2019 Date: 24

The Federal Bank Ltd., L C R D/Chennai Division, 1st Floor, No. 57 Royapettah High Road, Near E P F Office, Royapettah, Chennai 600 014. ... being the...

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L C R D / Chennai Division

MDSH/SO 36 /

/2019

Date: 24th January 2019

NOTICE FOR SALE OF IMMOVABLE PROPERTY 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 Authorized Officer of the Federal Bank Ltd. under the Act issued a demand notice dated

05.06.2018

calling upon the borrowers and/or guarantors and/or defaulters: 1.

Sri Krishna Murthy R, S/o Rangaiya Gounder, residing at No. 13 M , Pasungaya Mangalam Street, Kallakurichi 606 202, Villupuram District, Tamilnadu State and carrying on business in the name and style of M/s Santhosh Modern Rice Mill at No. 13 M, K A Mamanandal Road, Kallakurichi 606 202, Villupuram District, Tamilnadu State.

2.

Smt Saraswathi K, W/o Krishna Murthy R, residing at No. 13 M , Pasungaya Mangalam Street, Kallakurichi 606 202, Villupuram District, Tamilnadu State.

3.

Smt

Elakiya,

D/o

Krishna Murthy R,

residing at

No.

13 M , Pasungaya Mangalam Street,

Kallakurichi 606 202, Villupuram District, Tamilnadu State. 4.

Smt

Saranya K, D/o Krishna Murthy R, residing at No. 13 M , Pasungaya Mangalam Street,

Kallakurichi 606 202, Villupuram District, Tamilnadu State. 5.

Sri Santhosh K, S/o Krishna Murthy R, residing at No. 13 M , Pasungaya Mangalam Street, Kallakurichi 606 202, Villupuram District, Tamilnadu State.

to pay the amount mentioned in the notice being ₹. 7,63,45,046/68 (Rupees seven crores sixty three lakhs forty five thousand forty six and paise sixty eight only) being the amount due under Cash Credit (Rice Mill Plus) loan No. 19055500000156 availed of by hem from our Kallakurichi branch as on 31.05.2018 (interest applied upto 31.05.2018)

together with future interest thereon @ 9.88 % per annum with monthly rests and penal

interest @ 2 % per annum from 01.06.2018 till the date of payment and costs and other charges

within 60

days from the date of receipt of the said notice. Whereas the borrowers and/or guarantors and/or defaulters 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 property 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 28.08.2018 by issuing a notice to the borrowers/defaulters and general public and publication thereof in news papers as contemplated under the said Act and Rules.

The Federal Bank Ltd., L C R D/Chennai Division, 1st Floor, No. 57 Royapettah High Road, Near E P F Office, Royapettah, Chennai 600 014. Phone: 044 28131373; 28130988 email id: [email protected] website: www.federalbank.co.in

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The undersigned hereby give notice to the borrowers and/or guarantors and/or defaulters and general public that the Bank has decided to sell on 28th February 2019 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 realizing the dues of Rs. 8,14,64,443/68 (Rupees eight crores fourteen lakhs sixty four thousand four

hundred forty three and paise sixty eight only) being the amount due under the aforesaid Cash Credit (Rice Mill Plus) loan No. 19055500000156 as on 31.12.2018 (interest applied upto 31.12.2018) together with future interest thereon @ 11.93 % per annum with monthly rests and penal interest @ 2 % per annum from 01.01.2019 till the date of payment and costs and other charges and thus the undersigned hereby invites from interested parties the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder. DESCRIPTION OF THE PROPERTY SCHEDULE A All that piece and parcel of landed property admeasuring 3.39 Acres of land together with Rice Mill buildings and other improvements thereon comprised in i)

Punja R S No. 2/8B –

0.39 Acres

ii)

Punja R S No. 2/9B –

0.35 Acres

iii)

Punja R S No. 10/1B - 2.65 Acres

Situated at

Casbah Kallakurichi limit,

K Mamanandal Road,

Ammaniya Thottam,

Kallakurichi Taluk,

Villupuram District within the Registration District of Kallakurichi; Registration Sub District of Kallakurichi Joint II and bounded on the North by: Road; South by: R S No. 10/2A; East by: R S No. 1 and West by: Road morefully described in Partition Deed No. 1889/1997 dated 26.11.1997 and also in Release Deed No. 528/2007 dated 14.02.2007 of

S R O, Kallakurichi Joint II standing in the name of Krishna Murthy R.

