Branch, Door No-7-1-75, Ground Floor, Main Road, -530017, .

Phone: - 0891-2793544, E Mail: - [email protected] Date: 15.05.2019 E-AUCTION SALE NOTICE ------(Issued Under Provision to Rule 8(6) / Rule 9(1) of Security Interest (Enforcement) Rules)

E-Auction Sale Notice Of Immovable Assets Under The Securitization 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 Act, 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 mortgaged / charged to the secured creditor, the symbolic possession of which has been taken by the Authorized Officer of Indian Overseas Bank Secured Creditor, will be sold on ‘’ As is Where is’’, ‘’ As is what is’’ and ‘’Whatever there is’’ on 07.06.2019 for recovery of Rs.12,63,74,712/- on 30.04.2019 with further interests and costs due to the IOB Secured creditor from

1 M/S ISR INFRA PVT LTD, Borrower. Door No.50-96-4/7, Flat No-2B, Sai Ratneswar Residency, Seethamadhara, 530013. 2 IDUPULAPATI SRINIVASA RAO Director 1/Guarantor. S/O. Radha Krishna Murthy, Door No-53-16-1/2, Flat No-501, Happy Homes, KRM Colony, Visakhapatnam-530013. 3 IDUPULAPATI MADHAVI Director 2/Guarantor. W/O. Idupulapati Srinivasa Rao, Door No-53-16-1/2, Flat No-501, Happy Homes, KRM Colony, Visakhapatnam- 530013.

The Reserve price will be: Property No-1 : 5,07,50,000/- ; Property No-2 : 5,36,72,000/- Property No-3 : 4,90,74,000/- ; Property No-4 : 6,18,34,000/- . Earnest Money Deposit will be: Property No-1 : Rs.50,75,000/- ; Property No-2 : Rs.53,67,200/- ; Property No-3 :Rs.49,07,400/- ; Property No-4 : Rs.61,83,400/-

Description of the Properties Sl No Property Owned by Particulars of Security

1 M/S. Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD Sri. deposit of title deeds relating to industrial cum Residential land, Idupulapati Srinivasa Rao. building & sheds under GVMC limit in the extent of 2844 sq yds along with 3825 S.Ft ACC shed covered by S.No-159/1, 1152/2 & 3 at D NO. 5-53, S. No.159/1, 115/2 & 3 patta no. 228, 288, 233, 197, 49, 230, 235, 37, 27, 52, & 13, Marikavalasa, paradesipalem village, sub-registry, Visakhapatnam, standing in the name of M/S.Isr Infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundaries of the Property:- North:- Rasta (land in S.NO.117) South:- Land Belongs to Hyderabad Bhaskar Rao. East:- 40 feet wide Road. West:- site belongs to sri. syed Mansur. 2 M/S. Isr Infra Projects (p) Equitable Mortgage followed by Registration of memorandum of LTD, Rep by its MD. Sri deposit of title deeds relating to industrial cum Residential vacant Idupulapati Srinivasa Rao. land under GVMC limit in the extent of 3059 sq yds covered by at D.No.5-53, S.No. 159/1, 115/2 & 3, patta No. 228, 288, 233,197, 49,230, 235, 37, 27, 52, & 13, Marikavalasa, paradesipalem village , madhurawada sub-registry, Visakhapatnam, standing in the name of M/S. Isr infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundary of the property:- North:-Rasta (Land in SNo.-117). South:-Land Belongs to Hyderabad Bhaskar Rao. East:- Site belongs to smt. Asifa Begam. West:- Gedda 3 M/S. Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD. Sri. deposit of title deeds relating to vacant land in the extent of Idupulapati Srinivasa Rao. 6146.8 sq yds covered by sy no.141/3A, ward No-8,southern Road to near D.No.8-110 of kothavalasa panchayat, kothavalasa sub-registry, Vizianagaram District,standing in the name of M/S Isr infra projects pvt ltd Rep by its MD. I Srinivasa Rao. Boundary of the property:- North:- Kothavalasa to Vizianagaram Road leads from Gidijala. South:-Land belongs to Sri Gorapalli family. East:-Veerasagaram Gedda. West:-Dry Land in S.No.141/2A.

