BANK OF INDIA
(A GOVT.OF INDIA UNDERTAKING)
ZONAL OFFICE : SURYA KIRAN COMPLEX, THE MALL,
LUDHIANA 141 002. Phone : 0161-2424202, 2408161 (Fax)
Properties Sale Notice ( By Sealed quotations)
Public at large is informed that AUCTION in the under mentioned accounts for recovery of amount outstanding due to the
bank shall be held on the dates mentioned below on the terms & conditions specified hereunder on AS IS WHERE IS BASIS
under the provisions of Securitisation Act (SARFAESI ACT) and rules made there in. Therefore, sealed quotations are invited for
sale of under mentioned immovable & movable assets, which are held as securities in respect of secured debts due from the
borrowers as detailed below :-
Name of the Name of the account Owner of Description of the Property Amount Reserve Date, Time &
Branch & the Property Recoverabl Price & Place of
Phone No. e in LACS EMD in opening
LACS sealed
quotations
Bharat Nagar Mr.Mangat Rai Gupta, Mr.Mangat Indica Car GVE E-III, Rs.02.56 Rs.00.70 15.11.11
Chowk, H.No.73, Dev Nagar, Rai Gupta M.White, Petrol Engine, lacs + EMD 4.30 P.M.
Ludhiana St.No.2, Near J.Block, Model December, 2006 Rs.0.04 At Branch
0161-2402084 Rishi Nagar, Ludhiana No.PB-10CB-9173 Intt. Premises
Khanna, Distt. M.S.Garments Mr.Manoj Mortgage of a property Rs.09.38 Rs.29.71 02.12.11
Ludhiana SCF 26-27 Kumar and situated at 64, Ward No.XI, lacs + Intt. EMD 4.30 P.M.
01628-237796 G.T.B. Market, Mr.Indrasan Subhash Bazar, Khanna Rs.1.49 At Branch
Khanna Kumar SS/o measuring 199.05 sq. yards in Premises
Prop. Ranju Verma Shri Ram the name of Mr.Manoj Kumar
Rattan and Mr.Indrasan Kumar
(guarantors).
Machhiwara, M/s Satish Traders, Mrs.Komal A property measuring 01K- Rs.13.51 Rs.17.80 02.12.11
Distt. Prop. Satish Kumar, Goal W/o 0M having 1/8 share of land lacs + Intt. EMD 4.30 P.M.
Ludhiana 1569, Beri Mohalla, Mr.Satish measuring 8K-0M comprised Rs.0.89 At Branch
01628-250018, Machhiwara Kumar in khewat No.606, Khatauni Premises
250053 No.735, Rect.No.110, Killa
No.20/2/1(4-1), 20/2/1 (0-8)
21/1 (3-11) Jamabandi 1991-2,
H.No.75, Vakia Machhiwara-
II, Distt. Ludhiana
TERMS & CONDITIONS
1. Offers are invited in sealed cover by the undersigned from the intending buyers for purchase of the above movable and immovable
properties. The sealed cover should be super scribed with “Offer for purchase of immovable property/car with description and branch
name”. The interested buyers may send their offers (with name, full address, telephone Nos. etc.) in a sealed cover alongwith demand
draft/pay order in favour of Bank of India, payable at branch/city to which account relates towards earnest money (EMD) as mentioned
above to, Authorised Officer, Bank of India of respective branch, on or before the date/time mentioned against each account. The demand
draft/pay order deposited towards the earnest money shall be returned to the unsuccessful bidders immediately after sale. The earnest
money shall not carry any interest.
2. The bids shall be opened in presence of bidders attending the auction sale. Tender without requisite amount of earnest money in the
required form shall be summarily rejected. The property will be sold to the highest bidder. However, the Authorised reserve the absolute
discretion to allow inter se bidding if deemed necessary among the bidders present, which will take place at the place, date and time of
opening of tenders as mentioned in this notice. The amount by which the bidding is to be increased shall be determined by the Authorised
Officer conducting the sale. Any bidder interested to increase his offer should remain present on the said date. Failure to remain present
will debar the bidders to increase their offer subsequently after completion of auction sale.
3. In no eventuality, the property/car would be sold below the reserve price indicated above.
4. The Authorised Officer is empowered to call from the prospective buyers proof to his/her satisfaction of their having funds to deposit
25% of the sale amount.
5. The successful bidder will be required to immediately pay/deposit 25% (Twenty five percent) of the purchase price, after adjusting the
earnest money deposited, with the Authorised Officer upon receipt of said amount, the bank will confirm acceptance of the bid. In the
event the highest bidder fails to tender 25% of the bid amount immediately, then the earnest money deposited by the highest bidder will
be forfeited. The balance amount (75%) of the purchase price shall be paid by the purchaser to the undersigned on or before the 15th day
of confirmation of the sale of the said property. In default of payment within the time as mentioned above, the bank shall be at liberty to
forfeit all claims to the property or to any part of the sum which may be fetched subsequently on sale.
6. On receipt of the sale price in full, the Authorised Officer shall be issuing a sale certificate in favour of the purchaser.
7. All expenses related to stamp duty registration charges, transfer charges and any other charges in respect of the above referred property
shall be borne by the purchaser/s.
8. The Authorised Officer reserves the right to accept or reject any of or all the offers or adjourn/postpone the sale without assigning any
reasons thereof. The Authorised Officer will notify other terms and conditions, if any, at the time of opening tenders.
9. No person other than bidder or Authorised representative shall be allowed to participate in the sale proceedings.
10. The proposed bidder shall be required to give his/her identity proof such as copy of passport, election commission card, ration card,
driving licence or any other identity proof to the satisfaction of the undersigned at the venue of auction.
NOTE:- The inspection of properties to be sold can be made on any working day by fixing time in consultation with the branch Manager
of concerned branch of Bank of India. For more details also please contact branch Manager of respective branch.
30 DAYS NOTICE TO THE BORROWERS/GUARANTOR/MORTGAGOR/S
The above mentioned borrower/guarantor/mortgagors are hereby noticed to pay the sum as mentioned in section 13(2) of notice before the
date of auction and get the property redeemed failing which the property will be auctioned and balance due, if any will be recovered with
interest from you or you can participate in the auction process to be held on the above specified date, time and place by the bank for
recovering outstanding dues in your account.
Dated : 27.10.11 Authorised Officer- Bank of India
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