Terms and Conditions a.

The reserve price below which the property will not be sold is Rs. 1,56,00,000/- (Rupees one crore fifty six lakhs only)

b.

The intending purchasers shall submit /send to the undersigned at his address at The Federal Bank Ltd., Br. Kallakurichi, No. 10, Rajambal Nagar, Salem Main Road, Kallakurichi, Villupuram District, Tamilnadu 606 202 their tender quoting the price offered by them in a sealed cover along with a Demand Draft favoring The Federal Bank Ltd. payable at Chennai/R T G S for Rs. 15,60,000/- (Rupees fifteen lakhs sixty thousand only) being earnest money equivalent to 10 % of the Reserve Price of the property concerned, which is refundable if the tender is not accepted.

c.

Tenders which are not duly sealed and are not accompanied by Demand Draft/RTGS details as afore stated will be summarily rejected.

d.

The sealed covers containing tender shall reach the undersigned at his office at The Federal Bank Ltd, Br. Kallakurichi,

No. 10,

Rajambal Nagar,

Salem Main Road,

Kallakurichi,

Villupuram District,

Tamilnadu 606 202 before 5.00 PM on 27.02. 2019. e.

The intending purchasers shall be present before the undersigned at his office at The Federal Bank Ltd, Br. Kallakurichi, No. 10, Rajambal Nagar, Salem Main Road, Kallakurichi, Villupuram District, Tamilnadu 606 202 on 28.02.2019 at 12.00 Noon (Date & Time of Sale) with a valid identity proof when the tenders will be opened. Original K Y C document(s) of the intending purchaser shall be produced while participating in the auction.

The Federal Bank Ltd., L C R D/Chennai Division, 1st Floor, No. 57 Royapettah High Road, Near E P F Office, Royapettah, Chennai 600 014. Phone: 044 28131373; 28130988 email id: [email protected] website: www.federalbank.co.in

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f.

After opening the tender, the intending bidders may be given opportunity at the discretion of the authorized officer to have, interse bidding among themselves to enhance the price.

g.

The successful bidder shall deposit 25% of the bid amount / sale price inclusive of the EMD immediately on acceptance of his tender/ offer by the Bank and the balance 75% within 15 days, failing which the entire deposit made by him shall be forfeited without any notice and the property concerned will be resold.

h.

All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Chennai or through R T G S.

i.

The successful bidder shall bear the applicable income tax as per Sec 194 1A of I T Act and entire charges / fees payable for conveyance such as stamp duty, registration fee etc. as applicable as per law.

j.

No encumbrance in respect of the property has come to the 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 the property under sale. The society charges and the other encumbrances, if any should be cleared by the purchaser of the property..

k.

The tenders offering price below the Reserve Price mentioned above will be rejected.

l.

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.

m. The intending purchasers can inspect the properties between 3.00 PM and 5.00 PM on 20.02. 2019. The intending purchasers who wish to inspect the property and / or know further details / conditions / R T G S account may contact the Authorised Officer at his below mentioned address and/or The Branch Manager, The Federal Bank Ltd, Br. Kallakurichi, No. 10, Rajambal Nagar, Salem Main Road, Kallakurichi, Villupuram District, Tamilnadu 606 202 Phone 04151 222076 & 223057 n.

The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.

o.

If any of the dates mentioned above happens to be a holiday, the very next Bank working day will be considered for that particular event and related events.

Dated this the 24th day of January 2019. For The Federal Bank Ltd.,

Asst. Vice President (Authorised Officer under SARFAESI Act).

.

The Federal Bank Ltd., L C R D/Chennai Division, 1st Floor, No. 57 Royapettah High Road, Near E P F Office, Royapettah, Chennai 600 014. Phone: 044 28131373; 28130988 email id: [email protected] website: www.federalbank.co.in

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