4 M/S.Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD. deposit of title deeds relating to vacant land in the extent of 7744 Idupulapati Srinivasa Rao. sq yds covered by sy no.141/1A of kothavalasa, word no-8, Dadas up to ZP High School near D.No.8-110, Kothavaasa panchayat, kothavalasa sub-registry, Vizianagaram District, standing in the name of M/S. ISR Infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundary of the Property:- North:- Kothavalasa to Vizianagaram road leads from Gidijala. South:- Dry Land of Gorapalli Family. East:- Dry Land in SNO.141/2A. West: - Kothavalasa to Vizianagaram Road.

Place: Visakhapatnam Authorized Officer Date: 15.05.2019 Indian Overseas Bank.

Kirlampudi Layout Branch, Door No-7-1-75, Ground Floor, Chinna Waltair Main Road, Visakhapatnam-530017, Andhra Pradesh.

Phone: - 0891-2793544, E Mail:- [email protected]

Date: 15.05.2019 ANNEXURE II E – AUCTION SALE NOTICE

SALE OF IMMOVABLE PROPERTY MORTGAGED TO THE BANK UNDER THE SECURITISATION AND RECONSTRU8CTION OF FINANCIAL ASSETS AND ENFORCMENT OF SECURITY INTEREST ACT, 2002

Whereas M/s ISR Infra Pvt Ltd, Rep by its directors has borrowed monies from Indian Overseas Bank against the mortgage of the immovable properties more fully described in the schedule here under and the Bank has issued a demand notice under section 13(2) of the SARFAESI Act, 2002 on 07.08.2017 calling upon the borrower, Guarantors , Directors and Mortgagers,

1 M/S ISR INFRA PVT LTD, Borrower / Mortgagor Door No.50-96-4/7, Flat No-2B, Sai Ratneswar Residency, Seethamadhara, 530013. 2 IDUPULAPATI SRINIVASA RAO Director 1/Guarantor. S/O. Radha Krishna Murthy, Door No-53-16-1/2, Flat No-501, Happy Homes, KRM Colony, Visakhapatnam-530013. 3 IDUPULAPATI MADHAVI Director 2/Guarantor. W/O. Idupulapati Srinivasa Rao, Door No-53-16-1/2, Flat No-501, Happy Homes, KRM Colony, Visakhapatnam- 530013. to pay the amount due to the bank, being Rs. 10,65,61,722.64/- (Rupees Ten crores sixty five lakhs sixty one thousands seven hundred twenty two and paisa sixty four only) as on date of 31.07.2017 together with further interest, costs and expenses with 60 days from the date of receipt the said notice.

Whereas the borrowers and the Guarantors and directors having failed to pay the amount due to the Bank as called for in the said demand notice, the Bank has issued possession notice on 23.10.2017 to the secured asset more fully described in the schedule here under section 13(4) of the Act read with Rules 8 & 9 of the Security interest (Enforcement) Rules, 2002 for realization of Bank’s dues. The dues to the bank as on the date of taking possession was intimated as Rs.10, 99, 51,839/- (Rupees Ten Crore Ninty Nine Lakhs Fifty One Thousand Eight Hundred and thirty Nine only) payable together with further interest at contractual rates and rests along with costs, charges etc till date of repayment, after reckoning repayments, if any, since the date mentioned in the demand notice.

The dues of the borrower works out to Rs.12,63,74,712/- on 30.04.2019 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. Description of the Properties

