Federal Bank : Auction of Resort at SulthanBathery, Wayanad

Loan Collection & Recovery Department

Kozhikode Division

KKDLCRD/AM/SUB/ SALE/

/2022-23

Date: 23/01/2023

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 08/12/2017 calling upon the borrower(s) and / or guarantor (s) and / or defaulters (1) Kunhali Mohammed Moulavi alias Mohammed Kutty,S/o Kunhali Mukkannan,Mukkannan House,Beenachi (PO),Sulthanbathery,Wayanad District,Kerala State, PIN 673 592 (2) Smt. Haseena K P, W/o Kunhali Mohammed Moulavi alias Mohammed Kutty,S/o Kunhali Mukkannan,Mukkannan House,Beenachi (PO),Sulthanbathery,Wayanad District,Kerala State, PIN 673 592, to pay the amount mentioned in the notice being Rs.1,27,69,684/- (Rupees One crore twenty seven lakhs sixty nine thousand six hundred and eighty four only ), as on 17/11/2017 under Loan Account No.10696900101430 together with interest and costs thereon at such applicable rates, availed of by them from our Br. Sulthanbathery within 60 days from the date of receipt of the said notice.

Whereas the borrower(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 29/06/2018 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers as contemplated under the said Act and Rules.

The undersigned hereby give notice to the borrower(s) and / or defaulters and general public that the Bank has decided to sell on 15th February,2023 the property described herein below on " AS IS WHERE IS BASIS " under Rules 8 & 9 of the said Rules for realizing the dues of Rs.1,61,09,330/52(Rupees One crore sixty one lakhs nine thousand three hundred and thirty and paise fifty two Only) as on 15/02/2023 along with future interest @ 17.08 % per annum from 16/02/2023 till realization under the Loan Account No.10696900101430 and thus the undersigned hereby invites from interested parties the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder.

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• Federal Towers ,Mavoor Road, Arayidathupalam, Kozhikode - 673 016. Phone: [phone] Email [e-mail]/Website: WWW.federalbank.co.in

DESCRIPTION OF THE PROPERTY

1. 0.1335 Hectares of land together with building along with all improvements thereon situated in Re Sy No 533/2 of Sulthanbathery Village,Sulthanbathery Taluk,Wayanad Dist, Kerala State bounded on East by Property in possession of Sreedevi and Ambalakunnu Muncipality Road, South by Ambalakunnu Muncipality Road West by 2nd item property of deed no 313/2016,North by Property in possession of Sunny and Marykutty Job( as per title deed.)
2. 0.1336 Hectares of land together with building along with all improvements thereon situated in Re Sy No 533/2 of Sulthanbathery Village,Sulthanbathery Taluk,Wayanad Dist, Kerala State bounded on East by 1st

item property of deed no 313/2016, South by Ambalakunnu Muncipality Road, West by Mud Road ,North by Property in possession of Sunny and Marykutty Job (as per title deed.)

Terms and Conditions

1. The reserve price below which the property will not be sold is Rs. 1,30,37,000/- ( Rupees One crore thirty lakhs thirty seven thousand only)
2. 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 Kozhikode or through RTGS/NEFT funds transfer to A/c No 10692200000018 IFSC Code FDRL0001069 of Br. Sulthanbethery for Rs 13,03,700/-( Rupees Thirteen lakhs three thousand seven hundred only), being earnest money equivalent to 10 % of the Reserve Price of the property concerned, which is refundable if the tender is not accepted.
3. Tenders which are not duly sealed and are not accompanied by Demand Draft/Proof of RTGS/NEFT as afore stated will be summarily rejected.
4. The sealed covers containing tender shall reach the undersigned before 5 P.M. on 13th
   February,2023.
5. The intending purchasers shall be present before the undersigned at his office at 10AM on 15/02/2023 when the tenders will be opened.
6. 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.
7. 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.
8. The Authorized officer reserves his right to modify the terms and conditions of payment.

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• Federal Towers ,Mavoor Road, Arayidathupalam, Kozhikode - 673 016. Phone: [phone] Email [e-mail]/Website: WWW.federalbank.co.in

1. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Kozhikode/or through RTGS/NEFT funds transfer.
2. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
3. 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.
4. The tenders offering price below the Reserve Price mentioned above will be rejected.
5. 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.
6. The intending purchasers can inspect the property on 13/02/2023 between 10.30 AM to 11.30 AM. The intending purchasers who wish to inspect the property and / or know further details / conditions may contact the Authorised Officer, The Federal Bank Ltd, Federal Towers, LCRD Kozhikode Division, Arayadathupalam, Mavoor Road, Kozhikode-673016,Kerala State, Ph.No.0495-2744523, 2740886, Mob. [phone], [e-mail] visit banks website at www.federalbank.co.in
7. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
8. If any of the dates mentioned above happens to be a Bank holiday the very next Bank working day will be reckoned for that particular event and the next event/events will automatically get adjourned to the next Bank working day.
9. In case of inter se bidding, the minimum bid multiplier amount is fixed as Rs. 1,00,000/-.

Dated this the 23 rd day of January, 2023 .

Place: Kozhikode

For The Federal Bank Ltd.,

Associate Vice President & Division Head. (Authorised Officer under SARFAESI Act).

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• Federal Towers ,Mavoor Road, Arayidathupalam, Kozhikode - 673 016. Phone: [phone] Email [e-mail]/Website: WWW.federalbank.co.in