INDIAN OVERSEAS BANK BRANCH Nishmitha Towers, Near Bus Stand, Moodbidri, , Dakshina -574227 Phone No.: 08258-236179, e- mail: [email protected]

e- AUCTION SALE NOTICE

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

Whereas M/s. Pattadi Sanitary (Represented by Partners: Mr. Pattadi Bavu Ibrahim and Mrs. Fathima) has 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 11.09.2018 calling upon the borrowers M/S. PATTADI SANITARY [PARTNERS: MR. PATTADI BAVU IBRAHIM AND MRS. FATHIMA] , “City Light Commercial Complex”, Opposite Govt. Hospital, Moodabidri- 574227. MR. PATTADI BAVU IBRAHIM, S/o Bavu Ibrahim, Pattadi House, Afeeza Compound, Hosangady, Perinje Post, Taluk, Moodabidri- 574227. MRS. FATHIMA , W/o Pattadi Bavu Ibrahim, Pattadi House, Afeeza Compound, Hosangady, Perinje Post, Belthangady Taluk, Moodabidri- 574227 and the guarantors MR.PATTADI BAVU ABDUL LATHEEF, S/o Bavu Beary, Pattadi House, Afeeza Compound, Hosangady, Perinje Post, Belthangady Taluk, Moodabidri- 574227 to pay the amount due to the Bank, being Rs.3,77,76,343.32 (Rupees Three Crores Seventy Seven Lakhs Seventy Six Thousand Three Hundred Forty Three and Paise Thirty Two Only) as on 11.09.2018 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 borrowers & guarantors 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 03.04.2019 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 to the bank as on the date of taking possession was intimated as Rs.4,07,28,839.02 (Rupees Four Crores Seven Lakhs Twenty- Eight Thousand Eight Hundred Thirty- Nine and Paise Two Only) as on 03.04.2019 payable together with further interest at contractual rates and rests alongwith 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 as on 02.08.2019 works out to Rs. 4,29,99,590.02 (Rupees Four Crore Twenty- Nine Lakhs Ninety- Nine Thousand Five Hundred and Ninety and Two Paise Only) after reckoning repayments, if any, amounting to Rs. 2,85,400/- 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 PROPERTY(IES) Property Particulars of securities No. 1 All that part and parcel of Shop premises bearing D.No.4-240[4] in the ground floor of the commercial complex [ “City Light commercial complex”] Situated at S.No.87/13A [5Cents] , S.No.87/13B[14.75cents] of Pranthya Village & S.No.151/2AP1[10.25cents] of Marpady Village , , together with 0.47% undivided interest in the said land and interest in common areas , amenities & facilities. The property is in the ownership of Mr. P B Ibrahim. [Built up area : 200 Sq.ft] Boundaries: Part of shopping complex with road access on 2 sides (East and South) and on the other 2 sides with part of survey number.

All that part and parcel of 4 no of Shop premises bearing D.No.4-240 [41,42,43 & 44] of the commercial complex [ “City Light commercial complex”] Situated at S.No.87/13A [5Cents] , S.No.87/13B[14.75cents] of Pranthya Village & S.No.151/2AP1[10.25cents] of Marpad y Village , Mangalore Taluk , together with 0.43% each [ total 1.72% ] undivided interest in the said land and interest in common areas , amenities & facilities, [Built up area : 185 Sq.ft each]. The property is in the ownership of Mr. P B Ibrahim. Boundaries: Part of shopping complex with road access on 2 sides (East and South) and on the other 2 sides with part of survey number.

All that part and parcel of 4 no of Shop premises bearing D.No.4-240 [ 27,31,32 & 53] of the commercial complex [ “City Light commercial complex”] Situated at S.No.87/13A [5Cents] , S.No.87/13B[14.75cents] of Pranthya Village & S.No.151/2AP1[10.25cents] of Marpady Village , Mangalore Taluk , together with (a)0.43% each undivided interest [ D.No.4-240[27&31] & (b) 0.30% each undivided interest [ D.No.4-240[32&53] in the said land and interest in common areas , amenities & facilities [Built up area: 185 Sq.ft each for D.No.4-240[27 & 31] and 131Sq.ft each for D.No.4-240[32&53 ]] The property is in the ownership of Mr. P B Ibrahim. Boundaries: Part of shopping complex with road access on 2 sides (East and South) and on the other 2 sides with part of survey number. 2 All that part and parcel of NA land at S.No.7/4P2 [Part] in Badaga Village, Mangalore Taluk, District to an extent of 3.50 Cents in the ownership of Mr. P B Ibrahim Boundaries: East & South: Remaining portion of same S.D. West: Road in remaining portion of same S.D. North: Survey Line

All that part and parcel of NA land at S.No.7/11P1[Part] in Badaga Mijar Village, Mangalore Taluk, Dakshina Kannada District to an extent of 1.50 Cents] in the ownership of Mr. P B Ibrahim Boundaries: East: Remaining portion of same S.D. South: Survey Line West: Road in remaining portion of same S.D. North: Road in remaining portion of same S.D. 3 All that part and parcel of plot [NA/ Converted] at S No.176 SD No. 4 in Marpady Village, Mangalore Taluk, Dakshina Kannada District [Extent: 17.50 Cents]. The property is in the ownership of Mrs. B Fathima. Boundaries: North: Survey Line South: Road and Sub Division Line East: Road and Sub Division Line West: Remaining portion of the same sub division. 4 All that part and parcel of land [NA/ Converted] at S.No.177/10P2 to an extent of 9 cents in Kallabettu Village, Mangalore Taluk, Dakshina Kannada District in the ownership of Mr. P B Ibrahim. Boundaries: East, South & West: S.D. Line North: Survey Line

