Federal Bank : Sale Notice - Residential Flat at Sobha Zircon at Bangalore North

LCRD / ERNAKULAM DIVISION

EKMLCRD/SM/KLY/SAR-4028/SaleNotice/2024-'25

E- Auction Sale notice for sale of immovable Assets under the Securitization and Reconstruction of Financial Assets and Enforcement of Interest Act, 2002 read with proviso to Rule 8(6) of the Security Interest (Enforcement) Rules, 2002

Whereas,

The Authorized Officer of the Federal Bank Ltd. under the Act issued a demand notice dated 30-09-2021 calling upon the borrower(s) and / or guarantor (s) and / or defaulters.

1. M/s Nechupadam Constructions Private Limited, Registered Office: No.107, Daffodil Apartments, Garden Estate, Jakkur Plantations, Yelahanka, Bangalore North, Bangalore - 560064, //
   V/451 C, St. Peter's College Trust Building, Church Road, Kolencherry, Ernakulam - 682311
2. Sri Shaju K A, S/o Avarachan, Nechupadam House, Kadayiruppu P O, Kolencherry - 682311
3. Smt Beena Shaju, W/o Shaju K A, Nechupadam House, Kadayiruppu P O, Kolencherry - 682311
4. Smt Mariamma Paul, W/o Paul, Nechupadam House, Kadayiruppu P O, Kolencherry - 682311
5. Smt Saira George, D/o Shaju K A, Nechupadam House, Kadayiruppu P O, Kolencherry - 682311

to repay the amount mentioned in the notice being ₹ 26,00,45,690/- (Rupees Twenty Six Crore Forty Five Thousand Six Hundred and Ninety only) being the amount due under various loans/limits availed by numbers (1) and (2) as principal borrowers along with others above as co obligants/ guarantors, from branch Kolencherry, together with interest and costs and other charges 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 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 21-09-2022 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers as contemplated under the said Act and Rules. Subsequently Actual possession of the property was taken on 22-11-2023.

Whereas since the dues in respect of the account is remaining unpaid, 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 12th June 2024 the properties described herein below on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis under Rules 8 & 9 of the said Rules for realizing the dues of ₹ 40,31,80,581/- (Rupees Forty Crore Thirty One Lakh Eighty Thousand Five Hundred and Eighty One only) as on 22.05.2024 [Dues as per OA filed

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email: [e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in

on 28.12.2023] 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 mortgaged property/ secured asset

Reserve Price ₹ 1,17,00,000/-

All that piece and parcel of residential flat admeasuring 1520.91 Sq.ft. bearing Flat No C2-114 on the 1st Floor of the multi storeyed building namely "M/s Sobha Zircon" together with covered Car parking space bearing No 114 in the basement and 1.09% equivalent to 904.50 Sq.ft. of undivided share in landed property measuring 83200.40 Sq.ft. comprised in Survey No.1B- Block No.10, Survey No 1B-Block No 1, Survey 1A- Block No 21 (presently bearing Byatarayanpura City Municipal Khata No.66/1A/21/1B/10/1B/1) of Jakkur Plantation Village, Yelahanka Hobli, Bangalore North Taluk, Bangalore District, Karnataka State within the Registration Sub District of Yalahanka and bounded on East by remaining portion of Survey No 1B/1 and 1B/10 measuring on that side by 88.78 m., West by remaining portion of Survey No 1A/21 and measuring on that side by 81.69 m., North by Private Property and measuring on that side by 90.97m. and South by remaining portion of Survey No 1A/21 and Private Road.

Terms and Conditions

1. Auction sale/bidding would be only through "online electronic bidding" process through the website https://federalbank.auctiontiger.net
2. The property will be sold on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis for an amount not below the Reserve Price.
3. The RESERVE PRICES and the Earnest Money Deposit (EMD) for property are as mentioned below. The property/s will not be sold below the reserve price.

