Federal Bank : Sale Notice - Karuna and Vijaya Traders

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Loan Collection and Recovery Department- Mavelikkara Division

MVKLCRD/STL/NPA 3026/

/2023

29th December 2023

Registered 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 13/06/2018 calling upon the borrower(s) and / or guarantor (s) and / or defaulters (1) Sri. Sunil K, S/o Karunakara Panicker, 'Karunalayam', S N Puram, Alappuzha - 688582 (Sole Proprietor of M/s Karuna Traders, II/171, S N Puram P O, Cherthala, Alappuzha, (2) Sri. Satheesh M K, S/o Karunakara Panicker, 'Vijayasree Bhavanam', Nagamkulangara, Vayalar P O, Cherthala, Alapuzha - 688536 (sole proprietor of M/s Vijaya Traders, 828/A-1, Ward No. 23, Cherthala, Alappuzha- 688524, (3) Smt. Sandhya Devi, W/o Sunil K, 'Karunalayam', S N Puram, Alappuzha - 688582, (4) Smt. Divya R Panicker, W/o Satheesh M K, 'Vijayasree Bhavanam', Nagamkulangara, Vayalar P O, Cherthala, Alappuzha - 688536, (5) Smt. Suma M Panicker, W/o Renjith P K, 'Karunalayam', S N Puram, Alappuzha - 688582 & (6) Smt. Sudhadevi, W/o Mohitha Panicker, 'Sudhalayam', SL Puram P O, Alappuzha - 688523 to pay the amount mentioned in the notice being ₹ 66,83,175.30 (Rupees Sixty Six Lakh Eighty Three Thousand One Hundred Seventy Five and paise Thirty Only) due in Loan A/c No. 1095550003903 & ₹ 20,87,766.30(Rupees Twenty Lakh Eighty Seven Thousand Seven Hundred Sixty Six and paise Thirty only) due in Loan A/c No. 10955500003911, with further interest and cost 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 properties 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 08/10/2018 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 Federal Bank Ltd, Loan Collection and Recovery Division- Mavelikkara| First Floor| Padinjarethalackal

Cherian Chambers | Puthiyakavu| Mavelikkara|Alappuzha District| Kerala- 690 101 E-mail:

[e-mail]| Phone: [phone]

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The undersigned hereby give notice to the borrower(s) and / or guarantor (s) and / or defaulters and public that the Bank has decided to sell on 07/02/2024 the property described herein below on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" under Rules 8 & 9 of the said Rules for realizing the total dues of ₹ 1,61,27,817.11(Rupees One crore sixty one lakhs twenty seven thousand eight hundred and seventeen and eleven paise only ) due under loan account No. 1095550003903 and ₹. 50,41,720.16 (Rupees Fifty lakhs forty- one thousand seven hundred and twenty and sixteen paise only) due under loan account No. 10955500003911 [as per claim in OA No. 469/2020 filed before DRT/Ernakulam] as on date of sale 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 PROPERTY

LOT NO. 1

All that piece and parcel of land having an total extent of 11.73 Ares comprised of 2.83 Ares in Re Sy No.78/1/3 (Sy No. 246/7A) and 8.90 Ares in Re Sy No. 78/14 (Sy No. 246/7A/2/4), Block No. 32, together with building and all improvements thereon situated in Kanjikuzhy Village, Cherthala Taluk, Alapuzha District, Kerala State and bounded on: boundaries of 2.83 Ares in Re Sy No.78/1/3 - North by Panchayath Tar Road, South by Property of Sunil, East by Property of Kunjan and West by Property of Ponnappan, and more fully described under Sale Deed No. 187/2011 dated 25/01/2011 of Puthanambalam SRO. Boundaries of 8.90 Ares in Re Sy No. 78/14: North by Property of Vallon Kuttan, South: Upakari Property, East: Nilam and West: Nilam and more fully described in Sale Deed No. 188/1990 dated 26/01/1990 of Puthanambalam SRO.

LOT NO. 2

All that piece and parcel of land having an extent of 8.90 Ares together with building and all improvements thereon situated in Re.Sy.No.78/13 (Survey No. 246/7A/2/4), Block No. 32, of Kanjikuzhy Village, Cherthala Taluk, Alapuzha District, Kerala State and bounded on North by Property of Vallon Kuttan, South: Upakari Property, East: Nilam and West: Nilam and more fully described in Sale Deed No. 190/1990 dated 26/01/1990 of Puthanambalam SRO.

