Federal Bank : Sale Notice - Elegant Wood industries

TVMLCRD/NPA-2466/

/2024

13.05.2024

(REGD 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 13/07/2021 calling upon the borrowers (1) Nimisha Madhav. S, III/597, Karayalathukonam, Vattapara, Trivandrum-695028// Sreekrishna Kripa, Pachakkad, Vengode PO, Vattappara, Trivandrum-695028(2) Sreekumar M, Sreekrishna Kripa, Pachakkad, Vengode PO, Vattappara , Trivandrum-695028(3) Sajitha S, Sreekrishna Kripa, Pachakkad, Vengode PO, Vattapara, Trivandrum-695028 to repay the amount mentioned in the notice being (a) ₹ 19,66,589/- as on 30.06.2021 in Term Loan 17456900000105(from 1st and 2nd among you) (b) ₹ 4,34,809.03 as on 14.06.2021 in Federal Prathyasa Loan 17456600000173(from 2nd and 3rd among you) (c) ₹ 11,79,527.21 as on 30.06.2021 in Cash Credit Limit 17455500002057(from 1st and 2nd among you) together with interest and costs thereon 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 09/12/2021 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers as contemplated under the said Act and Rules. Thereafter actual possession was taken/affected on 06/03/2023 in compliance of the order of Hon'ble Chief Judicial Magistrate Court, Thiruvananthapuram in MC 34/2023 and the property is now in possession with the branch.

The undersigned hereby give notice to the borrower(s) and/or guarantor(s) and / or defaulters and general public that Bank has decided to sell on 20/06/2024 the properties described herein below on "AS IS WHERE IS BASIS" AS IS WHAT IS BASIS" AND "AS IS WHATEVER BASIS" under Rules 8&9 of said Rules for realizing total dues of ₹ 53,10,218.67 (Rupees Fifty Three Lakh Ten Thousand Two Hundred Eighteen and paise Sixty Seven only )[(a) ₹ 28,71,658.70 in Term Loan A/c 17456900000105 (b) ₹ 6,58,710.23 in Federal Prathyasa Loan A/c 17456600000173 (c) ₹ 17,79,849.74 in CC Limit A/c 17455500002057 ] as on the date of sale (i.e.; 20.06.2024) till realization and further expenses, costs and thus the undersigned hereby invites from interested parties the sealed tenders for purchasing the below property subject to the terms and conditions mentioned hereunder.

While we call upon you to discharge your liability as above by payment of the entire dues to the Bank together with applicable interest, all costs, charges and expenses incurred by the bank till repayment and redeem the secured asset, within the period mentioned above, Please take important note that as per section 13(8) of the SARFAESI Act 2002, (as amended), the right of redemption of secured asset will be available to you only till the date of publication of notice for publication or inviting tenders from public or private treaty for transfer by way of lease, assignment or sale of the secured asset.

The Federal Bank Ltd, LCRD/Thiruvananthapuram Division, 4th Floor, Federal Towers, Statue, Thiruvananthapuram, Kerala - 695001

E-mail:[e-mail]| CIN: L65191KL1931PLC000368| Phone: [phone]

Sl		Reserve	price below
Security Property Details	which	property will
No.
	not be sold
	All that piece and parcel of landed property measuring 4.86 Ares
	together with building existing and/or along with all other
	improvements thereon comprised in Re-Sy. No.136/12-1 in block no	₹		37,49,000.00
	33 of Vattappara Village, Nedumangadu Taluk, Thiruvananthapuram
	District, Kerala State, within the registration sub district of Pattom	(Rupees	Thirty-
1.	bounded (boundaries as per Title Deed) on East by Side Road, West	Seven	Lakhs Forty-
	by property of Visruthan, North by property of Suresh, South by	Nine		Thousand
	property of Venugopalan Nair and (Boundaries as per location	only)
	sketch), East by property of Manoj, West by Road, North by Property
	of Hari and South by property of Joy.

