Federal Bank : Sale Notice - Amutha R

LCRD Chennai Division

MDSH/RKW/Amutha/2023-24

Date:07th March 2024

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 26/10/2021 calling upon the borrower(s) and / or guarantor (s) and / or defaulters (1) Mrs.R.Amutha, W/o S.Rathinam and (2) Mr.R.Arulprasanth, S/o S.Rathinam, both residing at D.No.1-IV 15A, Pachakadu, Sankari Post and Taluk, Salem District - 637 301 to pay the amount mentioned in the notice being ₹ 1,04,83,516 (Rupees One Crore Four Lakhs Eighty Three Thousand Five Hundred and Sixteen only) under account No.22146600000298 as on 26.09.2021 till the date of payment and costs and other charges availed by them from Br. Iveli within 60 days from the date of receipt of the said notice.

Whereas the borrower(s) and / or guarantor (s) 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 15.02.2022 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers as contemplated under the said Act and Rules.

The undersigned hereby give notice to the borrower(s) and / or guarantor (s) and / or defaulters and general public that the Bank has decided to sell on 12th April 2024 the property described herein below on " As is where is", "As is what is" and "Whatever there is "under Rules 8 & 9 of the said Rules for realizing the dues of Rs.1,27,87,083.29 (Rupees One Crore Twenty Seven Lakhs Eighty Seven Thousand Eighty Three and paise Twenty Nine only) being the amount due under Federal Agri Mobile loan Account No.22146600000298 as on 12.04.2024 together with future interest thereon as per OA claim till realization and thus the undersigned hereby invites from interested parties e-bids for purchasing the property subject to the terms and conditions mentioned hereunder.

Description of Mortgaged Immovable Property/ies

Description Of Property		Reserve Price	EMD
All that piece and parcel of land comprised in Sy No. 27/2D , New Sub Division Sy No.
27/2D 1 admeasuring 30 Cents with all improvements threon ,	situated at Uthangarai	Rs.1,31,00,000/-	Rs.13,10,000/-
Village, within Uthangarai Town Panchayat limits, Dharmapuri District within the Reg-
(Rupees One Crore	(Rupees	Thirteen
istration District of Krishnagiri; Registration Sub District of Uthangarai and bounded on	Thirty One Lakhs	Lakhs Ten Thousand
the East of: 16 ft common pathway left by Donor; North of: Land of Donor; South of:	only).	Only)
Land of Balasubramaniam and West of: Land of Kunjayee Ammal .

Terms and Conditions

1. Auction sale/bidding would be only through "ONLINE ELECTRONIC BIDDING" process through the website www.bankeauctions.com of M/s. C1 India Private Limited.
2. The property will be sold on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis for an amount above the RESERVE PRICE.
3. The Earnest Money Deposit (EMD) which is equivalent to 10 % of the Reserve Price of the property concerned is Rs.13,10,000/- (Rupees Thirteen Lakhs Ten Thousand Only), which is refundable if the tender is not accepted.

The Federal Bank Ltd., LCRD Chennai Division, No: 27, 5th Floor, Akshaya Shanti, Opp. Head Post Office, Anna Salai, Chennai- 600002, Phone: [phone], email id: [e-mail]

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

1. The EMD shall be submitted on or before 10/04/2024, latest by 05:00PM. Any bid submitted beyond the date and time referred above will not be entertained. If the bid form is submitted by an incorporated company, the person representing such company shall submit / produce the true copy of resolution / authorization from the company.
2. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Chennai or by RTGS/NEFT (A/c No. 14082200000026, IFSC: FDRL0001408).
3. The auction will be conducted online between 11:00 AM and 01:00 PM on 12/04/2024, with unlimited extension of 5 minutes each.
4. The auction would commence above the reserve price mentioned. Bidders shall improve their offers in multiples of Rs.50,000/- (Rupees Fifty Thousand Only)
5. The intending bidders shall hold a valid e-mail address and register their names at the portal and get their user id and password from M/s. C1 India Private Limited whereupon they would be allowed to participate in the online e-auction. The prospective bidders may avail online training on e-auction from M/s. C1 India Private Limited - Shri Prabakaran M at [phone],[e-mail] [e-mail]
6. The Federal Bank Limited / M/s. C1 India Private Limited shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the cause.
7. The intending purchasers who wish to inspect the property and / or know further details / conditions may contact the undersigned in the below address or Shri. Varun A C Senior Manager & Branch Head, Br. Iveli at [phone]. Details of the auction sale, terms and conditions etc. are also available in our website,https://www.federalbank.co.in/web/guest/tender-notices& www.bankeauctions.com of M/s. C1 India Private Limited.
8. The intending purchasers can inspect the properties between 03.00PM and 05.00PM on 05th of April 2024 in consultation with Br. Iveli.
9. The successful bidder shall deposit 25% of the bid amount / sale price (inclusive of EMD) immediately on acceptance of his tender/ offer by the Bank and the balance 75% within 15 days or such further time as permitted by the authorized officer in accordance with law, failing which the entire deposit inclusive of EMD remitted shall be forfeited without any notice and the property will be re-sold.
10. The successful bidder shall bear the entire charges/tax/fees payable for conveyance such as stamp duty, registration fee etc as applicable as per law.
11. The Bank will not be held responsible for any charge, lien, encumbrance, property tax or any other dues to the Government or anybody in respect of the property under sale. The encumbrances, if any, should be cleared by the purchaser of the properties.
12. The Authorised officer has the absolute right to accept or reject all or any bid including the highest bid or adjourn/postpone/cancel the sale without assigning any reason. The decision of the Authorised Officer/Bank shall be final.
13. The buyer should satisfy himself/ herself / itself as to the title, extent, ownership, statutory approval etc. in respect of the properties concerned before participating in the auction.
14. If any of the dates mentioned above happen to be a holiday/harthal/protest called by any political par- ties/association/ groups which adversely affects the functioning of the Bank / M/s. C1 India Private Lim- ited, the very next Bank working day may be considered for that event and related events including the date of auction/sale.
15. The property is put for sale subject to the provisions under the above Act / Rules and other prevailing laws.
    Dated this the 07th day of March 2024 at Chennai

For The Federal Bank Ltd.

Asst. Vice President

(Authorised Officer under SARFAESI Act)

The Federal Bank Ltd., LCRD Chennai Division, No: 27, 5th Floor, Akshaya Shanti, Opp. Head Post Office, Anna Salai, Chennai- 600002, Phone: [phone], email id: [e-mail]

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