INDIAN OVERSEAS BANK (A Govt. of India Undertaking) Central Office, 763, Anna Salai, Chennai Regional Office: Visakhapatnam Branch: Jagadamba Branch NOTICE OF SALE Sale of Immovable property/ies mortgaged to Bank under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (No. 54 of 2002) Auction No. IOB/JAGA/1 Dated 10.09.2020 Whereas, the Authorized Officer of Indian Overseas Bank had taken symbolic possession of the following property/ies pursuant to the notice issued under Sec 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 in the following loan account with right to sell the same on “AS IS WHERE IS BASIS, AS IS WHAT IS BASIS” for realization of Bank's dues plus interest as detailed hereunder and whereas consequent upon failure to repay the dues, the undersigned in exercise of power conferred under Section 13(4) of the said Act proposes to realize the Bank's dues by sale of the said property/ies. The Sale will be done by the undersigned through e-auction platform provided at the website https://www.mstcecommerce.com/auctionhome/ibapi on 14.10.2020 (Wednesday) at 11.00AM Sr. Name of Account / Borrower Description of the Charged @Secured EMD & Details of the Any No. Proprietor / Partner / Director & assets put under e-auction creditor’s Reserve encumbrances other Guarantors With father’s / Outstanding Price known to the thing husband’s name. Dues below which secured creditor which assets put the Name of Branch of the Bank under e- authoriz presently where account of the auction ed borrower if maintained will not be officer sold consider it material for a (A)Name of the Borrower (A) Name of Title Deed Holder, Outstanding (A)Reserve (A ) purchas Account with address & PIN Dues of the Price - Outstanding er to Code Mr. Ponnaganti Suresh, S/o bank---- Rs.7,60,000/- Dues of know in Ponnaganti Surya Rao Rs.2,28,300/- (Rupees Local Self order Mr. Ponnaganti Suresh, S/o (Rupees Two Seven Lakhs Govt , (if any to judge Ponnaganti Surya Rao, Door Lakhs Twenty Sixty known to the t No.1-76-21, Plot No.37, Sector- III, Eight Thousand Thousand Bank) ---- Not he M.V.P. Colony, Visakhapatnam, Three Hundred Only) Known nature & Andhra Pradesh, Pin Code- Only) + Interest & the 530017 (Borrower/Mortgagor) other expenses value of till realization of the Bank’s dues property Charged (B). Name of Borrower B) Address with PIN Code of the (B)Above is (B) EMD (A2)Electricit y assets put Proprietor/Partner/Director assets put under e-auction inclusive of Amount Bill- Rs ---- under With father’s /husband’s interest & other (Rs in lacs) ------ as charges on e- name : vacant site admeasuring 266.66 Rs.76,000/- Not Known auction square yards or 223.99 square meters calculated up : (Rupees 10.09.2020 Mr. Ponnaganti Suresh, S/o of plot no 194 in total extent of 22.83 Seventy Six Ponnaganti Surya Rao, Door cents covered by S No’s 67, 68, 71, 75- Thousand No.1-76-21, Plot No.37, Sector- III, 1,113 & 120 situated at Rajakoduru Only) M.V.P. Colony, Visakhapatnam, village & Panchayat, Rambilli Mandal, Andhra Pradesh, Pin Code- Yelamanchili Sub-Registrar Office, Not 530017 (Borrower/Mortgagor) Anakapalli. Known ( C) Name of Guarantors ( C) Description , measurable area & ( C)Date of ( C) (A3)Water With Boundaries with nearest land mark Demand Notice - incremental Sewerage father’s /husband’s name of Security Charged to the bank & 13(2) under Bid Amount Tax/ /Corporate put under SARFAESI Act (Rs in lacs Charges -- guarantors with addresses with Rs -------as on ----- PIN Code --- : Nil All the part and parcel of vacant site 11.07.2015 Bid Increase Not known admeasuring 266.66 square yards or amount 223.99 square meters of plot no 194 in Rs.25,000/- total extent of 22.83 cents covered by S No’s 67, 68, 71, 75-1,113 & 120 situated at Rajakoduru village & Panchayat, Rambilli Mandal, Yelamanchili Sub-Registrar Office, Anakapalli Jurisdiction, Visakhapatnam District and approved by Visakhapatnam Urban Development Authority (VUDA) vide LP No 18/2012 RC No 21712/2011/L1 dated 31-03-2012. Boundaries: East: 40’ Feet wide road. South: Plot No 195. West: Plot No 220 & 221. North: 40’ Feet wide road. (D) Name of the Branch of the Date of ( B ) Other than dues of Local Bank where account of the Taking Self Govt any other borrower is presently maintained [Possession encumbrance known to : 13(4) under Bank : Nil Indian Overseas Bank, SARFAESI Act: Jagadamba Centre Branch 21.03.2016 28-1-1/2, Dabagardens, Visakhapatnam-530020 The intending Bidders / Purchasers are requested to register on portal (https://www.mstcecommerce.com/auctionhome/ibapi) using their mobile number and email-id. Further, they are requested to upload requisite KYC documents. Once the KYC documents are