Project on Securitisation of Financial Assets and Reconstruction

Document Sample
Project on Securitisation of Financial Assets and Reconstruction Powered By Docstoc
					                             PUBLIC NOTICE - AUCTION CUM SALE OF PROPERTIES
                        Sale of Immovable Assets under the Securitisation and Reconstruction of
                            Financial Assets and Enforcement of Security Interest Act, 2002

        Notice is hereby given to the public that Asset Reconstruction Company (India) Ltd. (Arcil) is a Securitization
        and Reconstruction Company registered with the Reserve Bank of India under the provisions of Securitization
        and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), and
        they have acquired from different Banks various Loan Accounts under S.5 of the SARFAESI Act. Offers are
        invited by the undersigned in sealed cover for purchase of the immovable property on AS IS WHERE IS
        BASIS and AS IS WHAT IS BASIS as per the brief particulars given hereunder. All these properties had been
        offered as security with respect to the Loan Accounts of the respective Borrower(s) maintained with ICICI
        Bank. The said Loan Accounts now stand assigned to Arcil, in its capacity of the Trustee of the Trust(s) as
        indicated in Column No. E, under the provisions of SARFAESI Act. The properties are to be sold for recovery
        of the outstanding dues against the Loan Account as mentioned in Column No. B.

Sr.No      LOAN          Borrow       Secured Property          TRUST     EARNE     RESERVE      DATE OF     DATE &
          ACCOUNT          ers            Address                            ST     D PRICE      INSPECTI    TIME OF
            NO.          Name                                             MONE      (IN RS.)       ON        AUCTIO
                                                                              Y                                 N
                                                                           IT (IN
 A         B                C                  D                  E           F         G            H            I
     1 LBPUN00000           Mr.         Flat No.411 on 4th      ARCIL      64000     640000       13 Feb     15 March
         364248          Balasahe      Floor B Wing in the     RETAIL                             2010 &       2010,
                          b More     project "Anjana Co-Op-     LOAN                             28th Feb      10.30
                                     Housing Society”, S.NO    PORTFO                              2010         a.m.
                                           175, Hiss No        LIO 001-
                                        2A(New),Fursungi       A TRUST
                                     Hadpsar,Pune- 411028 ,
                                         Area- 570 Sq. Ft.
 2       LBPTN00000         Mr.      Flat No.7 on 2nd Floor     ARCIL      56000     560000       14 Feb     15 March
           594506         Shriram   in the project "Gulmohar   RETAIL                             2010 &       2010,
                          Ganpat       Complex” Wadgoan         LOAN                             27th Feb      11.15
                           Yadav      Sheri ,Pune- 411041 ,    PORTFO                              2010         a.m.
                                         Area- 400 Sq. Ft.     LIO 001-
                                                               A TRUST
 3        LBINP00001       Mr.        Flat No. 214 Aon 2nd      ARCIL      44100     441000        20 Feb    15 March
            024449        Bhaskar      floor, Sharada Nagar    RETAIL                            2010 & 28     2010,
                          Bhosale   ,Plot No 5, Gat No 502/3    LOAN                              Feb 2010     12.00
                                      ,At Chincholi Taluka     PORTFO                                         Noon.
                                      Daund 413801 , Area-     LIO 001-
                                            525 Sq. Ft.        A TRUST
4    LBSHR00001        Mr.        Row House No. 5- Aon        ARCIL     54000    540000        21 Feb    15 March
       448230        Mallinath   G+ 1 floor, in Wing A in    RETAIL                          2010 & 27     2010,
                     Laxman        the Project “Vaishnavi     LOAN                            Feb 2010     12.45
                     Vanekeri    Park” S.NO 164/1A/1/3/1     PORTFO                                        p.m.
                                 East Side No 7, Akkalkot    LIO 001-
                                  Road Solapur -413004 ,     H TRUST
                                      Area- 581 Sq. Ft.
5    LBSHR00000        Mr.       Flat No. 7 Aon 2nd floor,    ARCIL     46800    468000        28 Feb    15 March
       975004         Mohd.      in Wing A in the Project    RETAIL                          2010 & 07     2010,
                      Iqbal      “Sundar Nagar” C S No.       LOAN                             March     1.30 p.m.
                     Haroon      32/A3/A2, Vijapur Road,     PORTFO                             2010
                     Bagalkot    Solapur -413004 , Area-     LIO 001-
                        e               615 Sq. Ft.          A TRUST

