Federal Bank : Sale Notice - Sayaji H Gaikwad

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Loan Collection & Recovery Department -Mumbai

Division

BBYO/BBYREG/WLV/SALE NOTICE/

/2024-2025

Date: 08/05/2024

SPEED POST/AD

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 Limited, under the Act, issued a demand notice dated 18-11-2014,calling upon the borrowers and defaulters, 1) Mr. Sayaji Hindurao Gaikwad, 2) Mr. Nilesh Sayaji Gaikwad and 3) Mrs. Asha Sayaji Gaikwad all at Flat No. A/ 402, Building No. 1, Manohar Nagar, Waliv, Vasai (East), Maharashtra to repay the amount mentioned in the notice being Rs. 2,41,431.91 (Rupees Two Lakhs Forty One Thousand Four Hundred Thirty One and Paise Ninety One Only) together with interest and costs within 60 days from the date of receipt of the said notice being the amount due under housing loan account: 15757300000120 availed by the borrowers.

Whereas the borrower's having failed to repay the amount within the stipulated time, the Authorized Officer on behalf of the Federal Bank Limited has taken physical 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 23rd day of June 2023 by issuing a notice to the borrowers and general public and publication thereof in newspapers as contemplated under the said Act and Rules.

The undersigned hereby give notice to the borrowers/defaulters and general public that the Bank has decided to sell on 15/06/2024, the property described herein below on "AS IS WHERE IS" "AS IS WHAT IS" & "WHATEVER THERE IS" basis under Rules 8 & 9 of the said Rules for realizing the dues of Rs.9,51,738.91 (Rupees Nine Lakhs Fifty One Thousand Seven Hundred Thirty Eight and Paisa Ninety One Only) as on 15/06/2024 along with further interest, charges and cost thereon from 16/06/2024 due from the borrowers under housing loan account: 15757300000120 with Branch: Waliv of The Federal Bank Limited and thus the undersigned hereby invites tenders/e-bids from interested parties for purchasing the property subject to the terms and conditions mentioned hereunder.

"While we call upon you to discharge your liability as above by payment of the entire dues to the Bank together with applicable interest, all costs, charges and expenses incurred by the bank till repayment and redeem the secured asset, within the period mentioned above, Please take important note that as per section 13(8) of the SARFAESI Act 2002, (as amended), the right of redemption of secured asset will be available to you only till the date of publication of notice for publication or inviting tenders from public or private treaty for transfer by way of lease, assignment or sale of the secured asset."

The Federal Bank Limited, Loan Collection & Recovery Department - Mumbai Division, 134, 13th Floor, Joly Maker Chamber II,

Nariman Point, Mumbai - 400021 E-mail:[e-mail],Phone : 022 - 22022548 / 22028427

CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in

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Description of Property

All that piece and parcel of land having an extent of area of 688.75 Sq. ft. super built up area along with all improvements thereon in Flat No. A-402, 4th floor, Building No. 1, Manohar Nagar, Waliv, Vasai (East), Dist. Thane situated in Surevey No. 49/4 I, Village Waliv, Taluka Vasai, Thane District, State Maharashtra and bounded on North by common compound and Waliv Road, South by Manohar Nagar Building, East by vacant plot and West by J P Patil's old house, Uplabdha Hotel.

Terms and Conditions

1. The Reserve price below which the property will not be sold is Rs.13,87,000/- (Rupees Thirteen Lakhs and Eighty Seven Thousand Only).
2. The property will be sold by e-auction through the Bank's approved service provider M/S E- Procurement Technologies Ltd. - Auction Tiger on 15/06/2024 between 11.30 AM to 1.30 PM under the supervision of the Authorised officer of the Federal Bank Limited.
3. E-auctiontender document containing e-auction bid form, declaration, general terms and conditions of online auction sale are available in website: https:// federalbank.auctiontiger.net
4. The prospective bidders may avail online training on E-Auction from M/S E-ProcurementTechnologies Ltd. - Auction Tiger help line no. & email ID: Mr. Ramprasad - Mobile No: 8000023297 & Email Id [e-mail]/[e-mail]
5. Bids in the prescribed formats given in the Tender Document shall be submitted "online" through the portal https:// federalbank.auctiontiger.net. Bids submitted otherwise shall not be eligible for consideration.
6. The EMD shall be remitted through EFT/NEFT/RTGS to the Federal Bank account no. A/c No 14030051030001, IFSC Code No. FDRL0001403 as mentioned above for Rs.1,38,700/- (Rupees One Lakh Thirty Eight Thousand and Seven Hundred Only), before 3.00 PM on 14/06/2024, being earnest money deposit (EMD) equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is not accepted.
7. The incremental Bid amount will be in the multiple of Rs.5,000.00 (Rupees Five Thousand Only). The successful bidders shall deposit 25% of the bid amount / sale price (less 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 properties concerned will be re-sold.
8. All other payments shall be made in the form EFT/NEFT/RTGS as mentioned above or DD drawn in favour of The Federal Bank Limited, payable at Mumbai.
9. The successful bidders shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per law.

The Federal Bank Limited, Loan Collection & Recovery Department - Mumbai Division, 134, 13th Floor, Joly Maker Chamber II,

Nariman Point, Mumbai - 400021 E-mail:[e-mail],Phone : 022 - 22022548 / 22028427

CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in

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10.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.

11.The Authorized Officer has the absolute right to accept or reject the bid/ all or any tender including the highest tender or adjourn/postpone/cancel the sale without assigning any reason. The decision of the Authorized Officer/Bank shall be final.

12.The buyers should satisfy themselves on the title, ownership, and statutory approvals etc., before participation in the auction. The tender shall not be accepted if the bid is below the reserve price.

13.The intending purchasers can inspect the property on 21/05/2024 between 2.00 pm and 4.00 pm with prior appointment.

14.For further details regarding other conditions of sale, the intending bidder may contact the undersigned.

15.The borrowers/guarantors named above shall treat this as notice of thirty days as stipulated in

Rule 8(6) read with Rule 9 of the said Rules and pay the secured debt in full to avoid sale of the secured property.

Dated this the 08th day of May 2024 at Mumbai.

For The Federal Bank Limited,

Mr. Lecin C

Deputy Vice President - I & Division Head (Authorised Officer under SARFAESI Act)

The Federal Bank Limited, Loan Collection & Recovery Department - Mumbai Division, 134, 13th Floor, Joly Maker Chamber II,

Nariman Point, Mumbai - 400021 E-mail:[e-mail],Phone : 022 - 22022548 / 22028427

CIN: L65191KL1931PLC000368, Website: www.federalbank.co.in