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Page 1 of 3 RECOVERY DEPARTMENT Plot No. 60 RECOVERY DEPARTMENT Plot No. 60, Gurunanak Nagar, Kanakadurga Gazetted Officers Colony, Opp: Silver Spoon Restaurant, Vijayawada-520 008, Ph: 0866-2544200 ------------------------------------------------------------------------------------------------------------------------------- E-AUCTION & PUBLIC/NORMAL AUCTION CUM SALE NOTICE SALE CUM AUCTION NOTICE OF IMMOVABLE PROPERTY THROUGH E-AUCTION & PUBLIC AUCTION UNDER RULES 9 OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002 AND UNDER SECTION 13(4) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002. Notice is hereby given to the public in general and particular to the borrowers and Guarantors 1. M/s. SRI GANGADHARA STEELS Ltd., 24-2-31, VUDA Colony, Vinayak Nagar, Gajuvaka, Visakhapatnam-530 026 Also at Plot no 73, Phase II, IDA, Parvada, Vishakapatnam 531021 Also at 87, Nagarjuna Raod, No.3, Gagan Mahal Colony, Hyderabad- 500 029 Also at Regd Off: Flat No 4C, 4th floor, Muralidhar Raos Doyen Villa, Plot No. 118, Srinagar Colony, Hyderabad- 500 073, 2. Sri. S. VENKANNA Plot No.HIG-119, D.No.24-6-1 Vuda Colony, Pedagantyada, Gajuwaka- 530 026, 3. Sri. S. RAMAKRISHNA, Plot No.HIG- 118, D.No.24-6-1 VUDA Colony, Pedagantyada, Gajuwaka- 530 026, 4. Mrs. S RANGANAYAKI, Plot No.HIG-119, D.No.24-6-1 VUDA Colony, Pedagantyada, Gajuwaka- 530 026, 5. Mrs. S. VIJAYALAKSHMI, Plot No.HIG-119, D.No.24-6-1 VUDA Colony, Pedagantyada, Gajuwaka- 530 026, 6. Smt. S. BHARATAMMA, Plot No.HIG-119, D.No.24-6-1 VUDA Colony, Pedagantyada, Gajuwaka- 530 026, 7. M/s. SREE RAMAKRISHNA ALLOYS Ltd., Regd Off : Flat No 4C, 4th floor,Muralidhar Raos Doyen Villa, Plot No. 118, Srinagar colony, Hyderabad- 500 073 Also at Factory: S. No 75 & 76, Bonangi, IDA, Parvada, Visakhapatnam- 531 021, Rep by Sri. S. Venkanna & Sri. S. Ramakrishna, that the below described immovable properties mortgaged /charged to Gajuwaka branch, the Authorized Officer of the Lakshmi Vilas Bank Limited, issued a Demand Notice dated 03-10-2018 under Section 13(2) of the Act calling upon the borrower and guarantor to pay the amount due to the secured creditor within 60 days. As they did not pay the amount even after expiry of time for payment, on 28-01-2020 the undersigned had taken Possession of the immovable property mentioned hereunder and the bank will be sold on “As is Where is”, “As is what is” and “Whatever there is” on 20-03-2020 between 01.00 PM to 2:00 PM. With regard to e-auction and 21-03-2020 between 04:00 PM to 05:00 PM with regard to public/normal auction for recovery of Rs. 124,22,40,400.50 (Rupees One Twenty Four Crores Twenty Two Lakhs Forty Thousand Four Hundred and Fifty paisa only) with interest from 01-09-2018 and cost, other charges etc. The details of the public auction and conditions are furnished hereunder: Page 1 of 3 Name & Address of the Secured The Lakshmi Vilas Bank Limited, Gajuwaka Branch, D.No: 17-40- Creditor (Bank) Branch Address & 6, Main Road, Gajuwaka, Visakhapatnam – 530 026, Ph:0891- place of Auction: 2517565. Rs. 124,22,40,400.50 with interest from 01-09-2018 & cost, Secured Debt other charges etc., Description of immovable secured assets, to be sold Factory Land, Buildings, Sheds, Ingots and rebars factory and structures there on with plant & Machinery in an extent of 4.53 Acres situated in S.No.150, 151 & 152 part, Plot No.73, E.P. Bonangi Village, SRO Sabbavaram, Parawada Mandal, Visakhapatnam standing in the name of M/S Sri Gangadhara Steels Ltd and the boundaries as per document no. 5605/2004. East: Plot No.70 North: 60.00 Mts Power corridor & 24.00 Mts Wide proposed Road West: 15.00 Mts wide power corridor and 150’ wide (R & B) Road South: Plot No.74 Last date for submission EMD 19-03-2020 upto 5:00 P.M. with regard to e-auction and 20-03- amount 2020 upto 5:00 P.M with regard to normal auction. Date & time of Auction 20-03-2020 between 01.00 PM to 2:00 PM. With regard to e- auction and 21-03-2020 between 04:00 PM to 05:00 PM with regard to Public/Normal auction. Upset Price/ Reserve Price of Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) Land & Building Earnest money to be Rs. 1,50,00,000/- (Rupees One Core Fifty lakhs only) deposited by the bidder TERMS AND CONDITIONS OF AUCTION 1. Earnest money deposit EMD (10% of Reserve Price) shall be deposited through RTGS/NEFT/DD fund transfer to credit of Account number- 0279699000000031, The Lakshmi Vilas Bank Limited Gajuwaka Branch, (I.F.S.C. Code – LAVB0000279). 