6    LBPUN00000        Ms.        Plot No. 4, On Gat No.      ARCIL     200000   2000000       27 Feb    15 March
       532153        Aparna J.    188, 164 (P)+189 (P),      RETAIL                          2010 & 06     2010,
                     Jamdade     Vill. Muje Jambhul, Tal.     LOAN                             March     2.30 p.m.
                                 Maval, Dist. Pune , Area-   PORTFO                             2010
                                       5380 Sq. Ft.          LIO 001-
                                                             H TRUST
7    LBPUN00000      Pradeep      C-28, 3rd Floor, Rahul      ARCIL     64000    640000        27 Feb    15 March
       375066        Gulabrao    Park, S.No. 42/1 (N), Old   RETAIL                          2010 & 07     2010,
                      Jagtap       S.No. 26/1, Rajguru        LOAN                             March     3.00 p.m.
                                 Nagar, Tal. Khed , Area-    PORTFO                             2010
                                        590 Sq. Ft.          LIO 001-
                                                             A TRUST
8     LBBMT0000      Avinash       Flat No 5, 1St Floor,      ARCIL     43600    436000        20 Feb    15 March
        0692103      Charudat    Yashwant, Nr. Dahigaon      RETAIL                          2010 & 07     2010,
                        ta        Road At Post Natepute       LOAN                             March     4.15 p.m.
                     Bansode       Tal. Malshiras Dist.      PORTFO                             2010
                                   Solapur Pin-413109        LIO 001-
                                       Area-559Sq.           C TRUST

9    LBPUN00000      Bhalchan    Plot No.14 S.No.63 Hissa     ARCIL     48000    480000        21 Feb    15 March
       376151          dra        No.1C&2B~ Khadkale         RETAIL                          2010 & 06     2010,
                     Manohar           Tal.Maval~             LOAN                             March     5.00 p.m.
                      Satav      Dist.Pune412308 , Area-     PORTFO                             2010
                                       4000 Sq. Ft.          LIO 001-
                                                             A TRUST
    Intending Bidders may inspect the properties on the dates mentioned in Column No. I
    (between 10.00 am and 5.00 pm)

    WHEREAS the Authorized Officer of the Secured Creditor (Arcil) has decided to dispose off the said
    properties, this notice of sale is published today that the properties detailed above will be sold on the above
    prescribed date and time at Arms Office, 1st Floor, Flat No 145 &146, Clover Center, 7 Moledina Road,
    Pune – 411001 Tel: - 020 – 66487600. The concerned Borrowers/ Mortgagors in particular and the public in
    general is hereby cautioned and restrained not to deal with the Secured Assets in any manner in terms of
Section 13(13) of the said Act and any dealing with the property will be subject to the charge of secured
creditor against the Loan Account as mentioned in Column No. B. The concerned Borrowers/mortgagors are
given last opportunity to settle the respective Loan Accounts in full, with all interest and charges accrued
therein, till one day prior to the date of auction as indicated above, failing which these properties will be sold
as per above-mentioned schedule.

