Phone : 0424-2225399
Indian Overseas Bank Thirunagar Colony Branch.
164/3, Ground floor, Muthumariamman Koil Street E-mail: [email protected]
Thirunagar Colony, Erode-638003
e-AUCTION SALE NOTICE FOR SALE OF IMMOVABLE PROPERTIES OTICE UNDER SARFA02 E-Auction Sale Notice for Sale of Immovable Assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with proviso to Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002.
Notice is hereby given to the public in general and in particular to the borrower (s) and guarantor (s) that the below described immovable property(ies) mortgaged/charged to the Secured Creditor, the constructive/symbolic possession of which has been taken by the Authorised Officer of Indian Overseas Bank, Secured Creditor, will be sold on “As is where is”, “As is what is” and “Whatever there is” on 21.10.2020 for recovery of Rs 47,86,774.59 (Rupees Forty Seven Lakhs Eighty Six Thousand Seven Hundred Seventy Four and Paise Fifty Nine only) as on 31.08.2020 due to the Indian Overseas Bank, Secured Creditor from the borrower (s) M/s Jayashree Traders Represented by its proprietor: Mr R Balasubramani (Borrower/mortgagor) 271, Odni Karuppannam Thottam, Kongam Palayam, Sathy Main Road, Cithode Erode-638102
And Guarantor(s)
Mrs. B Gomathi (Guarantor/Mortgagor) W/o Balasubramani No:72, Renga street, Erode-638003
Mrs Malar B (Guarantor/Mortgagor) Old No:66, New No: 49, Pappathikadu-1 Erode-638003
Mrs.Lakshmi R (Guarantor/Mortgagor) 97, Kannayan Street-1, Erode-638003
Mrs. Mariyammal A (Guarantor/Mortgagor) Old No:1A, New No: 2A, Kalaivanner Veethi, Veerappanchatram, Erode-638004
Mrs. Vadamani S (Guarantor/Mortgagor) Old No:1A, New No: 2A, Kalaivanner Veethi, Veerappanchatram, Erode-638004
Mr.Tamilselavan S (Guarantor/Mortgagor) Old No:1A, New No: 2A, Kalaivanner Veethi, Veerappanchatram, Erode-638004
Mr. Prakash (Guarantor/Mortgagor) Old No:1A, New No: 2A, Kalaivanner Veethi, Veerappanchatram, Erode-638004
Description of the Immovable property(ies) Property 1 Erode Registration District, Erode Sub-RD, Erode Taluk, Erode R S No 432/1A1, n.p.h. 1.50.5, for this Kist Rs.6.28, old S F No.494A, in the centre of p.a.0.24 1/3 of land, after the pathway allocated by Subramaniam Pillai and Krishnamoorthy, the entire extent of land is divided into house sites, Site No.3 is situated within the following boundaries, In this, East To : 10 feet width North-South road allocated by Arumugam Vagaiyara North To : Site No 2 West To : Site No 4 South To : Land of A Muthusamy In the admeasuring, North-South on both sides 20 feet, East-West on both sides 38 feet; ie, total extent of 760 Sq ft of House Site with 411 sq ft residential building at Door No 217/1 and the common right of using 16 feet width East-West road, 10 feet width North-South road, 8 feet width North-South road. The schedule mentioned property situated within the limits in Veerappan Chatram Panchayat
The Property is in the name of Mr. R Balasubramanian S/o Ramasamy and Mrs B Gomathi W/o R Balasubramanian
The reserve price will be Rs. 1254000/- and the earnest money deposit will be Rs. 125400/-
Property 2 In Erode RD, Bhavani Sub RD, Bhavani Taluk, Mylambadi village and Panchayat, Old SF No: 774, 785, 789, R S No: 544/1 in this 6 Acres of Punja lands; out of which 4.00 Acres were sold by Velayammal & Sathyavathi, thus remaining extent of 2.00 Acres within the following Boundaries; North of : Land belongs to Sulochanadevi & Srinithan East of: Land belongs to Chinnappa Gounder & Others South of: Mondipalayam to Pudupalayam Panchayat Road West of: Land belongs to Madeswaran Out of the said extent of 2.00 Acres the common half to an extent of 1.00 Acre of punja land now subdivisioned and allocated a New Resurvey No: 548/2 under Patta No: 1619, mamool pathway rights & with all rights as mentioned in the Registered Sale Deed in Doc No: 1436 of 2015 dated 12-03-2015 and with AC sheet Roof Industrial Building to be constructed therein with all amenities etc..
