Federal Bank : Sale Notice - Kiran Prahladan Panikar

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Loan Collection & Recovery Department - Mumbai

Division

BBYO/NBYREG/USR/SALE NOTICE/

/2023-2024

Date: 14/03/2024

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 26/02/2020 as contemplated under Section 13 (2) of the Act calling upon you the borrowers, (1)

Mr. Kiran Prahladan Panicker, (2) Mr. Prahladan G Panicker, (3) Mrs. Sheela Prahlad, and (4) Mrs. Binitha Balan, all residing at Aai Dada Nivas, Brahman Pada, Shantinagar, Kalyan - Ambernath Road, Near Shantigram Vidyamandir, Ulhasnagar 3, Dist. Thane - 421002 and also at Flat No. 104, 1st Floor, Building No. A-17,Daffodil Shrishti Hills CHSL, Shrishti Hills Complex, Ambernath (West), Thane - 421304, to repay the amount mentioned in the said notice being Rs.22,22,313/- (Rupees Twenty Two Lakhs Twenty Two Thousand Three Hundred and Thirteen Only) together with further interest thereon with monthly rests till payment being the amount due under various credit facilities availed by them from our Branch: Ulhasnagar within 60 days from the date of the said notice.

Whereas the borrower's having failed to repay the amount within the stipulated time, the Authorized Officer on behalf of the Federal Bank Ltd. 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 09th 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 24/04/2024, the properties 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.29,14,018.52 (Rupees Twenty Nine Lakhs Fourteen Thousand Eighteen and Paisa Fifty Two Only) as on 18/10/2022 (claim amount as per Original Application filed before Hon'ble Debts Recovery Tribunal - 3, Mumbai, vide O.A No.923 of 2023) along with further interest, charges and cost thereon from 19/10/2022 due from you under the various loan accounts till realization and thus the undersigned hereby invites tenders 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 the piece and parcel of the residential Flat No. 104, admeasuring 725 sq ft built up area on the 1st Floor, of the building No. A-17, known as Daffodil Srishti Hills CHSL, Srishti Hills Complex, situated at land bearing Survey No. 128 Hissa No. 1(p) of Village Chikholi, Ambernath West, Taluka Ulhasnagar, Dist. Thane, within the limits of Ambernath Municipal Council and within Sub-District Registration Thane and District Registration Thane together with all buildings existing and or to be constructed and bounded on the East by Building No. 16, on the South by Open Plot, on the West by Building No. 18 and on the North by Residential Building.

Terms and Conditions

1. The Reserve price below which the property will not be sold is Rs. 19,00,000/- (Rupees Nineteen Lakhs 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 24/04/2024 between 11.30 AM to 1.30 PM under the supervision of the Authorised officer of the Federal Bank Limited.

3. E-auction tender document containing e-auction bid conditions of online auction sale are available in website:

form, declaration, general terms and https:// federalbank.auctiontiger.net

1. The prospective bidders may avail online training on E-Auction from M/S E-Procurement Technologies Ltd. - Auction Tiger help line no. & email ID: Mr. Ramprasad - Mobile No: 8000023297 & Email Id - [e-mail]
2. 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.
3. 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.1,90,000/- (Rupees One Lakh Ninety Thousand Only), before 3.00 PM on 23/04/2024, being earnest money deposit (EMD) equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is not accepted.
4. The incremental Bid amount will be in the multiple of Rs. 10,000.00 (Rupees Ten 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.
5. 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.
6. 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 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 05/04/2024 between 2.30 pm and 4.30 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 14th day of March 2024 at Mumbai.

For The Federal Bank Limited,

Mr. Sandeep Jaysing Keluskar Associate Vice President (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