2. The intended bidders who have deposited the E.M.D. and require assistance in creating Login Id and Password, uploading data, submitting bid, training on e-bidding process etc., may contact M/s. e- procurement Technologies Limited, A-801. Near Gujarat College, Ellis Bridege, Ahmedabad-380006, Gujarat, property auctioned at following web portal https://lvb.auctiontiger.net, Email- [email protected], [email protected], Contact: 8008617666 (Ravi Kumar), Visakhapatnam, 9979543878 (Parthiv Trivedi) Ahmedabad. 3. The bid price to be submitted shall be above the Reserve Price and bidders shall improve their further offers in incremental value of Rs. 20, 000/- for the said property. 4. The successful bidder shall have to pay 25% of the amount of purchase amount (including earnest money ) already paid, immediately on closure of the Auction sale Proceedings on the same day of sale. The balance 75% of the purchase price shall have to be paid within 15 days of acceptance/ confirmation of sale conveyed to them. In case if the said 75% is not paid within 15 days the earlier paid 25% also will be forfeited by them. Page 2 of 3 5. The EMD of unsuccessful bidder will be returned on the closure of auction sale proceedings. 6. The sale is subject to confirmation by the Bank, if the borrower/guarantor pays the bank in full before the sale, no sale will be conducted. 7. The property is sold “As is Where is”, “As is what is” and “Whatever there is” condition and the intending bidder should make discreet enquiries as regards on the property of any authority besides the banks charges and should satisfy themselves about the title, extent, and quality of the property before submitting their bid. No claim of whatsoever nature, regarding the property put for sale, charges encumbrance over the property on any other matter etc., will be entertained after submission of the bids. 8. The undersigned has the absolute right and discretion to accept or reject any bid or adjourn/postpone/cancel the sale/modify any terms and conditions of the sale without any prior notice and assigning any reasons. 9. The purchaser shall bear the stamp duties, charges including those of sale certificate registration charges, all statutory dues payable to Government, taxes and rates and outgoing both existing and future relating to the property. The sale certificate will be issued only in the name of successful bidder. The successful bidder will be payable 1% of TDS on the sale amount separately under section194-1A of income tax Act 1961 only at the time of deposit of remaining 75% of the bid amount. 10. The intending bidders may inspect the property between 10 A.M and 5 P.M. on all working days after prior appointment with BRANCH MANAGER and any further information about the auction sale of the property can be ascertained from the Branch Manager, The Lakshmi Vilas Bank Limited, Gajuwaka Branch, D.No: 17-40-6, Main Road, Gajuwaka, Visakhapatnam – 530 026, Ph:0891-2517565, 9949608181. 11. The sale is subject to conditions prescribed in the SARFAESI ACT/RULES 2002 and the conditions mentioned above. 12. The Authorized Officer reserves the right to cancel or postpone the sale without assigning any reasons. 13. The notice is also to the borrower(s), Guarantor(s) in particular and the public in general. Date: 14-02-2020 Place: Vijayawada Authorized Officer The Lakshmi Vilas Bank Limited Page 3 of 3 .
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