Sri Ambal Gajalakshmi nagar Annex-1, Mangadu, Chennai – 600122 , with UDS of 413sqft out of 2400 sq ft and super built up of 855 sq ft. Boundaries North by:Belongs to B Balakrishnan Land, South by:Plot No.1, East by Thiruvalluvar City-III, West by:20 Feet Road(Devaki Ammal Street) Date and time of e-auction 22.08.2019 between 11.00 a.m to 01.00 p.m with auto extension of minutes each till sale is completed. Reserve Price Rs. 32,00,000/- Earnest Money Deposit Rs. 3,20,000/- EMD Remittance Deposit through EFT/NEFT/ RTGS Transfer in favour of “IOB Cathedral Branch” to the credit of A/C No.010902000970853 Indian overseas bank, Cathedral Branch. 762, Anna Salai, Chennai 600002 Branch Code: 0109, IFSC Code IOBA0000109 Bid Multiplier Rs.1,00,000/- (the amount in multiples of which the bid is to be increased) Inspection of property 13.08.19 between 11.00 am to 5.00 pm Submission of online application for 05.08.2019 onwards bid with EMD Last date for submission of online 21.08.2019 upto 5.00PM application for BID with EMD Known Encumbrance if any NIL *Outstanding dues as on 01.08.2019 Rs. 40,62,000/- with further interest and costs thereon and dues of local self- government (Property Tax,Water sewage, Electricity bills etc) *Bank’s dues have priority over the statutory dues. Terms and Conditions 1. The properties will be sold by e-auction through the Bank’s approved service provider M/s .Matexnet P 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 (www.matexauctions.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/e-mail. 4. Bids in the prescribed formats shall be submitted “online” through the portal-- www.matexauctions.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 5.00 P.M hours on 21.08.2019. 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.
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