RESERVE PRICE	EMD
₹ 1,17,00,000/-	₹ 11,70,000/-

1. The Earnest Money Deposit (EMD) for the scheduled property is equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is not accepted.
2. The Bid along with EMD and relevant KYC documents shall be submitted ONLINE/ at any Branch of Federal Bank, latest by 5.00 P.M. on 11-06-2024 If the bid form is submitted by an incorporated company, the person representing such company shall submit / produce the true copy of resolution / authorization from the company.
3. Refer websitehttps://federalbank.auctiontiger.net for more details. Any bids and EMD submitted beyond the date and time referred above will not be entertained.The tenders offering price below the Reserve Price mentioned above will be rejected summarily.
4. The auction will be conducted online from 11:00 AM to 1.00 PM on 12-06-2024, with unlimited extension of 5 minutes each.

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email: [e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in

1. The auction would commence above the reserve price mentioned above. Bidders shall improve their offers in multiples of ₹ 10,000/- (Rupees Ten Thousand only) for property.
2. The intending bidders shall hold a valid e-mail address and register their names at the portal and get their user id and password free of cost from M/s e-Procurement Technologies Pvt Limited (Auction tiger) whereupon they would be allowed to participate in the online e-auction.
3. The prospective bidders may avail online training on e-auction from M/s e- Procurement Technologies Pvt Limited (Auction tiger), Ahmedabad, Helpline No. &

email ID : 9265562818/ 9265562821/ 079-68136842/079-68136842,

[e-mail], and Mr. Ram Sharma - 80000 23297 & email - [e-mail]

1. All payments shall be made in the form of RTGS to The Federal Bank Ltd, Br. LCRD
   Ernakulam Division, Bank Account No. 14350051030003, IFSC: FDRL0001435.
2. The Bank / M/s e-Procurement Technologies Pvt Limited (Auction tiger) shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the cause.
3. The intending purchasers who wish to inspect the properties and / or know further details / conditions may contact the Authorised Officer of the Federal Bank at LCRD/Bangalore Division ([e-mail]) or at [phone].
4. Details of the auction sale, terms and conditions etc. are also available in our website,https://www.federalbank.co.in/web/guest/tender-notices.
5. The intending purchasers can inspect the properties between 12.00 PM and 4.00 PM on any working day upto 07-06-2024
6. The successful bidder of property shall deposit 25% of the bid amount / sale price (inclusive of EMD) immediately i.e. on the same day OR not later than next working day, as the case may be, from the culmination of E-auction /bidding on acceptance of the tender/ offer by the Bank and the balance 75% within 15 days or such further time as permitted by the authorized officer in accordance with law, failing which the entire deposit inclusive of EMD remitted shall be forfeited without any notice and the property will be re-sold.
7. The successful bidder shall bear the entire charges/fees payable for conveyance such as stamp duty, registration fee etc as applicable as per law.
8. No encumbrance or charge in respect of the properties have come to the notice of the Bank. The Bank will not be held responsible for any charge, lien, encumbrance, property tax or any other dues to the Government or anybody in respect of the property under sale. The encumbrances, if any, should be cleared by the purchaser of the property.
9. The Authorised officer has the absolute right to accept or reject all or any bid including the highest bid or adjourn/postpone the sale without assigning any reason. The decision of the Authorised Officer/Bank shall be final.
10. The buyer should satisfy himself/ herself / itself as to the title, extent, ownership, statutory approval etc., in respect of the property concerned before participating in the auction.

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email: [e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in

1. If any of the dates mentioned above happen to be a holiday/harthal/protest called by any political parties/association/ groups which adversely affects the functioning of the Bank / M/s e-ProcurementTechnologies Pvt Limited (Auction tiger), the very next Bank working day may be considered for that event and related events including the date of auction/sale.
2. The property is put for sale subject to the provisions under the above Act / Rules and other prevailing laws.

Dated this the 22nd day of May 2024 at Ernakulam

For The Federal Bank Ltd.,

Pradeep G

Vice President & Division Head (Authorized Officer under SARFAESI Act)

The Federal Bank Limited | Loan Collection & Recovery Division

Federal Towers | Marine Drive, Ernakulam | Kerala, India | PIN 682031 | Email: [e-mail]

Tel [phone] | CIN: L65191KL1931PLC000368 | website: www.federalbank.co.in