Sl No Property Owned by Particulars of Security

1 M/S. Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD Sri. deposit of title deeds relating to industrial cum Residential land, Idupulapati Srinivasa Rao. building & sheds under GVMC limit in the extent of 2844 sq yds along with 3825 S.Ft ACC shed covered by S.No-159/1, 1152/2 & 3 at D NO. 5-53, S. No.159/1, 115/2 & 3 patta no. 228, 288, 233, 197, 49, 230, 235, 37, 27, 52, & 13, Marikavalasa, paradesipalem village, Madhurawada sub-registry, Visakhapatnam, standing in the name of M/S.Isr Infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundaries of the Property:- North:- Rasta (land in S.NO.117) South:- Land Belongs to Hyderabad Bhaskar Rao. East:- 40 feet wide Road. West:- site belongs to sri. syed Mansur. 2 M/S. Isr Infra Projects (p) Equitable Mortgage followed by Registration of memorandum of LTD, Rep by its MD. Sri deposit of title deeds relating to industrial cum Residential vacant Idupulapati Srinivasa Rao. land under GVMC limit in the extent of 3059 sq yds covered by at D.No.5-53, S.No. 159/1, 115/2 & 3, patta No. 228, 288, 233,197, 49,230, 235, 37, 27, 52, & 13, Marikavalasa, paradesipalem village , madhurawada sub-registry, Visakhapatnam, standing in the name of M/S. Isr infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundary of the property:- North:-Rasta (Land in SNo.-117). South:-Land Belongs to Hyderabad Bhaskar Rao. East:- Site belongs to smt. Asifa Begam. West:- Gedda 3 M/S. Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD. Sri. deposit of title deeds relating to vacant land in the extent of Idupulapati Srinivasa Rao. 6146.8 sq yds covered by sy no.141/3A, ward No-8,southern Road to Gidijala near D.No.8-110 of kothavalasa panchayat, kothavalasa sub-registry, Vizianagaram District,standing in the name of M/S Isr infra projects pvt ltd Rep by its MD. I Srinivasa Rao. Boundary of the property:- North:- Kothavalasa to Vizianagaram Road leads from Gidijala. South:-Land belongs to Sri Gorapalli family. East:-Veerasagaram Gedda. West:-Dry Land in S.No.141/2A.

4 M/S.Isr Infra Projects (p) Equitable mortgage followed by Registration of memorandum of LTD, Rep by its MD. deposit of title deeds relating to vacant land in the extent of 7744 Idupulapati Srinivasa Rao. sq yds covered by sy no.141/1A of kothavalasa, word no-8, Dadas up to ZP High School near D.No.8-110, Kothavaasa panchayat, kothavalasa sub-registry, Vizianagaram District, standing in the name of M/S. ISR Infra projects pvt ltd rep by its MD. I Srinivasa Rao. Boundary of the Property:- North:- Kothavalasa to Vizianagaram road leads from Gidijala. South:- Dry Land of Gorapalli Family. East:- Dry Land in SNO.141/2A. West: - Kothavalasa to Vizianagaram Road.

Date and time of E auction Property No-1 : On 07.06.2019 Between 01.00 P.M to 03.00 P.M Property No-2 : On 07.06.2019 Between 01.00 P.M to 03.00 P.M Property No-3 : On 07.06.2019 Between 01.00 P.M to 03.00 P.M Property No-4 : On 07.06.2019 Between 01.00 P.M to 03.00 P.M

( with auto extension of 5 minutes each till sale is completed in all the 4 cases) Reserve Price Property No-1 : 5,07,50,000/- Property No-2 : 5,36,72,000/- Property No-3 : 4,90,74,000/- Property No-4 : 6,18,34,000/- Earnest Money Deposit Property No-1 : Rs.50,75,000/- Property No-2 : Rs.53,67,200/- Property No-3 :Rs.49,07,400/- Property No-4 : Rs.61,83,400/- EMD remittance Deposit through EFT/NEFT/RTGS transfer in favour of Authorized Officer SARFAESI E –Auction A/c M/s ISR Infra Pvt Ltdto the credit of Current Account no. 238502000000151, IFSC code IOBA0002385, Branch address: Indian Overseas Bank, Kirlampudi Layout Branch, Door No-7-1-75, Ground Floor, Chinna Waltair Main Road, Visakhapatnam-530017, Andhra Pradesh.

Bid Multiplier Rs. 1,00,000/- Inspection of Property 01.06.2019 onwards from 10 AM to 2 PM Submission of online 22.05.2019 10 AM onwards application for bid with EMD Last date for submission of 05.06.2019 online application for BID with EMD Terms and conditions 1. The property will be sold by e-auction through the Bank’s approved service provider M/s. e-Procurement Technologies Limited, Ahmadabad (Auction Tiger) under the supervision of the Authorized officer of the Bank.

2. E-auction tender document containing online e-auction bid form, declaration, general terms and conditions of online auction sale are available in https://iob.auctiontiger.net

3. Intending bidders shall hold a valid digital signature certificate and e-mail 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 Mr Ramesh S., Contact Number: +91 9898745874, Help Line Numbers: 079 4023 0825 / 826 / 827 / 800 / 816 to 824, e-Mail ID: [email protected] and [email protected] Or Mr. Ravikumar Chukka (Vizag), Contact Number: +91 8008617666

4. Bids in the prescribed formats given in the Tender Document shall be submitted “online” through the portal https://iob.auctiontiger.net along with the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorized Officer before 4.00P.M hours on 13.04.2018 . Bids submitted otherwise shall not be eligible for consideration.