The Property is in the name of Mr. R Balasubramanian S/o Ramasamy and Mrs B Gomathi W/o R Balasubramanian
The reserve price will be Rs. 3325000/- and the earnest money deposit will be Rs. 332500/-
Property 3
Erode RD, Avalpoondurai SRD, Erode Taluk, Modakkurichi Village, Modakkurichi Town Panchayat, Old SF Nos. 425-G, 425-F, 426-C, RSF No-569/18, 19, House site No:9
R.S No: 569/18, P Hec 0.64.5, Kist Rs 2.70
R.S No: 569/19, P Hec 0.19.5, Kist Rs 0.81
Total P Hec 0.84.0
Out of the said extent of lands, an extent of 1.00 Acre of Punja land has been divided in to House Sites and formed a layout, in this an extent of 1846 sq ft of vacant house site land bearing Site No: 9 within the following Boundaries:
North of Property belongs to Balasubramaniam
South of 25 ft width East-West road,
East properties of Logasundaramoorthy & Govindaraj,
West of House Site No: 8
Measuring;
South-North: 70 ft on the eastern side
South-North: 72 ft on the western side East-West: 30 ft on the northern side
East-West: 22 ft on the southern side
The said extent of 1846 sq ft/171.6 sq m of vacant house site land with all rights as mentioned in the registered sale deed dated 04.02.2011 in Doc No: 792/2011 of SRO, Avalpoondurai etc..
The Property is in the name of Mrs. Lakshmi D/o Chinna Naicker
The reserve price will be Rs. 788500/- and the earnest money deposit will be Rs. 78850/-
Property 4
Erode RD, Avalpoondurai SRD, Perundurai Taluk, Vadamugam Vellode village and Panchayat, Old S F Nos: 17-B, 25,26,27,40,42,43, R S F No: 45/2, 46/1,2, House site No-526
R.S No: 45/2,P.Hec 2.52.5, Kist Rs 5.05
R.S No: 46/1,P.Hec 2.63.0, Kist Rs 7.29
R.S No: 46/2,P.Hec 1.17.5, Kist Rs 2.35
Total; P Hec 6.33.0
Out of the said extent of lands, an extent of 1.00 Acre/43600 Sq ft of land has been divided in to House sites by forming a layout duly approved by Director of Town and Country Planning (DTCP) in approval Ma.Va/Na.Vu.E.No: 170/2001 named as “Kumaran Nagar” and now called as “ Sree Thirupathi Lakshmi Garden”, in this an extent of 1500 sq ft of vacant house site land bearing Site No: 526 within the following boundaries:
North of House Site No: 539
South of 40 ft width East-west road
West of House Site No: 527,
East of House Site No: 525
Measuring:
South-North : 50 ft on the eastern side
South-North : 50 ft on the western side
East-West : 30 ft on the northern side
East-West : 30 ft on the southern side
The said extent of 1500 sq ft/139.4 sq m of vacant house site land with all rights as mentioned in the registered sale deed dated 15.04.2011 in Doc No; 2372/2011 of SRO, Avalpoondurai etc..
The Property is in the name of Mrs. Malar W/o Mr Balasubramani
The reserve price will be Rs. 997500/- and the earnest money deposit will be Rs. 99750/-
Property 5
Namakkal RD, Komarapalayam SRD, Tiruchengode Taluk, Elanthakuttai Village and Panchayat, R S F No: 194/2, House site No: 35, an extent of 2100 sq ft of vacant house site land within the following boundaries
North of Land belongs to Pongianna Gounder
South of 30 ft width East-West road,
West of House Site No: 36 belongs to Muthayammal
East of House site No: 34 belongs to Rangasamy
Measuring
South-North : 105 ft on the eastern side
South-North : 105 ft on the western side
East-West : 20 ft on the northern side
East-West : 20 ft on the southern side
The said extent of 2100 sq ft of land with all rights as mentioned in the registered sale deed dated 04.03.1999 in Doc No: 713/1999 of SRO Komarapalayam etc..
The Property is in the names of Mrs. S Vadamani W/o Seerangan, Mr Tamilselvan S/o Seerangan, Mr Prakash S/o Seerangan, Mrs Mariammal M/o Seerangan
The reserve price will be Rs. 997500/- and the earnest money deposit will be Rs. 99750/-
*Outstanding dues Rs.---- of Local Self Government (Property Tax, Water sewerage, Electricity Bills etc) * Bank’s dues have priority over the statutory dues
Date and time of e-auction: 21.10.2020 (date) between 11.00 A.M. to 1.00 P.M. (time) with auto extension of 5 minutes each till sale is completed at the platform of https://www.mstcecommerce.com/auctionhome/ ibapi.
For detailed terms and conditions of the sale, please refer to the service providers link https://www.mstcecommerce.com/auctionhome/ ibapi or bank’s website https://www.iob.in
Place: Erode Authorised Officer Date: 18.09.2020
This may also be treated as a Notice under Rule 8(6)/Rule 9(1) of Security Interest (Enforcement) Rules, 2002 to the borrower/s and guarantor/s of the said loan about holding of e-auction on the above mentioned date.
Terms and Conditions
1. The property(ies) will be sold by e-auction through the service provider https://www.mstcecommerce.com/auctionhome/ibapi under the supervision of the Authorized Officer of the Bank.