Vacant plot [NA/ Converted] at S No. 177/11P1 to an extent of 16 cents in Kallabettu Village, Mangalore Taluk, Dakshina Kannada District in the ownership of Mr. P B Ibrahim. Boundaries: East, North & West: S.D. Line South: Survey Line 5 All that part and parcel of land [NA/ Converted] to an extent of 10.00 cents at S. No.125-2P7 in Pranthya Village, Mangalore Taluk, Dakshina Kannada District in the ownership of Mr. P B Ibrahim. Boundaries: North: Road South: Survey Line East: Portion of same SD, Site No. 7 West: Portion of same SD, Site No. 1 6 All that part and parcel of Shop Premises measuring 226 Sq.ft in Moodibidri Town Municipal and bearing D.No.5- 51(6) in the Ground floor of the commercial complex [“Lobo Arcade”] in S.No.122/1BP56 measuring 10 cents of Marpady Village, Mangalore Taluk, together with 1.5% undivided interest in the said land and interest in common areas, amenities and facilities in the ownership of Mr. P B Ibrahim. Boundaries: East: Aramane Lane South & West: Remaining portion of same S.D. North: Road 7 All that part and parcel of 5 Cents of land [Non-Agri/Converted] & with a house (D. No. 3/34/5 & D. No. 3/34/3) in S.No.252/1BP3, Hosangady Village, Hosangady Panchayat, Belthangady Taluk, Dakshina Kannada District. The property is in the ownership of Mr. P B Abdul Latheef. Boundaries: North and West: S No. 252/1B3 South: S No. 252/1BP1 East: S No. 252/2 8 All that part and parcel of two shop rooms No. 8 and 8A of Moodabidri town municipality measuring 371 Sq.ft. each situated in the Stilt/ground floor of the residential apartment “Samruddhi Apartment” together with 0.86 % plus 0.86 % undivided right in the S. No. 58/10P1– Non agricultural of Pranthya village, Mangalore Taluk along with common rights, amenities and facilities. Owner: Pattadi Sanitary Boundaries: North: Remaining portion of same S.D. East: Survey Line South: Remaining portion of same S.D. West: Remaining portion of same S.D.

All that part and parcel of four shop rooms No. 8, 8A, 9 & 10 of Moodabidri town municipality measuring total 1466 Sq.ft. situated in the First floor of the residential apartment “Samruddhi Apartment” together with 1.72 % (for shop 8 & 8A) plus 1.68 % (for shop 9 & 10) undivided right in the S. No. 58/10P1(P) –Non agricultural of Pranthya village, Mangalore Taluk along with common rights, amenities and facilities. Owner: Pattadi Sanitary Boundaries: North: Remaining portion of same S.D. East: Survey Line South: Survey Line West: Survey Line

19.08.2019 between 2.00 P.M. and 4.00 P.M. with auto Date and time of e- auction extension of 5 minutes each till sale is completed.

Reserve price & Earnest Money Deposit Property No. Reserve Price* Earnest Money Deposit 1 Rs 84,00,000/- Rs 8,40,000/- 2 Rs 10,62,500/- Rs 1,06,250/- 3 Rs 37,18,750/- Rs 3,71,875/- 4 Rs 42,50,000/- Rs 4,25,000/- 5 Rs 21,25,000/- Rs 2,12,500/- 6 Rs 15,84,825/- Rs 1,58,483/- 7 Rs 18,86,273/- Rs 1,88,627/- 8 Rs 1,18,73,000/- Rs 11,87,300/- *Inclusive of Income Tax Deposit through EFT/NEFT/ RTGS Transfer in favour of “IOB E AUCTION EMD ACCOUNT ” to the credit of A/C no. 298902000005555 Indian EMD Remittance Overseas Bank, M G Road Branch, Jaganath Rao Joshi Souda, PVS Circle, Mangalore 575003 Branch Code: 2989 IFSC Code: IOBA0002989 Bid Multiplier

Property No. Bid multiplier 1 Rs 10,00,000/- 2 Rs 2,00,000/- 3 Rs 5,00,000/- 4 Rs 5,00,000/- 5 Rs 2,00,000/- 6 Rs 2,00,000/- 7 Rs 2,00,000/- 8 Rs 10,00,000/-

08.08.2019 between 10.00 A. M. and 5.00 P.M. Inspection of property

03.08.2019 onwards Submission of online application for bid with EMD

Last date for submission of online application for BID 17.08.2019 with EMD.

Known Encumbrance if any Nil *Outstanding dues of Local Self Government Nil (Property Tax, Water sewerage, 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. Matex Net Pvt. 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 website http://www.matexnet.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/email.

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 Authorized Officer before 4.00 P.M. on 17.08.2019.

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. 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. 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 Authorized Officer/Secured Creditor shall not be responsible in any way for any third party claims/ rights/dues.

17. 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 the Branch Manager, Indian Overseas Bank, Moodabiri Branch, Nishmita Towers, Moodbidri, Mangalore- 574227 during office hours, Phone no. 08258- 236179 or the Bank’s approved service provider M/s.Matex Net Pvt. Ltd. Contact person: Mr. Roshan, Ph No.– 080-95439512/080– 42440600- 31, e-mail: [email protected].

PLACE: Moodabidri Authorised Officer DATE: 02.08.2019