Federal Bank : Sale Notice - George M Philip

KTMB/SKKS/SEPF 1658/ 2023

30.08.2023

Regd / Speed Post with A/D

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 Ltd. under the Act issued a demand notice dated 19.10.2019 calling upon the borrowers

1. Mr. George M Philip S/o M P Philipose (late), residing at Muttumtharapadickal house, Parampuzha P O, Kottayam, Pin-686004.
2. Mr. Allen George Philip S/o George M Philip , residing at Muttumtharapadickal house , Parampuzha P O, Kottayam, Pin-686004.

3.Mrs. Anitha Jacob, W/o T C Jacob, now residing at Thadikulngara House, Mekkadu P O Athani Kara, Aluva East village , Ernakulam District, Pin-683589

4 Mrs. Usha Jacob, D/o M P Philipose (late) ,Muttumtharapadickal house, Parampuzha P O, Kottayam, Pin-686004.

Overseas address : 29 Barrymore BLVD, Franklin square, New York 11010, USA Represented by power of attorney holder, Mrs. Anitha Jacob, W/o T C Jacob, now residing at Thadikulngara House, Mekkadu P O Athani Kara, Aluva East village , Ernakulam District, Pin-683589

to pay the amount mentioned in the notice being Rs. 3,54,70,166/- (Rupees Three crore Fiftyfour lakhs

Seventy thousand One hundred and Sixtysix only) as on 19.10.2019 with further interest @ 15.20% (inclusive of penal interest @ 2%) per annum with monthly rests plus cost and other expenses 20/10/2019 till date of payment being the amount due under the loan availed of by them from our Br. Kalathipady within 60 days from the date of receipt of the said notice.

Whereas the borrower(s) / coobligant(s) / guarantors (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 06.10.2021 by issuing a notice to the borrowers/defaulters and general public and publication thereof in news papers as contemplated under the said Act and Rules.

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 05th October, 2023, the property described herein below on under Rules 8 & 9 of the said Rules for realizing the dues of Rs. 5,92,89,448/- (Rupees Five crore Ninetytwo lakhs Eightynine thousand Four hundred and Fourtyeight only) as on 05.10.2023a with future interest from 06.10.2023 till realization on as is where is, whatever there is & what ever it is basis 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 properties/secured assets

1)All that piece and parcel of the landed property measuring 24.60 ares (17.05 ares in Re-Sy. No.67/1 and 7.55 ares in Re-Sy. No. 67/2, in Block 24 ) of land with residential building No.4/44, commercial buildings bearing Nos.4/44F, 4/44G, 4/44H, 4/44I, 4/44J, and 4/45A, 4/45B, 4/45C, 4/45D and 4/45E, Ward no. 4 in Vijayapuram Grama Panchayat, Vijayapuram Village, Kottayam Taluk, Kottayam District, Kerala State and bounded on East By property of Anitha, South by property of Kurian Muttathupadickal, West by private road and North by Eranjal-Thiruvanchoor Road.

2)All that piece and parcel of the landed property measuring 2.83 ares of land (after releasing a portion of land from 19.02 ares of mortgaged land) in Re-Sy. No.67/1/1 in Block No. 24 of Vijayapuram Village, Kottayam Taluk, Kottayam District, Kerala State and bounded on East by Pathway, South by property of Eapen Kurian Muttumthara, West by property of Philipose and North by PWD Road where the secured assets are situating, along with Advocate Commissioner Adv. Kurian George

Terms and Conditions

1. The reserve price below which the properties will not be sold is (Properties will be sold as a single lot as the properties are lying contiguously)

Reserve Price	Earnest Money Deposit (EMD)
Rs. 2,50,00,000/-	Rs. 25,00,000/-

1. The intending purchasers shall submit /send to the undersigned their tender quoting the price offered by them in a sealed cover along with a Demand Draft favoring The Federal Bank Ltd. payable at Kottayam being earnest money equivalent to 10 % of the Reserve Price of the property concerned, which is refundable if the tender is not accepted.
2. Tenders which are not duly sealed and are not accompanied by Demand Draft as afore stated will be summarily rejected.
3. The sealed covers containing tender shall reach the undersigned before 4.30 PM. on 04th October, , 2023.
4. The intending purchasers shall be present before the undersigned at his office on 05th October, 2023 at 12.00 noon when the tenders will be opened.
5. After opening the tender, the intending bidders may be given opportunity at the discretion of the authorized officer to have, interse bidding among themselves to enhance the price.
6. The successful bidder shall deposit 25% of the bid amount / sale price inclusive of the 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 property concerned will be re- sold. The authorized officer reserves his right to modify the terms of payment
7. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Kottayam.
8. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, TDS, Registration fee etc. as applicable as per Law.
9. No encumbrance in respect of the property prior to the mortgage 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. Other encumbrances, if any should be cleared by the purchaser of the property.
10. The tenders offering price below the Reserve Price mentioned above will be rejected.
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 intending purchasers can inspect the properties between 10 AM and 3.00 PM on 04th Oct, 2023. 2.
13. The intending purchasers who wish to know further details / conditions may contact the Authorised Officer at his above address or visit Bank's official website i.e.https://www.federalbank.co.in/web/guest/tender-notices
14. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
15. If any of the dates mentioned above happens to be a Bank holiday, the very next Bank working day will be considered for that particular event and related events.
16. In case of inter se bidding, the minimum bid multiplier amount is fixed as Rs.15,000/-

Kottayam

For The Federal Bank Ltd.

( Authorised Officer under SARFAESI Act).