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. Bid form without EMD shall be rejected summarily.

7. Online auction sale will start automatically on and at the time as mentioned above. Auction / bidding will initially be for a period of 60 Minutes with auto extension time of 5 minutes each till the sale is concluded.

8. The property shall be sold to the successful bidder. The successful bidder (purchaser) as declared by the Authorized Officer shall deposit 25% of the sale price (inclusive of the EMD) immediately on the same day and not later than the next working day. 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. 9. The sale certificate will be issued in the name of the purchaser only, after payment of the entire sale price amount and other taxes/charges, if any. 10. The purchaser shall bear the charges/ fee payable for conveyance such as registration fee, stamp duty, etc., as applicable as per law. 11. 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. 12. The property is being sold on ‘as is where is’ and ‘as is what 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. 13. 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. 14. Sale is subject to confirmation by the secured creditor. 15. EMD of unsuccessful bidders will be returned through EFT / NEFT / RTGS to the bank account details provided by them in the bid form and intimated via their e-mail id. 16. 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. 17. Demo e-auction process will be conducted by ABC Procure for familiarization and allocation of user name / password to eligible prospective bidders for access to the e- auction at the specified date and time.

18. In compliance with Section 194 IA of the Income tax Act, 1961 income tax @ 1% on the Reserve Price shall be deducted and paid under the PAN Number of the Purchaser. Since the Tax has been calculated only on the Reserve Price, the bidder shall bear the 1% 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 1% of the consideration as Income Tax.

For further details regarding inspection of property / e-auction, the intending bidders may contact Branch Manager, Kirlampudilayout branch, Contact No- 9775460052 or the Chief Manager, Indian Overseas Bank, Regional office, during office hours Phone No. 0891 – 2553118, or contact service provider through E-mail ID: [email protected] and [email protected], Contact No.: 079 4023 0825 / 826 / 827 / 800 /816 to 824, Mobile: 09898745874 Or Mr. Ravikumar Chukka (Vizag), Contact Number: +91 8008617666.

Place : Visakhapatnam Date : 15.05.2019 AUTHORISED OFFICER.

ANNEXURE III

INDIAN OVERSEAS BANK

CENTRAL OFFICE

763, ANNA SALAI

CHENNAI 600 002

General Terms and Conditions of Online Auction Sale

1. Nature and Object of Online Sale:

The online e-auction sale is with the avowed object of Free and Fair Sale, Transparency and for achieving best-possible recovery of public money. The sale is governed by the Provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Security Interest (Enforcement) Rules, 2002 and the following specific terms and conditions.

2. Caution to bidders:

Property is sold on as is and where is/on what it is/no complaint basis. Bidders are advised/cautioned to verify the concerned SRO as well as the Revenue Records and shall satisfy themselves regarding the nature, description, condition, encumbrance, lien, charge, statutory dues, etc. over the property before submitting their bids. Bidders are advised to go through all the terms and conditions of sale given in the tender document and also in the corresponding public sale notice in the dailies before submitting the bid and participating in the online bidding/auction. Statutory dues/liabilities etc., due to the Government/Local Body, if any, shown in the sale notice/tender document shall be borne by the purchaser(s).

3. Inspection of Property:

Property can be inspected on the date(s) given in the public sale notice/tender document Bidders shall inspect the property and satisfy themselves regarding the physical nature, condition, extend, etc. of the property. Complaints, if any, in the matter of inspection shall immediately be brought to the notice of the Authorised Officer.

4. Inspection op Title Deeds:

(a) Bidders may inspect and verify the title deeds and other documents relating to the property available with the Bank 5. Submission of bid forms:

(a) Bids in the prescribed format given in the tender document shall be submitted “online” through the portal of https://iob.auctiontiger.net (web address of the service provider) Bids submitted otherwise shall not be eligible for consideration and rejected. (b) Bids shall be submitted online before the last date and time given in the sale notice/tender document. (c) Bids form shall be duly filled in with all the relevant details.

(d) Incomplete/unsigned bids without EMD remittance details will be summarily rejected. (e) Only copy of PAN Card, Passport, Voter’s ID, Valid Driving License or Photo Identity Card issued by Govt. and PSU will be accepted as the identity document and should be submitted along with the bid form. (f) Original Identity Document copy of which is submitted along with the bid form must be produced on demand.