verified by e- auction service provider (may take 2 working days), the intending Bidders /Purchasers has to transfer the EMD amount using online mode in his Global EMD Wallet by 12.10.2020 before the e-Auction Date and time in the portal. The registration, verification of KYC documents and transfer of EMD in wallet must be completed well in advance, before auction. Date & time of e-auction: 14.10.2020, from 11.00 AM to 12.00 PM (with unlimited extension) at the platform of “https://www.mstcecommerce.com/auctionhome/ibapi” (platform of Service Provider). TERMS AND CONDITIONS 1. Earnest Money Deposit (EMD) amount as mentioned above shall be paid online through 3 modes i.e. NEFT/Cash/Transfer (After generation of Challan from (https://www.mstcecommerce.com/auctionhome/ibapi) in bidders Global EMD Wallet. NEFT transfer can be done from any Scheduled Commercial Bank, however for Cash/Transfer, the bidder has to visit Allahabad Bank (Now Indian Bank) Branch. Payment of EMD by any other mode such as Cheques will not be accepted. Bidders, not depositing the required EMD online, will not be allowed to participate in the e-auction. The Earnest Money Deposited shall not bear any interest. 2. The successful bidder shall have to deposit 25% (twenty five percent) of the bid amount, less EMD amount deposited, latest by the next working day and the remaining amount shall be paid within 15 days from the date of E-auction in the form of Banker's Cheque / Demand Draft issued by a Scheduled Commercial Bank drawn in favor of ”The Authorized Officer, Allahabad Bank (Now Indian Bank), A/c 50004909882 Payable at. Wrightganj, Ghaziabad. In case of failure to deposit the amounts as above within the stipulated time, the amount deposited by successful bidder will be forfeited to the Bank and Authorized Officer shall have the liberty conduct a fresh auction/sale of the property & the defaulting bidder shall not have any claim over the forfeited amount and the property. 3. Payment of sale consideration by the successful bidder to the bank will be subject to TDS under Section 194 – 1A of Income Tax Act 1961 and TDS is to be made by the successful bidder only at the time of deposit of remaining 75% of the bid amount where the sale price is Rs.50,00,000/- and above. 4. On receipt of the entire sale consideration, the Authorized Officer shall issue the Sale Certificate as per rules. 5. All expenses relating to stamp duty and registration of Sale Certificate, if any, shall be borne by the successful bidder. 6. The Authorized Officer/Bank has the absolute right to accept or reject any bid or adjourn/postpone/ cancel the sale without assigning any reason therefore. 7. The Sale shall be subject to rules/conditions/prescribed under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 8. Platform (https://www.mstcecommerce.com/auctionhome/ibapi) for e-Auction will be provided by our e-Auction service provider M/S MSTC Limited having its registered office at 225-C, A.J.C. Bose Road, Kolkata- 700020 (contact Phone & Toll free Numbers 033- 22901004 (operation time of Help desk: 8:00 am to 8:00 pm). The intending Bidders /Purchasers are required to participate in the e- Auction process at e-Auction Service Provider’s website https://www.mstcecommerce.com/auctionhome/ibapi. This Service Provider will also provide online demonstration/ training on e-Auction on the portal. 9. The Sale Notice containing the General Terms and Conditions of Sale is available / published in the following websites/ webpage portal. (1) Https://www.ibapi.in (2) https://eprocure.gov.in/epublish/app 10. The intending participants of e-auction may download free of cost, copies of the Sale Notice, Terms & Conditions of e-auction, Help Manual on operational part of e-Auction related to this e-Auction from e-Bक्रय – IBAPI portal (https://www.ibapi.in). 11. The intending Bidders /Purchasers are requested to register on portal (https: //www.mstcecommerce.com/auctionhome/ibapi) using their mobile number and email-id. Further, they will upload the requisite KYC documents. Once the KYC documents are verified by e-auction service provider (may take 2 working days), the intending Bidders /Purchasers has to transfer the EMD amount using online mode in his Global EMD Wallet. Only after having sufficient EMD in his Wallet, the interest bidder will be able to bid on the date of e-auction. 12. Bidder’s Global Wallet should have sufficient balance (>=EMD amount) at the time of bidding. 13. During the e-auction bidders will be allowed to offer higher bid in inter-se bidding over and above the last bid quoted and the minimum increase in the bid amount must be of Rs.25,000/- to the last higher bid of the bidders.