1 Name and address of the Borrower; AS PER THE PUBLISHED LIST
2. Name and address of Branch, the secured creditor ASHOKNAGAR CO-OPERATIVE BANK LTD., H.O Branch, No.1380/B, 6th Cross, Ashoknagar, BSK I stage, 2nd Block, BANGALORE-560 050.
3. Description of the Immovable secured assets to be sold. AS IN THE PUBLISHED LIST
4. Details of the encumbrances known to the secured creditor. Not known.
5. The secured debt for recovery of which the properties is to be AS IN THE PUBLISHED LIST Plus(+) Further interest, cost, charges & other expenses etc.
6. Deposit of earnest money (EMD) : AS IN THE PUBLISHED LIST, being the 10% of Reserve Price to be remitted by BIDDER, RTGS/ NEFT to the secured creditor bank account.
7. Reserve price of the Immovable secured assets: Bank account in which EMD to be remitted. Last Date and Time within which EMD to be remitted: Reserve Price: AS IN THE PUBLISHED LIST.
(Bidder / Purchaser to register on e auction portal Website:-https://bankauctions.in & www.foreclosureindia.com Contact M/s Foreclosureindia.com. Mr.Bhaskar Naidu, Mob.No +91 8142000809 / 95151-60061 using his mobile number and email Id .KYC verification will be done, bidder to upload requisite KYC documents, which will be verified by foreclosureindia.com, may take 02 working days) It is advisable to the perspective bidders to start their registration and EMD remitting process well within the time so that the bidding registration and deposit of EMD process is completed well in time.8. Time and manner of payment;- The successful bidder shall deposit 25% of sale price, after adjusting the EMD already paid, immediately, i.e. on the same day or not later than next working day, as the case may be, after the acceptance of the offer by the Authorised Officer, failing which the earnest money deposited by the bidder shall be forfeited. The Balance 75% of the sale price is payable on or before the 15th day of confirmation of sale of the secured asset or such extended period as may be agreed upon in writing between the Secured Creditor and the auction purchaser not exceeding three months from the date of auction. In case of failure to deposit the amount as mentioned above within the stipulated time, the amount deposited by successful bidder will be forfeited to the Bank and Authorized Officer shall have the liberty conduct a fresh auction/ sale of the property & the defaulting bidder shall not have any claim over the forfeited amount and the property.
9. Time and place of public auction or time after which sale by any other mode shall be completed. Online e-auction on date published From time to time (With unlimited extensions of 10 min. each)
10. The e-auction will be conducted through the Bank’s approved service provider. E-auction tender documents containing e auction bid form, declaration etc., are available in the website of the service provider as mentioned above Platform (https://bankauctions.in & www.foreclosureindia.com ) for e-Auction will be provided by Bank’s e Auction service provider M/s 4 closure, having its Registered office at 605A, Maitrivanam, commercial complex, Ameerpet, Hyderabad -500038. The intending Bidders/Purchasers are required to participate in the e-Auction process at e-Auction Service Provider’s website (https://bankauctions.in & www.foreclosureindia.com ) The Sale Notice containing the Terms and Conditions of Sale is uploaded in the Banks websites/webpage portal. https://ashoknagarbank.com / auction-notices. The intending participants of e- auction may download free of cost, copies of Terms & Conditions of e-auction, Help Manual on operational part of e-Auction.
11. (i) Bid increment amount: (ii) Auto extension: _10 min. times.(limited/ unlimited) (iii) Bid currency & unit of measurement
(i) Rs. Rs.20,000/= (ii) 10 minute each. (iii) Indian Rupees (INR)
12. Date and Time during which inspection of the immovable secured assets to be sold and intending bidders should satisfy themselves about the assets and their specification. Contact person with mobile Number Date: as in the list Time:11.00 AM to 04.00 PM Name: (1) Bhaskar Naidu S MobileNo.8142000809 /95151-60061 Email address: : bhaskar@bankauction.in
13. Other conditions;-
(a) Bidders shall hold a valid email ID (e -mail ID is absolutely necessary for the intending bidder as all the relevant information and allotment of ID and Pass word by M/s www.foreclosureindia.com (vendor name) may be conveyed through e mail.