2. The intending Bidders /Purchasers are requested to register on portal https://www.mstcecommerce.com/auctionhome/ibapi using their mobile number and email-id. Further, they are requested to upload requisite KYC documents. Once the KYC documents are verified by e-auction service provider (may take 2 working days), the intending Bidders /Purchasers has to transfer the EMD amount using online mode in his Global EMD Wallet account by 20.10.2020 up to 4.00 PM. Intending bidders shall have a valid email address and should register their name / account by login to the website of the aforesaid service provider.
3. Earnest Money Deposit (EMD) amount as mentioned above shall be paid online through NEFT/RTGS mode (After generation of Challan from https://www.mstcecommerce.com/auctionhome/ibapi which will provide account details) in bidders Global EMD Wallet account. Bidders, not depositing the required EMD online, will not be allowed to participate in the e-auction. Bids without EMD shall be rejected summarily. The Earnest Money Deposited shall not bear any interest. The amount of EMD paid by the successful bidder shall be adjusted towards the sale price.
4. The intending participants of e-auction may download copies of the Sale Notice, Terms & Conditions of e-auction, Help Manual on operational part of e- auction related to this e-auction from e-Bक्रय – IBAPI portal (https://www.ibapi.in).
5. The submission of online application for bid with EMD shall start from 19.09.2020
6. Bidder’s Global Wallet should have sufficient balance (>=EMD amount) at the time of bidding.
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. During the e-auction bidders will be allowed to offer higher bid in inter-se bidding over and above the last bid quoted and the minimum increase in the bid amount must be of Rs 10000/- to the last higher bid of the bidders. Five minutes time will be allowed to bidders to quote successive higher bid and if no higher bid is offered by any bidder after the expiry of Five minutes to the last highest bid, the e-auction shall be closed.
9. 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 (less EMD amount) immediately on the same day and not later than the next working day in favour of “Indian Overseas Bank, Thirunagar Colony Branch” to the credit of A/C No134502000002833 Indian Overseas Bank, Thirunagar Colony Branch, 52-A, Meenakshisundaram street,Erode-638003 Phone no.0424- 2223199, 2225399. Branch Code: 1345 IFSC Code : IOBA0001345.
10. The balance amount of sale price shall be paid within 15 days from the date of confirmation of auction sale. 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.
11. The sale certificate will be issued in the name of the successful bidder (purchaser) only, after payment of the entire sale price amount and other taxes/charges, if any.
12. The purchaser shall bear the charges/ fee payable for conveyance such as registration fee, stamp duty, etc., as applicable as per law.
13. 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. 14. The property is being sold on “As is where is”, “As is what is” and “Whatever there 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.
15. 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.
16. Sale is subject to confirmation by the secured creditor Bank.
17. The e-auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation by the bank. The Authorised Officer/Secured Creditor shall not be responsible in any way for any third party claims / rights / dues.
18. *In compliance with Section 194 IA of the Income Tax Act, 1961 income tax @ 0.75 % on the Reserve Price shall be deducted and paid under the PAN of the Purchaser. Since the Tax has been calculated only on the Reserve Price, the bidder shall bear the 0.75 % income tax on the bid multiplier amount and the bank shall not take any responsibility for the same.
*In case of any sale/transfer of immovable property of Rupees Fifty lakhs and above, the transferee has to pay an amount equal to 0.75 % of the consideration as Income Tax.
As per the press release issued by Central Board of Direct Taxes dated 13.05.2020, the rates of Tax Deduction at Source (TDS) for the non-salaried specified payments made to residents has been reduced by 25% for the period from 14.05.2020 to 31.03.2021. Hence, the Income Tax on the bid amount shall be 0.75% during the period from 14.05.2020 to 31.03.2021.
19. For verification about the title documents and inspection thereof, the intending bidders may contact Indian Overseas Bank, Thirunagar Colony Branch, 52-A, Meenakshisundaram street,Erode-638003 Phone no.0424-2223199, 2225399 during office hours till 20.10.2020 up to 4.00 PM .
20. The intending bidders are advised to read the sale notice, terms and conditions of e-auction, help manual on operational part of e-auction and follow them strictly. In case of any difficulty or assistant is required before or during e-auction process, the bidder may contact authroised representative of e-auction service provider (https://www.mstcecommerce.com/ auctionhome.ibapi), details of which are available on the e-Auction portal. 21. Once the e-Auction is closed, successful bidder shall be informed by the above referred service provider through SMS/e-mail in the mobile number/e- mail registered with the service provider. However, the sale is subject to confirmation by the secured creditor.
22. Platform (https://www.mstcecommerce.com/auctionhome/ibapi) for e- auction will be provided by service provider M/S MSTC Limited having Registered office at 225-C, A.J.C. Bose Road, Kolkata-700020 (contact Phone & Toll free Numbers 033- 22901004, operation time of Help desk: 8:00 am to 8:00 pm). The intending Bidders /Purchasers are required to participate in the e- auction process at e-auction Service Provider’s website https://www.mstcecommerce.com/auctionhome/ibapi.
Place: Erode Authorised Officer Date: 18.09.2020