Federal Bank : Sale Notice - Mr. Answar Abdul Azeez Palakkattuparambu

LCRD / ERNAKULAM DIVISION

EKMLCRD/LPM/EKMA/SAR-3362//2024

04-05-2024

E- Auction Sale notice for sale of immovable Assets under the Securitization and Reconstruction of Financial Assets and Enforcement of Interest Act, 2002 read with proviso to Rule 8(6) of the Security Interest (Enforcement) Rules, 2002.

Whereas,

The Authorized Officer of the Federal Bank Ltd. under the Act issued a demand notice dated 07-05-2022 calling upon the borrower(s) and / or guarantor (s) and / or defaulters.

1. Shri. Answar Abdul Azeez Palakattu Parambu, S/o Abdul Azeez, Kandathi Parambil House, House no. 6/742A, Saraj Building, Mattanchery, Ernakulam - 682002, Also at Palakkattu Parambu House, Fort Kochi, Desom P O, Ernakulam - 682001. Also at Villa no.3, Meridian Blue Waters, Panangad P O, Ernakulam - 682506
2. Smt. Sanuja Answar, W/o Answar Abdul Azeez Palakattu Parambu, Kandathi Parambil House, House no. 6/742A, Saraj Building, Mattanchery, Ernakulam - 682002 Also at Villa no.3, Meridian Blue Waters, Panangad P O, Ernakulam - 682506 Also at 2/398, Calvathy, Fort Kochi, Ernakulam - 682001 and (3) Smt. Remiza Rayikkal Answar, D/o Answar Abdul Azeez Palakattu Parambu, Perumballi House, Thurakkal, Vatttapara, Narukara P O., Manjeri via, Malappuram - 676122

to repay the amount mentioned in the notice being (1) Rs.4,52,52,774/- (Rupees Four

Crore Fifty Two Lakh Fifty Two Thousand Seven Hundred and Seventy Four Only) in Housing Loan and (2) Rs.9,31,773/- (Rupees Nine Lakh Thirty One Thousand Seven Hundred and Seventy Three Only) in Personal Loan (Asset Guard) account, totaling to Rs.4,61,84,547/- (Rupees Four Crores Sixty One Lakh Eighty Four Thousand Five Hundred and Forty Seven only) being the amount due under the credit facility availed from our Ernakulam/North Branch 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 20-07-2022 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers as contemplated under the said Act and Rules. Subsequently Actual possession of the property was taken on 09-02-2024.

Whereas since the dues in respect of the account is remaining unpaid, 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 11th June 2024 the properties 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. 5,74,86,581/-(RupeesFive Crore Seventy Four

Lakh Eighty Six Thousand Five Hundred and Eighty One Only) as on 11.06.2024 under the aforesaid credit facilities together with further interest, cost and other charges till realization 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 mortgaged property/secured asset

Reserve Price Rs. 3,25,00,000/-

All that piece and parcel of land having an extent of 2.96 Ares (7.30 cents) marked as Plot no.3 with building having 4025 sq. ft. bearing Door no. 10/85-K of Kumbalam Grama Panchayath and all improvements thereon along with the right to use private road having 7 Meter width set apart by the vendor for the common use of all the plot owners and other common amenities and rights in the Project

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email:[e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in

"Meridian Blue Waters" in Re. Survey No.245/4-3 of Block no.16 (Old Sy. No.955/1, 954/1) of Kumbalam Village, Kanayannur Taluk, Ernakulam District, Kerala State and bounded (as per title deed) on the East by property of K T John, South by Property of Mr.Natraj Suvarna (Plot No.7), West by Property of Ravichandran Raghavaraj and on the North by Internal Private Road.

Terms and Conditions

1. Auction sale/bidding would be only through "online electronic bidding" process through the website https://federalbank.auctiontiger.net
2. The property will be sold on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis for an amount not below the Reserve Price.
3. The RESERVE PRICES and the Earnest Money Deposit (EMD) for property are as mentioned below. The property/s will not be sold below the reserve price.

RESERVE PRICE	EMD
Rs. 3,25,00,000/-	Rs. 32,50,000/-

1. The Earnest Money Deposit (EMD) for the scheduled property is equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is/are not accepted. The Schedule number of the pertinent property against which the bid / tender is submitted shall be clearly mentioned in the bid format.
2. The Bid along with EMD and relevant KYC documents shall be submitted ONLINE/ at any Branch of Federal Bank, latest by 5.00 P.M. on 10-06-2024 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.
3. Refer websitehttps://federalbank.auctiontiger.net for more details. Any bids and EMD submitted beyond the date and time referred above will not be entertained.The tenders offering price below the Reserve Price mentioned above will be rejected summarily.
4. The auction will be conducted online from 11:00 AM to 1.00 PM on 11-06-2024,with unlimited extension of 5 minutes each.
5. The auction would commence above the reserve price mentioned above. Bidders shall improve their offers in multiples of Rs. 20,000/- (Rupees Twenty Thousand Only) for property.
6. The intending bidders shall hold a valid e-mail address and register their names at the portal and get their user id and password free of cost from M/s e-Procurement Technologies Pvt Limited (Auction tiger) whereupon they would be allowed to participate in the online e-auction.
7. The prospective bidders may avail online training on e-auction from M/s e-Procurement Technologies Pvt Limited (Auction tiger), Ahmedabad, Helpline No. & email ID : 9265562818/9265562821/079-6813 6842/6869, [e-mail], and Mr. Ram
   Sharma-80000 23297 & email - [e-mail]
8. All payments shall be made in the form of RTGS to The Federal Bank Ltd, Br.
   Ernakulam/North, Bank Account No. 10040051030003 , IFSC: FDRL0001004.
9. The Bank / M/s e-Procurement Technologies Pvt Limited (Auction tiger) shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the cause.
10. The intending purchasers who wish to inspect the properties and / or know further details / conditions may contact LCRD Division, Ernakulam, Federal Towers, Marine Drive,
    Ernakulam, Kerala- 682 031, Phone No. 0484-2201801, Dealing Officer Mobile No.- 9633191919
11. Details of the auction sale, terms and conditions etc. are also available in our website,https://www.federalbank.co.in/web/guest/tender-notices.
12. The intending purchasers can inspect the properties between 12.00 PM and 4.00 PM on any working day upto 07-06-2024
13. The successful bidder of property shall deposit 25% of the bid amount / sale price (inclusive of EMD) immediately i.e on the same day OR not later than next working day, as the case may be, from the culmination of E-auction /bidding on acceptance of the

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email:[e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in

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.

1. The successful bidder shall bear the entire charges/fees payable for conveyance such as stamp duty, registration fee etc as applicable as per law.
2. No encumbrance or charge in respect of the properties have come to the notice of the Bank. 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 property.
3. The Authorised officer has the absolute right to accept or reject all or any bid including the highest bid or adjourn/postpone the sale without assigning any reason. The decision of the Authorised Officer/Bank shall be final.
4. The buyer should satisfy himself/ herself / itself as to the title, extent, ownership, statutory approval etc., in respect of the property concerned before participating in the auction.
5. If any of the dates mentioned above happen to be a holiday/harthal/protest called by any political parties/association/ groups which adversely affects the functioning of the Bank / M/s e-ProcurementTechnologies Pvt Limited (Auction tiger), the very next Bank working day may be considered for that event and related events including the date of auction/sale.
6. The property is put for sale subject to the provisions under the above Act / Rules and other prevailing laws.

Dated this the 4th day of May 2024 at Ernakulam

For The Federal Bank Ltd.,

Pradeep G

Vice President & Division Head (Authorized Officer under SARFAESI Act)

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email:[e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in