UBI Tender
UBI Tender
UBI Tender
Dear Sir/Madam,
Sub: Notice of 15 days for sale of immovable secured assets under Rule 8 of
the Security Interest (Enforcement) Rules, 2002.
1. Corporation Bank, (SCO NO.493-494, Ground Floor, Sector 35-C, Chandigarh, UNION
TERITORY), the secured creditor, caused a demand notice dated (15.01.2018)
under Section 13(2) of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act 2002, calling upon you to pay
the dues within the time stipulated therein. Since you failed to comply with the
said notice within the period stipulated, the Authorised Officer, has taken
possession of the immovable secured assets under Section 13(4) of the Act read
with Rule 8 of Security Interest (Enforcement) Rules, 2002. Possession notice
dated (07.04.2018) issued by the Authorised Officer, as per appendix IV to the
Security Interest (Enforcement)) Rules, 2002 was delivered to you and the same
was also affixed to the properties mortgaged with the Secured Creditor, apart
from publication of the same in newspapers. Please note that you were
informed about your right to redeem the property within the time available
under Section 13(8) of Securitization and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002, which you have failed to
honour.
2. As you have failed to clear the dues of the secured creditor, the immovable
secured assets that have been taken possession by the Authorised officer, will
be sold by holding public E-auction on 26.06.2019 at 11.45 AM to 1.15 PM
by inviting Bids from the public through online on www.bankauctions.in.
3. You are also requested to ensure participation by parties interested in
buying the immovable secured assets in the sale as proposed above.
4. A copy of the terms of sale is enclosed for your reference. Please note that
the Auction will be conducted through E-Auction mode on the date and time
mentioned in the enclosed terms of sale.
Yours faithfully
Place : Chandigarh-CPBB
Date : 04.06.2019 AUTHORISED OFFICER
CORPORATION BANK
Encl: Terms of sale
TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS:
1. Name and address of the 1 M/s Annan tile Co. Rep. by Prop. Mrs. Meena
Borrower and Guarantor Bansal, H No 298, Sector 71, Mohali
…………………………..…… (Borrower)
17. The Authorised Officer may, where the property sold is subject to any
encumbrances, if he thinks fit, allow the purchaser to deposit with him the
money required to discharge the encumbrances and any interest due
thereon together with such additional amount that may be sufficient to
meet the contingencies or further costs, expenses and interest as may be
determined by him.
19. Legal charges for conveyance, stamp duty and registration charges as
applicable will be borne by the successful bidder.
20. The Authorised Officer will deliver the property on the basis of
symbolic/physical possession taken to the purchaser free from
encumbrances, known to the Secured Creditor on deposit of money by the
purchaser towards the discharge of such encumbrances.
21. The certificate of sale will be issued specifically mentioning whether
the purchaser has purchased the immovable/movable secured assets free
from any encumbrances known to the secured creditor or not.
22. The unsuccessful Bidders who have deposited EMD shall be entitled to
have the same refunded without any interest immediately after the
confirmation of sale by the Authorised Officer in favour of successful
bidder.
23. If the Borrower were to pay to the Authorised Officer the entire amount
due, with the up-to-date expenses including the expenses in taking
possession and conducting the sale, to the secured creditor before e-
Auction, the sale by E auction may be cancelled by the Authorised Officer.
24. The above movable/immovable secured assets will be sold in “As is
where is”, “As is What is” and “whatever there is” condition.
25. The intending bidders may, if they choose, after taking prior
appointment from the Authorised Officer, inspect the immovable/movable
secured assets to be sold before the date of E-Auction.
26. The entire sale consideration shall be exclusively available for
appropriation towards dues to the Bank and it is exclusive of
encumbrances of all statutory dues and other dues if any, all of which
have to be paid / settled by the proposed purchaser out of his own
sources.
27.The E-auction will be conducted through portal www.bankauctions.in
on 26.06.2019 from 11.45 AM to 1.15 PM with unlimited extension of 10
Min. The intending bidder is required to register their name at
www.bankauctions.in M/s 4CLOSURE Help Line No. 040-23836405,
+91-8142000067/+91-8142000052/63. Help line e-mail ID:
info@bankauctions.in and get user ID and password free of cost and get
training / on-line training on E-Auction from M/s 4CLOSURE Help Line
No. 040-23836405, +91-8142000067/+91-8142000052/63. Help line
e-mail ID: info@bankauctions.in Mr. Vikas Kumar- +91-8142000809
28.To the best of Information and Knowledge of the Authorised Officer,
there is no encumbrance on the property. However the intending bidders
should make their own independent enquiry regarding the encumbrances,
title of the property put on auction and the claims / rights/ dues affecting
the property, prior to submitting their bid. The E Auction advertisement
does not constitute and will not be deemed to constitute any commitment
or any representation of the Bank to sell the property and the Authorised
Officer has right to cancel the auction without assigning any reason. The
Authorised Officer/ Secured Creditor shall not be responsible in any way
for any third party claims/rights/dues.
Place : Chandigarh-CPBB
Date: 04.06.2019 AUTHORISED OFFICER
CORPORATION BANK