Terms and Conditions

1. The property described above will be sold on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis.
2. The reserve price below which the security property will not be sold is ₹ 37,49,000.00
   (Rupees Thirty-Seven Lakhs Forty-Nine Thousand only).
3. The EMD shall be remitted through NEFT/RTGS to The Federal Bank Ltd, to the
   Account No. 17450051030003, IFSC CODE: FDRL0001745 or Account No:
   21460051030001, IFSC CODE: FDRL0002146, or by way of Demand Draft (DD) favoring 'Authorized Officer, The Federal Bank Ltd.' payable at
   Thiruvananthapuram.

1. 1. The intending purchasers shall submit/send to the undersigned their tender quoting the price offered by them in a sealed cover along with the details of EMD remitted by way of RTGS/NEFT/ Demand Draft for property is ₹ 3,74,900/-, being earnest money equivalent to 10 % of the Reserve Price of the properties concerned, which is refundable if the tender is not accepted.
2. Tenders which are not duly sealed and are not accompanied by Demand Draft as afore stated will be summarily rejected.
3. The sealed covers containing the tender along with details of remittance shall reach the undersigned on or before 5 PM on 19.06.2024. The auction will be conducted between 11.00 AM to 12.00 PM on 20.06.2024.

The Federal Bank Ltd, LCRD/Thiruvananthapuram Division, 4th Floor, Federal Towers, Statue, Thiruvananthapuram, Kerala - 695001

E-mail:[e-mail]| CIN: L65191KL1931PLC000368| Phone: [phone]

1. The intending purchasers shall be present before LCRD/Thiruvananthapuram Division, 4th Floor, Federal Towers, M G Road, Thiruvananthapuram - 695001 (Ph: 0471 2322229, 2780625) on 20.06.2024 at 10.30 AM when the tenders will be opened. In case the proposed sale/auction date is declared holiday for normal functioning of Bank, the sale will be conducted by next working day at same time. The sale will be conducted in the said office.
2. 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.
3. The successful bidder shall deposit 25% of the bid amount / sale price inclusive of the EMD (Earnest Money Deposit) 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.
4. All payments shall be made by way of RTGS/NEFT in the above-mentioned account OR by Demand Draft drawn in favor of The Federal Bank Ltd. payable at Thiruvananthapuram.
5. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
6. 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 Government or anybody in respect of the property under sale. The society charges, Electricity charges, Water charges and the other encumbrances, if any should be borne and cleared by the purchaser of the property.
7. The borrower / co-borrowers/co-obligants named above shall treat this as notice of 30 days as stipulated in Rule 8(6) read with rule 9 of the said Rules and pay the secured debt in full to avoid sale of the secured property.
8. The tenders offering price below the Reserve Price mentioned above will be rejected.
9. The Authorized Officer has the absolute right to accept or reject the bid/ all or any tender including the highest tender or adjourns / postpones the sale without assigning any reason. The decision of the Authorized Officer/Bank shall be final.
10. The balance amount of purchase price payable shall be paid by the purchaser to the authorized officer on or before the fifteenth day of confirmation of sale of the immovable property or such extended period as may be agreed upon in writing between the purchaser and the secured Creditor as stipulated under Rule 9(4) of the Security Interest (Enforcement) (Amendment) Rules, 2002
11. The intending purchasers can inspect the property between 10.00 AM and 05.00 PM on 19.06.2024. The intending purchasers who wish to inspect the property and / or to know further details / conditions may contact this office. (Ph: 0471-2322229,2780615 8547720840)
12. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extent etc. of the property, before participation in the auction.

The Federal Bank Ltd, LCRD/Thiruvananthapuram Division, 4th Floor, Federal Towers, Statue, Thiruvananthapuram, Kerala - 695001

E-mail:[e-mail]| CIN: L65191KL1931PLC000368| Phone: [phone]

Dated this the 13th day of May 2024

For The Federal Bank Ltd

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

The Federal Bank Ltd, LCRD/Thiruvananthapuram Division, 4th Floor, Federal Towers, Statue, Thiruvananthapuram, Kerala - 695001

E-mail:[e-mail]| CIN: L65191KL1931PLC000368| Phone: [phone]