The Federal Bank Ltd, Loan Collection and Recovery Division- Mavelikkara| First Floor| Padinjarethalackal

Cherian Chambers | Puthiyakavu| Mavelikkara|Alappuzha District| Kerala- 690 101 E-mail:

[e-mail]| Phone: [phone]

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LOT NO. 3

All that piece and parcel of land having an extent of 11.12 Ares together with building and all improvements thereon situated in Re.Sy.No.19/4 (Old Survey No. 85/7B), Block No. 26, of Thanneermukkam North Village, Cherthala Taluk, Alappuzha District, Kerala State and bounded on North by Property of Prasannan, South by Property of Sreenilayam, Chandrmathi Amma & Sreekumar , East by Thodu and West by Thodu and more fully described in the Settlement Deed No. 599/2013 dated 27/03/2013 of SRO Puthanambalam.

Terms and Conditions

1.	The Lot No. 1 & 2 properties described above will be sold together only and a single tender shall be
	submitted for Lot No 1 & 2 Properties. A separate tender shall be submitted for Lot No. 3 property.
2.	The properties will be sold on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE
	IS" basis and the properties will be sold for an amount above the reserve price of :
	Lot No. 1 & 2	₹ 65,02,000 (Rupees Sixty-five lakh two thousand only)
	Lot No. 3	₹ 16,49,000 (Rupees Sixteen lakh forty-nine thousand only)
3.	The intending purchasers shall submit /send to the undersigned their tender quoting the price offered
	by them (the amount quoted shall be above the reserve price fixed) in separate sealed covers for each
	lot along with a Demand Draft favoring The Federal Bank Ltd. payable at Mavelikkara, the earnest
	money deposit (EMD) equivalent to 10% of the Reserve Price of the properties as mentioned below,

which is refundable if the tender is not accepted. The Demand Draft for EMD shall be sent/ handed over to the undersigned separately along with the envelope containing the tender under acknowledgement. Tenders which are not duly sealed and are not accompanied by Demand Draft as afore stated will be summarily rejected.

Lot No. 1 & 2

• 6,50,200 (EMD Amount)

Lot No. 3

• 1,64,900 (EMD Amount)

1. The sealed covers containing tender shall reach the undersigned latest by 5PM on 06/02/2024
2. The intending purchasers shall be present along with valid photo identity proof before the undersigned at his office on 07/02/2024 at 11.00 AM when the tenders will be opened.

The Federal Bank Ltd, Loan Collection and Recovery Division- Mavelikkara| First Floor| Padinjarethalackal

Cherian Chambers | Puthiyakavu| Mavelikkara|Alappuzha District| Kerala- 690 101 E-mail:

[e-mail]| Phone: [phone]

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1. After opening the tender, the intending bidders may be given an opportunity at the discretion of the authorized officer to have, interse bidding among themselves to enhance the price.
2. 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.
3. All payments shall be made by way of a Demand Draft drawn in favor of The Federal Bank Ltd. payable at Mavelikara or through RTGS/NEFT Account No - 10950051030003, IFSC - FDRL0001095, Federal Bank, Cherthala branch.
4. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
5. No encumbrance in respect of the property 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. Society charges and the other encumbrances, if any should be cleared by the purchaser of the property.
6. The tenders offering price below the Reserve Price mentioned above will be rejected.
7. 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.
8. The intending purchasers can inspect the properties between 2.00 PM and 5.00 PM on 05/02/2024. The intending purchasers who wish to inspect the property and / or know further details / conditions may contact the Authorized Officer at his below address.
9. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
10. If any of the dates mentioned above happen to be a holiday/harthal/protest called by any political

parties, the very next Bank working day will be considered for that event and related events including the date of auction/sale.

For The Federal Bank Ltd.,

Anil Kumar M K

(Authorized Officer under SARFAESI Act)

The Federal Bank Ltd, Loan Collection and Recovery Division- Mavelikkara| First Floor| Padinjarethalackal

Cherian Chambers | Puthiyakavu| Mavelikkara|Alappuzha District| Kerala- 690 101 E-mail:

[e-mail]| Phone: [phone]