The particulars in respect of the immovable properties specified hereinabove in Column No. D have been
stated to the best of the information and knowledge of the undersigned, who shall however not be
responsible for any error, misstatement or omission in the said particulars. The Tenderers/ Offerers/
Prospective Bidders/ Purchasers are therefore requested, in their own interest, to satisfy themselves with
regard to the above and other relevant details pertaining to the above mentioned properties before submitting
their bids.
                                      Terms & Conditions of public auction:-
1) Sale is strictly subject to the terms and conditions mentioned hereunder as also the terms and conditioned
mentioned in the offer/ tender document to be submitted by the intending bidders.
2) M/s mjunction services limited have been engaged as auctioneers for proper conduct of the auction. The
properties under auction can be inspected on the date & time specified above. For any queries with regards to
inspection of properties or submission of tenders, kindly contact M/s. mjunction services limited, 403,
Jolly Bhavan 2, 7 New Marine Lines, Mumbai, 400 020, on Phone Nos. (022) 6452 9654, (022)
6452 9686 and also on the following phone nos., Contact Persons – Victor Manikindi – 92237 41649 &
Vishwanath Pandey – 92231 71128.
 3) The offer along with aforesaid earnest money deposit (EMD) as referenced in Column No. F above
 should be submitted in a sealed envelope super scribed as “Offer for purchase of flat/s” so as to reach
 to mjunction services limited, 403, Jolly Bhavan 2, 7 New Marine Lines, Mumbai, 400 020 or
 Arcil Arms Office, 1st Floor, Flat No 145 &146, Clover Center, 7 Moledina Road, Pune – 411001 Tel: -
 020 – 66487600 on or before 12th March, 2010 (up to 3.00 pm).
4) All the payments, including E.M.D., shall be made only by a Demand Draft / Pay Order drawn in
favour of the Trust as mentioned in Column No. E payable at Pune.
5) Offers that are not duly filled up or offers not accompanied by the EMD or Offers received after the above
date and time prescribed herein will not be considered / treated as valid offers, and accordingly shall be
rejected. The Earnest money deposit shall not carry any interest.
6) Along with offer document, the intending bidder shall also attach a copy of the PAN card issued by the
Income Tax department AND his/ her identity proof and the proof of residence such as copy of the Passport,
Election Commission Card, Ration Card, Driving license etc.
7) In no eventuality the property would be sold below the reserve price.
8) Property shall be sold to the highest bidder / offerer, subject to acceptance of the bid by the secured
creditor, i.e., Arcil. However, the undersigned has the absolute discretion to allow inter-se bidding if deemed
necessary, which will take place at the said Place, Date and Time. The undersigned has the discretion to accept
or reject any offer / Tender without assigning any reason.
9) The Auction / Inter Se Bidding will also take place at the same place when the Intending bidder may
remain present and submit their offers directly and revise their offers upwards.
10) All dues and outgoings, i.e., Municipal Taxes, Maintenance / Society Charges, Electricity and water
taxes or any other dues including all overdue in respect of the said properties shall be paid by the successful
11) The successful bidder/purchaser shall have to pay 25% of the purchase amount (after adjusting the
E.M.D. already paid) within 2 working days from the acceptance of the offer by the Authorized Officer in
respect of the sale, failing which, the earnest money deposit will be forfeited.
12) The balance 75% of the Sale price shall have to be paid within 15 days of conveying the confirmation of
the sale to the successful Purchaser by the Authorized Officer or such extended period as agreed upon in
writing by and solely at the discretion of the Authorized officer. In the event of the default in payment of the
balance 75% of the sale price or any part thereof, within the prescribed period, the amount deposited shall be
forfeited and the secured creditor will be at liberty to sell the property once again and the defaulting Purchaser
shall forfeit all claims to the property or to any part of the sum already paid towards the purchase thereof.
13) Sale is subject to confirmation by the Secured Creditor.
14) The immovable property described herein above shall remain and be at the sole risk of the successful
purchaser in all respects including loss or damage by fire or theft or other accidents, and other risk from the
date of the confirmation of the Sale by the undersigned Authorized Officer. The successful bidder shall not be
entitled to annul the sale on any ground of whatsoever nature.
15) All expenses relating to Stamp Duty, Registration Charges, Transfer Charges and any other charges in
respect of the above referred property shall be borne by the successful bidder.
16) The Authorized officer is not bound to accept the highest offer or any or all offers and Arcil, as secured
creditor, reserves its right to reject any or all bid(s) without assigning any reasons. In case, the bids are
rejected, Authorized officer can negotiate with any of the tenderor or intending bidders or other parties for sale
of the property by private treaty.
17) No persons other than the intending bidders / offerer themselves, or their duly Authorized representative
shall be allowed to participate in the auction/sale proceedings.
18) The Authorized officer reserves his right to vary any of the terms and condition of this notice for sale,
without prior notice, at his discretion.
19) In case, all the dues together with all cost, charges and expenses incurred by the Secured Creditor are
tendered by the above name borrower / co-borrower till one day prior to the date of auction then the property
will not be sold and all the bids received from the prospective bidders shall be returned to them without any
liability / claim against Arcil.
20) A bidder may, on his own choice, avail the facility of online participation in the auction by making
application in prescribed format which is available along with the offer/tender document on the website of
mjunction, i.e., Online bidding shall take place at and shall be
subject to the terms and conditions contained in the tender document.
21) The website of mjunction may also be accessed through the website of Arcil which is
                                                                            Authorized Officer
                                                                                 Asset Reconstruction Company
                                                                                     (India) Limited

Description: Project on Securitisation of Financial Assets and Reconstruction document sample