Federal Bank : Sale notice - Sam Scaria

KTMB/SKKS/ PLI/ SEPF 1964/

/2023

18th January, 2023

Speed Post with 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 03/08/2021 calling upon the borrowers

1. Shri. Sam K Scaria, S/o. Kuncheria, Kanachery House, Mukkulam P.O

Koottickal, Idukki Dist- 686541

Represented by POA Holder

Shri. Sabu Augustin, S/o Augutine, Kallidukkil House, Kuravilangad PO

Pin- 686633

2. Smt. Jismy John, W/o. Sam Scaria, Kanachery House, Mukkulam P.O., Koottickal, Idukki Dist- 686541

to pay the amount mentioned in the notice being Rs. 37,58,697 (Rupees Thirty Seven Lakh Fifty Eight

Thousand Six Hundred and Ninty Seven only) is due from you jointly and severally as on 18/10/2021 together with future interest @12.90 with monthly rests and costs from 19/10/2021 till date of payment being the amount due under the loan availed of by them from our Br. Pala within 60 days from the date of receipt of the said notice.

Whereas the borrower(s) / coobligant(s) / guarantors (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 11/01/2022 by issuing a notice to the borrowers/defaulters and general public and publication thereof in news papers as contemplated under the said Act and Rules.

The undersigned hereby give notice to the borrower(s) and / or guarantor (s) and / or defaulters and general public that the Bank has decided to sell on 28th February, 2023, the property described herein below on under Rules 8 & 9 of the said Rules for realizing the dues of Rs. 43,22,053/- (Rupees

Fourtythree lakhs Twentytwo thousand and Fiftythree only) as on 28-02-2023.

with future interest from 01-03-2023 till realization and thus the undersigned hereby invites from interested parties the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder.

DESCRIPTION OF THE IMMOVABLE PROPERTY

All the piece and parcel of the landed property measuring 10.33 Ares ( 25.51 Cents) which comprises of a) 4.05 Ares ( 10 Cents) in Sy. 186/1A, 186/1B, ReSyNo 578/2/1 ), 6.28 Ares ( 15.51 cents ) in Sy. No 186/3A, 186/3B, Re. Sy. No. 578/2/2 in Block 21 and bounded on the North by property of Poovathaniyil, South by property of Kalloor and Chemplayil ,East by Panchayath Road , West by property of Kunnel situated in Lalam Village, Meenachil Taluk, Kottayam District, Kerala State.

Terms and Conditions

1. The reserve price below which the property will not be sold is Rs.32,00,000/- (Rupees Thirtytwo lakhs 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 Kottayam for Rs.3,20,000/-(RupeesThree lakhs Twenty thousand 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 as afore stated will be summarily rejected.
4. The sealed covers containing tender shall reach the undersigned before 4.30 PM. on 27th February, 2023.
5. The intending purchasers shall be present before the undersigned at his office on 28th February, 2023 at 10.00 am 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. The authorized officer reserves his right to modify the terms of payment
8. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Kottayam.
9. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, TDS, Registration fee etc. as applicable as per Law.
10. 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. Other encumbrances, if any should be cleared by the purchaser of the property.
11. The tenders offering price below the Reserve Price mentioned above will be rejected.
12. 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.
13. The intending purchasers can inspect the properties between 10 AM and 3.00 PM on 24th February, 2023.
14. The intending purchasers who wish to know further details / conditions may contact the Authorised Officer at his above address or visit Bank's official website i.e.https://www.federalbank.co.in/web/guest/tender-notices
15. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
16. If any of the dates mentioned above happens to be a Bank holiday, the very next Bank working day will be considered for that particular event and related events.
17. In case of inter se bidding, the minimum bid multiplier amount is fixed as Rs.10,000/-

Kottayam

For The Federal Bank Ltd.

( Authorised Officer under SARFAESI Act).