6. Earnest Money Deposit (EMD):

(a) The bid shall be accompanied by the EMD as specified in the public sale notice/tender document. (b) EMD and other deposits shall be remitted through EFT/NEFT/RTGS Transfer to the bank account as specified in the sale notice/Tender document. (c) Bidders not to disclose remittance details of EMD, UTR Code, etc. to any on and to safeguard its secrecy. (d) Bidders shall preserve the remittance challan and shall produce the same as and when demanded. (e) Bid form without EMD shall be summarily rejected. (f) All details regarding remittance of EMD shall be entered in the bid form. (g) EMD, either in part or in full, is liable for forfeiture in case of default.

7.Bid Multiplier:

(a) The bid-increment/multiplier shall be at Rs. 1,00,000/- (b) The bidders shall increase their bids in multiplies of the amount specified in the public sale notice.

8. Duration of Auction Sale:

(a) Online auction sale will start automatically on and at the time given in the public sale notice/Tender Document. (b) Auction/Bidding time will initially be for a period of one hour and in the bidding process will get automatically extended five minutes duration of each and kept open till the auction-sale concludes. (c) If any market-leading bid (bid higher than the highest at the point in time) is received within the last five minutes of closing time, the bidding time will be extended automatically by five minutes and if no bid higher than last quoted highest bid is received within the said extended five minutes, the auction sale will automatically get closed at the expiry of the extended five minute. There will thus be an extension of bidding-time, each of five minutes duration, till auction is concluded. (d) Bidders are advised to enter their bid accordingly keeping in mind the five minutes duration. (e) No complaint on time-factor or paucity of time for bidding will be entertained.

9. Online Bidding:

(a) Auction/bidding will be only online bidding through the portal provided by the service provider (b) Bidders are cautioned to be careful while entering their bid amount and to check for alteration, if any before confirming the same (c) No request/complaint of wrong bidding will be entertained for cancelling the sale and in such case, the EMD in full will be forfeited (d) Bidders may, subject to conditions of online service provider, may avail pre-auction training and/or for demo/mock auction-sale.

10. Declaration of successful bidder:

1. Highest bidder will be declared the successful bidder and sale will be confirmed in his favour. Intimation to this effect will be given through e-mail by service provider/Bank 2. All intimations to bidders/auction purchaser will be primarily through e-mail by the service provider/Bank. Date of sending e-mail will be considered as date of intimation. If no intimation reaches, bidders are expected to take efforts to find out status from the Bank. Non-receipt of intimation should not be an excuse for default/non-payment.

11. Deposit of purchase price:

(a) The bidder declared successful, shall pay, immediately after such declaration, a deposit of 25% (less EMD already paid) on the amount of his purchase money. (b) In case of the auction-sale proceeding and concluding beyond the banking transaction hours, the deposit of 25% of purchase price (less EMD already paid) shall be remitted before 3.00 p.m. of the next working day. (c) The balance amount of purchase money shall be paid on or before the fifteenth day from the date of the sale or within such period as may be extended, for the reason to be (d)recorded, by the Authorized Officer. 12. Default of Payment:

(a) Default of payment of 25% of bid amount (less EMD) on the same day and 75% of balance bid amount within the time stipulated as above shall render automatic cancellation of sale without any notice (b) The EMD and any other monies paid by the successful bidder shall be forfeited by the Authorized Officer of the Bank.

13. Sale Certificate/Payment of Stamp Duty: (a) On payment of the entire purchase price/bid amount, Sale Certificate will be issued by the Authorized Officer of the Bank only in the name/names of the bidders whose name/names are mentioned in the bid form. (b) No request for inclusion/substitution of names, other than those mentioned in the bid, in the sale certificate will be entertained. (c) Sale Confirmation/Sale Certificate shall be collected in person or through an authorized person. (d) The Stamp Duty, Registration Charges, etc., as per relevant laws for the sale certificate shall be borne by the successful bidder. (e) The Sale Certificate will not be issued pending operation of any stay/injunction/ restraint order passed by the DRT/DRAT/High Court or any other court against the issue of Sale Certificate. (f) The deposit made by the successful-bidder, pending execution of Sale Certificate, will be kept in non interest bearing deposit account. (g) No request for return of deposit either in part or full/cancellation of sale will be entertained.

