Federal Bank : Sale Notice - Mr M A Nasser

LCRD / ERNAKULAM DIVISION

EKMLCRD/SKC/SAR 2888/ SALE/

/2023

SPEED POST/AD

NOTICE FOR SALE OF SECURITY PROPERTIES 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 Federal Bank Ltd (hereinafter referred to as 'the Bank') through its Authorised Officer under the Act issued a Demand Notice dated 01.11.2017, calling upon the borrowers namely 1)Sri. M A Nasser, S/o.Sri.Abdul Khader, Manadath House, Desom P.O, Aluva, Ernakulam-683 103, 2) Smt.P.M.Zeenath, W/o.Sri.M.A.Nasser, Manadath House, Desom P.O, Aluva, Ernakulam- 683 103, to repay the amount mentioned in the notice being Rs.1,65,35,252/- (Rupees One Crore Sixty Five Lakhs Thirty Five Thousand Two Hundred and Fifty Two only) being the amount due under the credit facility availed from Ernakulam/M G Road branch (Now transferred to LCRD Ernakulam Division), together with interest and costs and other charges within 60 days from the date of the said notice.

Whereas the borrowers 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 security properties 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 21.06.2018 by issuing notices to the borrowers/defaulters and public, and publication thereof in newspapers as contemplated under the said Act and Rules.

The undersigned being the Authorised Officer of the Bank hereby give notice to the borrowers and general public that the Bank has decided to sell the property described herein below on the 28st day of April, 2023 on "AS IS WHERE IS" "AS IS WHAT IS" and "WHATEVER THERE IS" basis under Rules 8 & 9 of the said Rules for realising the sum of Rs. 3,76,00,390.00(Rupees Three Crore Seventy Six Lakh Three Hundred and Ninety Only) as on 28.04.2023 under the aforesaid credit facility together with further interest, cost and other charges till realization and thus the undersigned being the Authorised Officer of the Bank hereby invites from interested parties, the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder.

Description of Mortgaged Immovable Property

1. All that piece and parcel of land having a total extent of 30.10 Ares (74.378 cents) made up of 53 cents in Survey No.242/3-1 and 21.378 cents in Survey No.242/4-1 together with building no.II/397-D and II/626 of Eloor Panchayath and all improvements thereon comprised in Eloor Village, Paravur Taluk, Ernakulam District, Kerala State and bounded (as per title deed) on the East by River, South by item no.2 of the title deed and remaining property of Combined Foods Private Limited, West by property of Kuchunny Moopan and on the North by Property of Kochunny Moopan.
2. All that piece and parcel of 1/3 undivided share of land (road area) having an extent of 8.42 Ares (20.803 cents) made up of 2.608 cents in Survey No.242/4-1, 2.060 cents in Survey No.242/6 and 16.135 cents in Survey No.242/5 together with all improvements thereon situated in Eloor Village, Paravur Taluk, Ernakulam District, Kerala State and bounded (as per

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

title deed) on the East by property of Combined Foods Private Limited, South by property of Kunju Marakkar and Titus, West by Panchayath Road and on the North by item no.1 of the title deed and remaining property of Combined Foods Private Limited.

Terms and Conditions

1. The properties described above will be sold as single lot and the reserve price below which the properties will not be sold is Rs.2,40,00,000/- (Rupees Two Crore Forty Lakh 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 Ernakulam or by RTGS/NEFT for Rs.24,00,000/- (Rupees Twenty Four Lakh Only) being earnest money deposit (EMD) equivalent to 10% of the Reserve Price of the property, which is refundable if the tender is not accepted. The Demand Draft for EMD shall be sent/ handed over to the undersigned separately along with the envelope containing the tender under acknowledgement.
3. Tenders which are not duly sealed and are not accompanied by Demand Draft/RTGS/NEFT as afore stated will be summarily rejected.
4. The sealed covers containing tender shall reach the undersigned before 10.30 AM on 28.04.2023.
5. The intending purchasers / their authorized representatives shall be present along with valid photo identity proof before the undersigned at his office on 28.04.2023 at 12.30 PM when the tenders will be opened. In case where the tender is submitted by an incorporated Company/Partnership/Association/Trust, the person representing such company/ Partnership/Association/Trust shall produce true copy of resolution/authorization from the company/Partnership/Association/Trust.
6. After opening tenders, the intending bidders may be given opportunities at the discretion of the Authorized Officer to have, inter-se bidding among themselves to enhance the offer price.
7. The successful bidder shall deposit 25% of the bid amount / sale price (inclusive of EMD) immediately on acceptance of his 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 made by him / her / them shall be forfeited without any notice and the property concerned will be re-sold.
8. All payments shall be made in the form of DD drawn in favour of The Federal Bank Ltd. payable at Ernakulam or by way of RTGS/NEFT.
9. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, registration fee etc. as applicable as per law.
10. No prior encumbrance or charge in respect of the property has come to the notice of the Bank.No Court attachment is seen reflected in EC also. 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 properties.
11. The tenders offering price below the reserve price mentioned above will be rejected.
12. The Authorised 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 Authorised Officer/Bank shall be final.

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 intending purchasers can inspect the properties between 11.00 AM and 02.00 PM on 18.04.2023.
2. The intending purchasers who wish to inspect the property and / or know further details / conditions may contact the undersigned in the below address and / or LCRD Ernakulam Division of the Federal Bank Ltd. at 0484-2201805 or at [e-mail]. Details of the auction sale, terms and conditions etc. are also available in Bank's website, https://www.federalbank.co.in/web/guest/tender-notices.
3. The buyer should satisfy himself/ herself / itself as to the title, extent, ownership, statutory approval etc., in respect of the properties concerned before participating in the auction.
4. If any of the dates mentioned above happen to be a holiday/harthal/protest called by any political parties, the very next Bank working day will be considered for that event and related events including the date of auction/sale.

1. The property is put for sale subject to the provisions under the above Act / Rules and other prevailing laws.
2. This sale notice issued as per Rule 9 of Security Interest(Enfocement( Rules, 2002.

Dated this the 11th day of April,2023 at Ernakulam.

For The Federal Bank Ltd.,

Vice President (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