UBI Tender

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CHANDIGARH-35 Branch

CORPORATION BANK, SCO NO.493-494, GROUND FLOOR,


SECTOR 35-C, CHANDIGARH. (UNION TERITORY).

By Regd Post & Courier


To:

1 M/s Annan tile Co. Rep. by Prop. Mrs. Meena Bansal


H No 298, Sector 71, Mohali …………………………..…… (Borrower)

2. Mr. Vishesh Kumar Bansal, H No 298, Sector 71, Mohalli …… (Guarantor)

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)

2. Mr. Vishesh Kumar Bansal, H No 298, Sector


71, Mohalli …… (Guarantor)

2. Name and address of the Corporation Bank,


Secured Creditor : SCO NO.493-494, Ground Follor,
Sector-35-C, Chandigarh. (Union
Teritory)
3. Description of immovable secured assets to be Sold
All that piece and parcel of EMG of Residential flat No. 298 ,HIG, Sector 71,Mohali
registered with the PUDA / GMADA, Mohali. Ground Floor
Bounded as follows:
North: Dwelling Unit No. 300
South: Dwelling Unit No. 296
East: Dwelling Unit No. 277
West: Road
4.The details of NIL
encumbrances, if any known
to the Secured Creditor
5. Last date for submission of On or before 25.06.2019 before 5.00 PM
EMD
6. Date & Time of auction 26.06.2019 at 11.45 AM to 1.15 PM
(with 10 min unlimited auto extensions)
E-auction website-
www.bankauctions.in.

7.The secured debt for the Rs. 1,08,65,591/- as on 15/01/2018


recovery of which the with further interest, cost & expenses
immovable secured asset is to and less recovery
be sold:

8.Reserve price for the Rs. 1,01,00,000/- (Rupees One Crore


properties below which the One Lakh Only)
immovable property may not
be sold:
9.The intending bidder shall deposit with the Authorised Officer an
amount equivalent to 10% of reserve price by way of Earnest Money
Deposit in the account of Authorised Officer, Corporation Bank,
Chandigarh-CPBB Branch, by Demand Draft or NEFT/RTGS or through
Internet payment to account No. (510101003787841) and IFSC Code-
(CORP0000646), simultaneously bidder has to submit the e-bid form
available on www.bankauctions.in website/ before the date and time
mentioned above and shall obtain written receipt thereof from the
branch/Authorised Officer. The intending bidders shall mention the
property Item i.e. “(No 15 Furnish the name of the account or
Mortgagor. If more than one property the same may be described as
Item No___)” for which the EMD has been tendered.
10.Full name and address of the bidder with their identity proof and PAN
card has to be furnished while filling up the e-bid form on M/s
4CLOSURE website. www.bankauctions.in
11. Bank, the Secured Creditor, reserves the right to accept / reject the
highest bid without assigning any reason thereof or to cancel the sale.
12. In case of bidding the same shall not be less than Rs. 1,01,10,000/-
(Rupees One Crore One Lakh Ten Thousand Only) in excess of
highest bid amount or the immediate preceding bid, as the case may be
with multiple increment value of Rs.10,000/-
13. The sale will be confirmed in favour of the highest bidder and the
confirmation of sale shall be subject to the confirmation by the Secured
Creditor. In case of single bid received, the sole bidder shall be declared as
the successful bidder.
13.1 Bids once made shall not be cancelled or withdrawn.
14. The successful bidder so declared by the Authorised Officer shall
deposit 25% of the Sale Price (inclusive of EMD) in
Cash/DD/RTGS/NEFT/Internet transfer /Cheque subject to realisation,
immediately on the sale day or not later than next working day and the
balance 75% of the Sale Price on or before 15th day of confirmation of Sale
or within such extended period as agreed upon in writing not exceeding 3
months.
14.1 In case of failure to participate in the auction by logging into the
online bidding portal or in the event of failure of the successful bidder to
tender 25% (15%+EMD), of the sale price as per the terms of Sale, the
EMD deposited by him shall be forfeited to secured creditor and the bid
accepted shall stand cancelled automatically.
15. In default of payment of balance amount of purchase price before 15
days from the date of confirmation of sale by the Secured Creditor or such
extended period as may be mutually agreed upon between the parties (not
exceeding 3 months) the deposit of 25% of the amount of sale price made
shall be forfeited and the property shall forthwith be sold again and the
defaulting purchaser shall forfeit all claim on the property or to any part of
the sum for which it may be subsequently sold.
16. On confirmation of sale by the secured creditor and if the terms of
payment have been complied with by the successful tenderer / bidder, the
Authorised Officer shall issue a certificate of sale of immovable property in
favour of the purchaser in Appendix-V to the Security Interest
(Enforcement) Rules, 2002.

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.

18. On such deposit of money for discharge of encumbrances, the


Authorised Officer may issue or cause the purchaser to issue the notices
to the persons interested in or entitled to the money deposited with him
and take steps to make the payment accordingly.

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

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