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1. M/S Sri Balaji Paper Mart (Borrower) 2. Mr. C. Adaikalam

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1. M/S Sri Balaji Paper Mart (Borrower) 2. Mr. C. Adaikalam INDIAN OVERSEAS BANK GERORGE TOWN BRANCH Phone : 25385290 Catholic Centre, 108, Armenian Street 25384656 George Town; Chennai – 600 001. EMAIL ID: [email protected] SALE NOTICE OF IMMOVABLE SECURED ASSETS Issued under Rule 8(6) and 9(1) of the Security Interest (Enforcement) Rules 2002 To 1. M/s Sri Balaji Paper Mart NO 36 ANDERSON STREET IST FLOOR SHOP NO 2, KINGS COMPLEX CHENNAI 600001 (Borrower) 2. Mr. C. Adaikalam (Proprietor) Old NO.12 New Door NO.27 Ranganathan street Triplicane Chennai – 600005. (Borrower cum Mortgagor) 3. Mrs. Indira Old NO.12 New Door NO.27 Ranganathan street Triplicane Chennai – 600005 (Guarantor) 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 18.09.2018 issued to you regarding taking possession of the secured assets at morefully described in the schedule below and the publication of the said possession notice in The New Indian Express (daily) and Dinamani (tamil daily) on 22.09.2018 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, if any, after issuance of demand notice dated 25.06.2018 . 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. After appropriating the aforesaid repayments, the dues in the loan account is Rs.1,47,52,724/-(Rupees One Crore Forty Seven Lakhs Fifty Two Thousand Seven Hundred and Twenty Four Only) along with further interest at contractual rates and rests, besides costs/charges incurred till the date of repayment in full. 5. We hereby give you notice of 15 days that the below mentioned secured assets shall be sold by the undersigned on 21.10.2019 between 11.00am and 1.00 pm hours with auto extension of 5 minutes through e-auction using https://auctions.magicbricks.com. 6. A copy of the E-auction notice inviting offers for 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 two leading nespapers Shortly. SCHEDULE OF SECURED ASSETS. ITEM NO. I All that piece andparcel of property situated at present door No.14, Old Door no.12,New Door No.27, Ranganathan Street, Triplicane , Chennai – 600 005 measuring an extent of 2190 sqft comprised in R.S. No 2826/10, Block No 52 in Triplicane Village, Mylapore-Triplicane taluk, Chennai District standing in the name of Mr. C Adaikalam, S/o Mr.Chinnaiah. Bounded on the: North by :R.S. no.2826/4 & 2826/9 South by :R.S. No.2826/2 & 2826/9 East by : R.S. No.2825 West by : R.S. No. 2826/3 Yours faithfully AUTHORISED OFFICER. Date: 30.09.2019 ENCL: 1. E-auction notice containing terms and conditions INDIAN OVERSEAS BANK GERORGE TOWN BRANCH Phone : 25385290 Catholic Centre, 108, Armenian Street 25384656 George Town; Chennai – 600 001. EMAIL ID: [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.SRI BALAJI PAPER MART has borrowed monies from Indian OverseasBank against the mortgage of the immovable properties more fully described in theschedule hereunder and on upon classification of the account as NPA, the Bankhas issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 (Act) on25.06.2018 calling upon the borrower M/s SRI Balaji Paper Mart (Borrower) NO 36 ANDERSON STREET IST FLOOR SHOP NO 2, KINGS COMPLEX CHENNAI 600001, Mr. C. Adaikalam (Proprietor)Old NO.12 New Door NO.27Ranganathan street Triplicane Chennai – 600005 (Borrower cum mortgagor) and Mrs. Indira (Guarantor)Old NO.12 New Door NO.27 Ranganathan street Triplicane Chennai – 600005 to pay the amount due to the Bank, being Rs. 1,18,62,777.64/- (Rupees one crore Eighteen lakhs sixty two thousand seven hundred and seventy seven and paise sixty four only) as on 25.06.2018 payable together with further interest at contractual rates and rests alongwith costs, charges etc tilldate 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 tothe Bank as called for in the said demand notice, the Bank has taken possession ofthe secured assets more fully described in the schedule hereunder on18.09.2018- 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 theSecurity interest (Enforcement) Rules, 2002 for realization of Bank’s dues. The dues tothe bank as on the date of taking possession was intimated as Rs.1,23,24,629.54 (Rupees one crore twenty three lakhs twenty four thousand six hundred and twenty nine and paise fifty four only) as on18.09.2018 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 30.09.2019 works out to Rs.1,47,52,724/-(Rupees One Crore Forty Seven Lakhs Fifty Two Thousand Seven Hundred and Twenty Four Only) 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 PROPERTY(IES) ITEM NO. I All that piece andparcel of property situated at present door No.14, Old Door no.12,New Door No.27, Ranganathan Street, Triplicane , Chennai – 600 005 measuring an extent of 2190 sqft comprised in R.S. No 2826/10, Block No 52 in Triplicane Village, Mylapore-Triplicane taluk, Chennai District standing in the name of Mr. C Adaikalam, S/o Mr.Chinnaiah. Bounded on the: North by :R.S. no.2826/4 & 2826/9 South by :R.S. No.2826/2 & 2826/9 East by : R.S. No.2825 West by : R.S. No. 2826/3 Date and time of e-auction 21.10.2019 between 11.00 a.m to 01.00 p.m with auto extension of minutes each till sale is completed. Reserve Price Rs. 2,43,46,000/- Earnest Money Deposit Rs. 24,35,000/- EMD Remittance Deposit through EFT/NEFT/ RTGSTransfer in favour of “ IOB CathedralBranch” 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 inmultiples of which the bid is to beincreased) Inspection of property 14.10.2019 between 11.00 am to 5.00 pm Submission of online application for bid 05.10.2019 onwards with EMD Last date for submission of online 20.09.2019 upto5.00PM application for BID with EMD Known Encumbrance if any NIL *Outstanding dues Rs.1,47,52,724/-(Rupees One Crore Forty Seven Lakhs Fifty Two Thousand Seven Hundred and Twenty Four Only) 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 . The property(ies) will be sold by e-auction through the Bank’s approved service provider https://auctions.magicbricks.com 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 https://auctions.magicbricks.com . 1. 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. 2. Bids in the prescribed formats shall be submitted “online” through the portal https://auctions.magicbricks.com alongwith the EMD & scanned copy of KYC documents including photo, PAN Card & address proof to the service provider and the Authorised Officer before 05.00 PM hours on 20.10.2019. 3. 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. 4. Bids without EMD shall be rejected summarily.
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