(b) The intending purchaser(s) / bidder(s) is / are required to login in the link provided in website: https:// www.foreclosureindia.com/auctions/ bengaluru/ id number /
(c) The Sale will be conducted by the undersigned through e-auction platform provided by the e-Auction service provider www.foreclosureindia.com at the Website https://bankauctions.in on the date and time mentioned above. The intending Bidders/ Purchasers are requested to register on portal https://www. www.foreclosureindia.com (direct link (https://bankauctions.in & www.foreclosureindia.com ) using their mobile number and email-id. Further, they are requested to upload requisite KYC documents. Once the KYC documents are verified by e-auction service provider (may take 2 working days), the intending Bidders/Purchasers have to transfer the EMD amount using online mode in his EMD Wallet well in advance before the auction time. Bidder registration, submission & verification of KYC documents and transfer of EMD in wallet must be completed well in advance at least two days before auction date. In case auction purchaser submits the KYC documents within two days preceding the Auction date, Authorized officer / Bank / e-Auction service provider is having liberty to accept and complete the KYC verification & EMD amount. However in such event the Authorized officer / Bank / e-Auction service provider will not be held liable for any delay/failure for verification of KYC documents and failure to transfer EMD in wallet. The interested bidder will be able to bid on the date of e-auction only if the Bidder have sufficient balance (>=EMD amount) as on the date and time of Auction. Bidders may give offers either for one or more properties. In case of offers for more than one property bidders will have to deposit EMD for each property.
(d) Earnest Money Deposit (EMD) amount as mentioned above shall be paid online i.e. through NEFT after generation of Challan from https://bankauctions.in in bidders. NEFT Challan will be valid for one transaction only. If multiple transactions are made, only first will be reconciled and other transaction(s) shall not be considered. NEFT transfer can be done from any Scheduled Commercial Bank. Only NEFT mode should be used for fund transfer. Use of any other payment mode would result in non-credit of EMD amount in the bidder's wallet. Payment of EMD by any other mode such as Cheques will not be accepted. The Earnest Money Deposited shall not bear any interest. For refund of EMD of the unsuccessful bidders, Bidder has to seek the refund online from e-Auction service provider by logging in https://bankauctions.in and by following procedure for refund given therein and only after seeking refund online, the refund will be made by the e-Auction service provider. EMD amount of the unsuccessful bidders will be returned without interest.
(e) The bid price to be submitted shall be equivalent or above the reserve price and during the e-auction, bidders will be allowed to offer higher bid in inter-se bidding over and above the last bid quoted and by minimum increase in the bid amount given in the table to the last higher bid of the bidders. The property will not be sold below the Reserve price set by the Authorized Officer. The bid quoted below the reserve price shall be rejected. The bidders shall increase their bids in multiplies of the amount specified in the public sale notice/Terms and condition of Sale. Unlimited extension of 10 Minutes time will be given in case of receipt of bid in last ten minutes. Ten minutes time will be allowed to bidders to quote successive higher bid and if no higher bid is offered by any bidder after the expiry of ten minutes to the last highest bid, the e-auction shall be closed.
(f) Intending Bidders are advised to properly read the Sale Notice, Terms & conditions of e-auction, Help Manual on operational part of e-Auction and follow them strictly.
(g) In case of any difficulty or assistance is required before or during e-Auction process they may contact authorized representative of our e-Auction Service Provider https://bankauctions.in (direct link https://bankauctions.in contact details of which are available on the e-Auction portal.
(h) The successful bidder shall be required to submit the final prices, quoted during the e-auction as per the annexure after the completion of the auction, duly signed and stamped as token of acceptance without any new condition other than those already agreed to before start of auction.
(i) During e-auction, if no bid is received within the specified time, Ashoknagar co-operative bank Ltd., at its discretion may decide to revise opening price/ scrap the e-auction process/ proceed with conventional mode of tendering.
(j) The Bank/ service provider for e-auction shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the causes.
(k) The bidders are required to submit acceptance of the terms & conditions and modalities of e-auction adopted by the service provider before participating in the e-auction. The bid once submitted by the bidder, cannot be cancelled /withdrawn and the bidder shall be bound to buy the property at the final bid price. The failure on the part of bidder to comply with any of the terms and conditions of e- auction, mentioned herein will result in forfeiture of the amount paid by the defaulting bidder.
(l) Decision of the Authorised Officer regarding declaration of successful bidder shall be final and binding on all the bidders.
(m) The Authorised Officer shall be at liberty to cancel the e-auction process/tender at any time, before declaring the successful bidder, without assigning any reason.
(n) The bid submitted without the EMD shall be summarily rejected. The property shall not be sold below the reserve price.