14. Return of EMD:

(a) EMD of unsuccessful bidders will be returned through EFT/NEFT/RTGS transfer to the bank account details provided by them in the bid form and may be intimated via their e-mail id. (b) Unsuccessful bidders shall ensure return of their EMD and if not, immediately to contact the Authorized Officer of the Bank.

15. Stay/Cancellation of Sale: (a) In case of stay of further proceedings by DRT/DRAT/High Court or any other Court, the auction may either be deferred or cancelled and persons participating in the sale shall have no right to claim damages, compensation or cost for such postponement or cancellation (b) Default in payment of 25% of the purchase price or the balance purchase price within the stipulated/extended time will result in cancellation of sale.

16. Delivery of Title Deeds:

(a) The title deeds and other documents related to the property and deposited with the Bank for creation of Equitable Mortgage shall be delivered to the Successful bidder/Auction Purchaser, on execution of the Sale Certificate.

17. Delivery of possession: (a) All expenses and incidental charges thereto shall be borne by the auction purchaser.

18. Other Conditions:

(a) The Authorized Officer will be at liberty to amend/modify/delete any of the conditions as may be deemed necessary in the light of facts and circumstances of each case. (b) The Authorized Officer reserves the right to accept or reject all or any bid or bids without assigning any reason and to postpone or cancel the sale without assigning any reason. (c) Bidders shall be deemed to have read and understood all the conditions of sale and are bound by the same. No counter-offer/conditions by the bidder and/or successful-bidder will be entertained. Technical Terms and Conditions of Online Auction Sale

1. Prospective bidder shall have a valid Digital Signature Certificate (DSC) issued by any of the recognized agency and a valid e-mail id. 2. Prospective bidder has to register with the ‘online’ service provider.

3. Only upon verification of the bid form and confirmation of remittance of EMD, the User ID issued by the online service provider will be activated permitting the bidder to enter into the website of the service provider for bidding. 4. Bidders should not disclose their User ID as well as password and other material information relating to the bidding to any one and to safeguard its secrecy. 5. Bidders are advised to change the password immediately on receipt from the service provider.

6. Time Extension: If any market leading bid (bid higher than the highest at the point in time) is received within the last five minutes of closing time, the time of auction sale will get automatically extended by another five minutes and subsequently. If no further bid higher than the last quoted highest bid is received within the said extended five minutes, the auction sale will automatically closed at the expiry of the extended five minutes. 7. Training: The online service provider will provide training “online” if required by the bidders at a mutually convenient date and time before the auction. 8. Bids: All bids placed are to be treated as legally valid bids and are to be considered as bids from the bidder himself. Once the bid is placed, the bidder cannot reduce or withdraw the bid for whatever reason. If done so, the EMD amount shall be forfeited.

9. The highest and the latest bid on the auction shall supersede all the previous bids of the respective bidders. The bidder with the highest offer/bid does not get any right to demand acceptance of his bid. 10. The bidder shall be solely responsible for all consequences arising out of the bid submitted by him (including any wrongful bidding)and no complaint/representation will be entertained in this regard by the Bank. Hence bidders are cautioned to be careful to check the bid amount and alter/rectify their bid if required before confirming the bid submitted. 11. The intimation to the bidder/bidders concerned of having declared successful in the auction sale will primarily be sent to them through e-mail preferably. The date of sending the e-mail will be considered as date of intimation. 12. If no intimation reaches for reasons beyond the control of the Bank, the bidders are required to take efforts to ascertain the status. Non receipt of intimation shall not be a ground for non- payment or delayed payment. Bidders must therefore keep a watch on their incoming e-mail id registered by the bidder or for return of the mail for mailbox being full.

13. Demo/mock auction:

For bidders who have indicated non-familiarity with e-Auction, training on a DEMO/MOCK Auction will be arranged in a manner and on such date by the service provider as may be specified in the Scheduled Programme. Only those Bidders who have registered themselves for the Auction by submitting the “Declaration Form” and have also paid the EMD can participate in this Mock Auction. No training will be given during the actual e-Auction.

14. Note of caution for the Bidders:

Bidders may encounter certain unforeseen problems such as time lag, heavy traffic, system/power failure at the Bidders end. To avoid losing out on bidding because of above- mentioned reasons, it is advised not to wait for the last moment.

Authorized Officer