LCRD / ERNAKULAM DIVISION
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Ref No. EKMLCRD/SALE/SAR-3656/
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/2023
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SPEED POST/AD
NOTICE FOR SALE OF SECURITY PROPERTIES ISSUED UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002, (hereinafter referred to as Act) r/w SECURITY INTEREST (ENFORCEMENT) RULES, 2002 (hereinafter referred to as Rules).
Whereas
The Federal Bank Ltd (hereinafter referred to as ‘the Bank’) through its Authorised Officer under the SARFAESI Act issued a demand notice dated 01-11-2021 calling upon the borrowers namely (1) Sri Ignatious M T, S/o Thomas, Moothedan House, Near Private Bus Stand, Aluva – 683 101 (2) Smt Saiji Ignatious, W/o Ignatious M T, Moothedan House, Near Private Bus Stand, Aluva – 683 101 (3) Sri Damodaran Nair K P, S/o Adiyadavan Kunhambu Nair, 35/1872, Sabari, South Janatha Road, Palarivattom P O, Ernakulam – 682 025 (4) Sri Jacob N X, S/o Xavier N C, Naduvilaparambil, K G Martin Road, Aroor, Alapuzha – 688 534 to repay the amount mentioned in the notice being Rs.2,29,18,714.00 (Rupees Two Crore Twenty Nine Lakh Eighteen Thousand Seven Hundred and Fourteen only) being the amount due under the credit facilities availed from Aluva Bank Junction branch, together with interest and costs and other charges within 60 days from the date of receipt of the said notice.
Whereas the borrowers having failed to repay the amount within the stipulated time, the Authorized Officer on behalf of the Federal Bank Ltd has taken possession of the security properties described herein below in exercise of powers conferred under section 13(4) of the said Act read with Rule 8 of the said Rules on 04-02-2022 by issuing notices to the borrowers/ defaulters and general public and publication thereof in news papers as contemplated under the said Act and Rules.
The undersigned hereby give notice to the borrowers and general public that the Bank has decided to sell on 21st June, 2023 the property described herein below on “AS IS WHERE IS” , “AS IS WHAT IS” , and “WHATEVER THERE IS” basis under Rules 8 & 9 of the said Rules for realising the dues of Rs.2,85,84,699/- (Rupees Two Crore Eighty Five Lakh Eighty Four Thousand Six Hundred and Ninety Nine only) as on 21-06-2023 with further interest, cost and other charges and thus the undersigned being the Authorised Officer of the Bank hereby invites from interested the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder.
DESCRIPTION OF THE PROPERTY
All the piece and parcel of the landed property measuring 10.33 Ares comprised in Survey No.127/8A of Edappally South Village, Kanayannur Taluk, Ernakulam District, Kerala State bounded as per title deed on East by Corporation Road & Property of Mary, South by Properties of Saint George Church & Mary, West by Property of Saint George Church and North by Property of Baby
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The Federal Bank Ltd LCRD/Ernakulam Division, Ground Floor, Federal Towers, Marine Drive, Cochin-31, phone number:0484- 2385538,2201157 & email id: [email protected] CIN: L65191KL1931PLC000368 website: www.federalbank.co.in
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Terms and Conditions
The property described above will be sold in single lot and the reserve price above which the property will be sold is Rs.4,81,00,000.00 (Rupees Four Crore Eighty One Lakh only)
The intending purchasers shall submit/send to the undersigned, their tender quoting the price offered by them in a sealed cover along with a Demand Draft favoring The Federal Bank Ltd payable at Ernakulam or by RTGS/ NEFT for Rs.48,10,000.00 (Rupees Forty Eight Lakh Ten Thousand only) being Earnest Money Deposit (EMD) equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is not accepted. The Demand Draft/ RTGS/ NEFT details for EMD shall be sent/ handed over to the undersigned separately along with the envelope containing the tender under acknowledgement.
Tenders which are not duly sealed and are not accompanied by Demand Draft/ RTGS/ NEFT as afore stated will be summarily rejected.
The tenders not offering price above the Reserve Price as mentioned above will be rejected.
The sealed covers containing tender shall reach the undersigned before 10.30 AM on 21/06/2023.
The intending purchasers/their authorized representatives shall be present along with a valid photo identity proof before the undersigned at his office on 21/06/2023 at 11.00 AM when the tenders will be opened. In cases where the tender is submitted by incorporated company/ trusts/ partnerships/ associations, the person representing such company/ trusts/ partnerships/ associations shall produce true copy of resolution / authorization from the company/ trusts/ partnerships/ associations.
After opening the tender, the intending bidders may be given opportunity at the discretion of the Authorized Officer to have, inter-se bidding among themselves to enhance the offer price.
The successful bidder shall deposit 25% of the bid amount/sale price inclusive of the EMD immediately on acceptance of his/her tender/offer by the Bank and the balance 75% within 15 days, or such further time as permitted by the Authorised Officer in accordance with the law, failing which the entire deposit inclusive of EMD made by him / her / them shall be forfeited without any notice and the property concerned will be re-sold.
All payments shall be made by way of Demand Draft drawn in favour of The Federal Bank Ltd payable at Ernakulam or by way of RTGS.
The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
No prior/other encumbrance in respect of the property has come to knowledge and information of the Bank. The Bank will not be held responsible for any charge, lien and encumbrance, property tax or any other dues etc. to the Govt. or anybody in respect of
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The Federal Bank Ltd LCRD/Ernakulam Division, Ground Floor, Federal Towers, Marine Drive, Cochin-31, phone number:0484- 2385538,2201157 & email id: [email protected] CIN: L65191KL1931PLC000368 website: www.federalbank.co.in
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the property under sale. The society charges and the encumbrances, if any should be cleared by the purchaser of the properties.
The Authorized Officer has the absolute right to accept or reject the bid/ all or any tender including the highest tender or adjourn / postpone the sale without assigning any reason. The decision of the Authorized Officer/Bank shall be final.
The intending purchasers can inspect the properties between 11.30 A.M. and 3.30 P.M on 05/06/2023.
The intending purchasers who wish to inspect the properties and / or to know further details / conditions may contact the Authorised Officer in his/her above address and/ or LCRD/Ernakulam Division of The Federal Bank Ltd at 0484-2201157 or at [email protected]. Details of sale notice is also available in the Bank’s website www.federalbank.co.in.
The buyer should satisfy himself/herself/itself as to the title, extent, ownership, statutory approvals etc of the properties concerned, before participation in the auction.
The properties are put for sale subject to the provisions under the above Act / Rules and other prevailing laws.
If any of the dates mentioned above happens to be a holiday/ hartal/ protest called by any political parties including the date of execution/ sale, the very next Bank working day will be considered for that particular event and related events.
This sale notice is issued as per Rule 9 of the Security Interest (Enforcement) Rules, 2002.
Dated this the 29th day of May, 2023 at Ernakulam
For The Federal Bank,
Vice President (Authorized Officer under SARFAESI Act)
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The Federal Bank Ltd LCRD/Ernakulam Division, Ground Floor, Federal Towers, Marine Drive, Cochin-31, phone number:0484- 2385538,2201157 & email id: [email protected] CIN: L65191KL1931PLC000368 website: www.federalbank.co.in
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