(o) The conditional bids may be treated as invalid. Please note that after submission of the bid/s, no correspondences regarding any change in the bid shall be entertained.
(p) The Authorised Officer is not bound to accept the highest offer and the Authorised officer has absolute right to accept or reject any or all offer(s) or adjourn/postpone/cancel the auction without assigning any reason thereof. The sale is subject to confirmation by the secured creditor.
(q) In case of forfeiture of the amount deposited by the defaulting bidder, he shall neither have claim on the property nor on any part of the sum for which may it be subsequently sold.
(r) Payment of sale consideration by the successful bidder to the Bank will be subject to TDS under Section 194-1A of Income Tax Act 1961 and TDS is to be made by the successful bidder only at the time of deposit of remaining 75% of the bid amount. The successful Auction Purchaser / Bidder shall have to pay applicable GST to Bank on the bid amount.
(s) The successful bidder shall bear all the necessary expenses like applicable stamp duties/additional stamp duty/transfer charges, Registration expenses, fees etc. for transfer of the property in his/her name.
(t) The payment of all statutory / non- statutory dues, taxes, rates, assessments, charges, fees etc., owing to anybody shall be the sole responsibility of successful bidder only.
(u) In case of any dispute arises as to the validity of the bid (s), amount of bid, EMD or as to the eligibility of the bidder, authority of the person representing the bidder, the interpretation and decision of the Authorised Officer shall be final. In such an eventuality, the Bank shall in its sole discretion be entitled to call of the sale and put the property to sale once again on any date and at such time as may be decided by the Bank. For any kind of dispute, bidders are required to contact the concerned Authorised officer of the concerned bank branch only.
(v) The sale certificate shall be issued after receipt of entire sale consideration and confirmation of sale by secured creditor. The sale certificate shall be issued in the name of the successful bidder. No request for change of name in the sale certificate other than the person who submitted the bid/participated in the auction will be entertained.
(w) The property is being sold on “As is where is”, “As is what is” and “Whatever there is” basis and the intending bidders should make their own discreet independent inquiries & verify the concerned Registrar/SRO/Revenue Records/ other Statutory authorities regarding the encumbrances and claims/rights/dues/ charges of any authority such as Sales Tax, Excise/GST/Income Tax besides the Bank’s charge and shall satisfy themselves regarding the, title nature, description, extent, quality, quantity, condition, encumbrance, lien, charge, statutory dues, etc. over the property before submitting their bids. The e-auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of the bank. The Authorised Officer/ Secured Creditor shall not be responsible in any way for any third party encumbrances/ claims/rights / dues. No claim of whatsoever nature regarding the property put for sale charges/encumbrances over the property or on any other matter etc., will be entertained after submission of the online bid.
(x) The details of the property shown above are as per the record available with the bank, the auction bidder should satisfy himself about the actual measuring and position of the property. The actual measuring and position of the property may differ and the authorized officer will not be held responsible for that.
(y) The intending bidders should make their own independent inquiries regarding the encumbrance, demarcation, boundaries, title of property & to inspect & satisfy themselves. Bank will not be responsible for any encumbrances and dues on the property which comes to knowledge of bank after the auction date.
(z) The sale is subject to conditions/Rules/Provisions prescribed in the SARFAESI Act 2002 and Security Interest (Enforcement) Rules, 2002 Rules framed there under and the conditions mentioned above. For more details if any prospective bidders may contact the Authorized officer on Tel.: 080-2650-6213, 26600513, 26600514, Mob.91085-10082 during bank working hours.
Authorised officer Place: ASHOKNAGAR CO-OPERATIVE BANK LTD., H.O Branch, No.1380/B, 6th Cross, Ashoknagar, BSK I stage, 2nd Block, BANGALORE-560 050. Earnest Money deposits (EMD) amount as published in notice & EMD shall be deposited on or before due date, through online payments like RTGS/ NEFT to the Account number details, which are given below or by way of DD in favour of The Ashokanagar Co-operative Bank Ltd., Bank Name & Account Details for Remitting EMD. BENEFICIARY NAME: ASHOKANAGAR CO-OPERATIVE BANK LTD. A/C NO.558010200000842, IFSC:-UTIB0000558. BANK : AXIS BANK , BRANCH : CHAMARAJPETE. Bangalore-18. Please forward the payment details with UTR number to bank e-mail; ho@ashoknagarbank.com