फोन Phone : 0891-2567546 : 08942-221870 इण्डियन ओवरसीज़ बℂक फै啍स Fax : 0891-2526982 Indian Overseas Bank ई-मेल E-Mail : [email protected] ई-मेल E-Mail : [email protected] आण्ति वसूली प्रबंधन शाखा, #48-14-111, श्री ननत्या का륍पलै啍स, ववशाखपट्टणम - 530013 Asset Recovery Management Branch, #48-14-111, Sri Nitya Complex, Visakhapatnam – 530013 E-AUCTION SALE NOTICE (Under Proviso 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 physical 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. 75,32,125/- (Rupees Seventy Five Lakhs Thirty Two Thousand One Hundred and Twenty Five Only) due to the IOB Secured creditor from 1. M/s Saketh Industries, Proprietor Mr. Udaragondi Chandra Mouli, Plot No. 24, Industrial Estate, Eluru Mandal, West Godavari Dist. (Borrower) 2. Mr. Udaragondi Chandra Mouli, S/o Venkanna, 3-23, II Block, Palagudem Post, Malkapuram, Eluru Mandal, West Godavari Dist. (Borrower/ Mortgagor), 3. Mr. Kati Venkat Ramana, S/o Mahalakshmudu, Lingaraogudem, Jaladi Post, Eluru mandal, West Godavari Dist. (Guarantor). The reserve price will be Rs. 36,88,000/- and the earnest money deposit will be Rs. 3,68,800/-. DESCRIPTION OF IMMOVABLE PROPERTY (Property Owned By Sri Udagondi ChandraMouli S/o Sri Venkanna) (Property Covered By Document No.10851/2004, Dated.08.12.2004) All the piece and parcel of the site in an extent of 476 sq yards at RS No. 175 part along with building constructed there on plot no. 24, ne0arby D No. 11/1321, Saketh Industries, Industrial Estate, Vatluru, Pedapadu Mandal, west Godavari District. Boundaries: East: 40’ wide road South: Plot No. 25 West: Plot No. 23 North: 40’ wide road For detailed terms and conditions of the sale, please refer to the link provided in IOB online secured creditor’s website i.e www.iob.in (https://www.iob.in/TenderDetails.aspx?Tendertype=E_Auction); https://www.publishtenders.gov.in or service provider’s website: https://iob.auctiontiger.net.For further details please contact :0891-2502641, 9885107912 Date: 15.05.2019 Place: Visakhapatnam Authorized Officer फोन Phone : 0891-2567546 : 08942-221870 इण्डियन ओवरसीज़ बℂक फै啍स Fax : 0891-2526982 Indian Overseas Bank ई-मेल E-Mail : [email protected] ई-मेल E-Mail : [email protected] आण्ति वसूली प्रबंधन शाखा, #48-14-111, श्री ननत्या का륍पलै啍स, ववशाखपट्टणम - 530013 Asset Recovery Management Branch, #48-14-111, Sri Nitya Complex, Visakhapatnam – 530013 ANNEXURE II 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 Saketh Industries, rep by its Proprietor Mr. Udaragondi Chandra Mouli, Plot No. 24, Industrial Estate, Eluru Mandal, West Godavari Dist. 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 21.05.2016 calling upon 1. M/s Saketh Industries, Proprietor Mr. Udaragondi Chandra Mouli, Plot No. 24, Industrial Estate, Eluru Mandal, West Godavari Dist. (Borrower) 2. Mr. Udaragondi Chandra Mouli, S/o Venkanna, 3-23, II Block, Palagudem Post, Malkapuram, Eluru Mandal, West Godavari Dist. (Borrower/ Mortgagor), 3. Mr. Kati Venkat Ramana, S/o Mahalakshmudu, Lingaraogudem, Jaladi Post, Eluru mandal, West Godavari Dist. (Guarantor) to pay the amount due to the bank, being Rs. 52,35,000/- (Rupees Fifty Two Lakhs Thirty Five thousand Six Hundred and Ten Only) with further interest and costs, and expenses within 60 days from the date of the said notice. Whereas the borrowers and the Guarantors 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 26.10.2016 and has taken symbolic possession of the secured asset more fully described in the schedule hereunder on 26.10.2016 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. 53,20,445/- (Rupees Fifty Three Lacs Twenty Thousand Four Hundred and Forty Five Only) as on 26.10.2016 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 as on 07.06.2019 (date of sale) works out to Rs. 75,32,125/- (Rupees Seventy Five Lakhs Thirty Two Thousand One Hundred and Twenty Five Only) along with further interest at contractual rates and rests, besides costs + actual expenses made for property maintenance 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 in “As is where is”, “As is what is” and “Whatever there is” condition: DESCRIPTION OF IMMOVABLE PROPERTY (Property Owned By Sri Udagondi ChandraMouli S/o Sri Venkanna) (Property Covered By Document No.10851/2004, Dated.08.12.2004) All the piece and parcel of the site in an extent of 476 sq yards at RS No. 175 part along with building constructed there on plot no. 24, ne0arby D No. 11/1321, Saketh Industries, Industrial Estate, Vatluru, Pedapadu Mandal, west Godavari District. Boundaries: East: 40’ wide road South: Plot No. 25 West: Plot No. 23 North: 40’ wide road Date and time of e – 07.06.2019 Between 01.00 PM to 03.00 PM with auto extension of 5 auction minutes each till sale is completed. Reserve Price Rs. 36,88,000/- (Rupees Thirty Six Lacs and Eighty Eight Thousand Only) Earnest Money Deposit Rs. 3,68,800/- (10% of the Reserve Price)(Rupees Three Lacs Sixty Eight Thousand Eight Hundred Only) EMD Remittance Deposit through EFT / NEFT / RTGS transfer in favour of Authorised officer, Auction Bid Account A/C to the credit of Current Account No. 257902000002579, IFSC Code IOBA0002579, Branch Address: Indian Overseas Bank, Assets Recovery Management Branch, Visakhapatnam. Bid Multiplier Rs.50,000/- Inspection of property From 22.05.2019 onwards 10.00 Hrs to 14.00 Hrs. Submission of online 22.05.2019, 10 AM onwards application for bid with EMD Last date for submission 05.06.2019 of online application for BID with EMD Known Encumbrance if Nil any *Outstanding dues Not Known (To be Borne by the auction purchaser only, If any) Rs……….. of Local Self Government(Property Tax, Water sewerage, Electricity Bills etc) Bank’s dues have priority over the Statutory dues For terms and conditions please visit: https://iob.auctiontiger.net (web portal of e-auction of service provider) Authorized Officer. Place : Visakhapatnam Indian Overseas Bank. Date : 15.05.2019 Terms and Conditions 1. The property will be sold by e-auction through the Bank’s approved service provider M/s. e- Procurement Technlogies Limited, Ahmedabad (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. 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 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. 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 time will initially be for a period of two hours with auto time extension of five minutes each till the sale is concluded. 8. Auction / bidding will be only online bidding through the portal provided by Auction Tiger. 9. 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. 10. The property shall be sold to the highest bidder. The successful bidder (purchaser) shall deposit 25% of the sale price (less the EMD) immediately on the sale being confirmed in his / her favour and the balance amount of sale price within 15 days from the date of confirmation of auction sale. If the bidder fails to deposit 25% of sale price (less the EMD) within stipulated time, the EMD deposited by him will be forfeited.