GOVERNMENT OF INDIA
DEBTS RECOVERY TRIBUNAL
Krishi Bhavan, Hudson Circle, Bangalore-560 001.
Ph: 080-22244324, Fax : 0822244325/326
E-AUCTION SALE NOTICE FORM NO-13
PROCLAMATION OF SALE UNDER RULE 38 AND 52(2) OF SECOND SCHEDULE TO THE
INCOME TAX ACT 1961, READ WITH THE RECOVERY OF DEBTS DUE TO BANKS AND
FINANCIAL INSTITUTIONS ACT, 1993
DCP 5708 in OA No. 62/2008
Between
Corporation Bank, K.H. Road, Shanthinagar, Bangalore-560 027
....Applicant
And
1. M/s. Maya Hotels Pvt Ltd., a Company constituted under the Indian Companies Act, having its
office at No. 52/1, Church Street, Bangalore - 560 001. 2. Shri M. C. Kumaraswamy, S/o. Sri M. P.
Chandraiah, Director, M/s. Maya Hotels Pvt Ltd., No. 52/1, Church Street, Bangalore - 560 001. 3. Smt. Thirtha
Kumaraswamy, W/o. Sri M. C. Kumaraswamy, Director, M/s. Maya Hotels Pvt Ltd., No. 52/1, Church
Street, Bangalore - 560 001
.....Defendants
The under mentioned property will be sold by ‘online e-Auction’ through website
https://www.matexauctions.com on 22.12.2014 for recovery of an amount of Rs.9,41,76,342.00
(Rupees Nine crore Forty One Lakhs Seventy Six Thousand Three Hundred and Forty Two only) with
interest at 16% from 16.08.2012 with cost thereon. The futures interest is chargeable at the same rate
till realization of debt as per recovery certificate bearing DCP No. 5708.
Date and Time of Auction 22.12.2014 between 11.30 A.M. and 12.30 P.M
with auto extension of ‘5’minutes i.e. , the end time of e- auction
will be extended by 5 minutes each time if bid is made within the
last 5 minutes before closure of auction
Earnest Money Deposit
Rs.750.00 Lakhs (Rupees Seven hundred fifty lakhs only)
Rs.75.00 Lakhs (Rupees Seventy Five Lakhs only)
Bid Increment Amount
Rs. 2,00,000/- or in such multiples.
Reserve Price
SCHEDULE PROPERTY: Schedule ''A '' Property All the piece and parcel of the property bearing
Corporation No. 52/1, situated at Church Street, Corporation Division, Old No. 60, New No. 61,
Bangalore and measuring 15.24mtrs (50 feet) northern side 15.36 mtrs (50.6 feet) on the
Southern side 15.54 mtrs (51 feet) on the eastern side and 15.24 mtrs (50 feet) on the western
side and also the passages measuring 15.54 mtrs(51 feet) by 4.57 mtrs (15 feet), bounded on
the East by : Purva Mall, West by : Plaza Theatre, North by : Building belonging to the vendor
comprising Premises No.70/1, M. G. Road, South by : Premises No. 52/2, Church Street and
also Church Street.
And having a commercial complex consisting of Basement + ground + mezzanine and two
upper floors.
TERMS AND CONDITIONS OF SALE
1. Auction/bidding shall only be through “online electronic mode” through the website of the
Service Provider https://www.matexauctions.com Bangalore is the Service Provider to arrange
e-auction platform.
2. The bidders may participate in e-auction for bidding from their place of choice internet connectivity
shall have to be ensured by bidder himself. DRT/Bank/Service Provider shall not be held responsible
for the internet connectivity, network problems, system crash down, power failure etc.
3. For details, help, procedure and online training on e-auction prospective bidders may contact the
Service Provider viz matexauctions (Contact No.: 080-40440616,9739632677, E-Mail id:
[email protected] & [email protected], Contact :Mr. Sathish: 9739632677
in Bangalore.
4. Bidders are advised to go through the website https://www.matexauctions.com for detailed
terms and conditions of auction sale & auction application form before submitting their Bids for
taking part in the e-auction sale proceedings.
5. For participating in e-auction sale the intending bidders should register their details with the Service
Provider https://www.matexauctions.com well in advance and get the User ID and password Only
the password may be changed on receiving it.
6. For participating in e-auction, intending bidders have to deposit a refundable EMD of 10% of reserve
price by way of DD favouring Recovery Officer–II DRT, Bangalore A/C Corporation Bank, DCP
5708, the intending bidders should submit the quotations along with the Demand Draft towards
EMD in a sealed cover by 3.00PM on 18.12.2014 to Recovery Officer-II, DRT, Bangalore. The
sealed cover should be superscribed with “quotation for participating in e-auction sale in DCP No
5708 “ Tender forms may be collected from the banks office or the Office of DRT.
7. The Reserve Price below which the property of Schedule ‘SHALL NOT’ be sold is for
Rs.750 Lakhs (Rupees Seven Hundred Fifty Lakhs only).
8. The highest bidder in the e-auction immediately on closure of auction process should submit/send
the final price quoted by him by fax both to DRT, Bangalore and service provider by Fax message
for getting declared as highest bidder in the auction.
9. The successful bidder should deposit 25% of the bid amount (including EMD) plus poundage fee of 1%
of bid amount + Rs 10/- separately on the same day of the sale, being knocked down in his favor and
balance 75% of bid amount within 15 days after the sale date by RTGS/NEFT/Funds Transfer to the
credit of A/C No. 6003261966, Indian Bank, Cubbonpet, Bangalore through IFSC Code
“IDIB000C107” or by Demand Draft /Pay Order in favour of Recovery Officer, A/c DCP No. 5708.
10 In case of default in payment at any stage by the successful bidder/auction purchaser within
the stipulated time, the sale will be cancelled and the amount already paid will be forfeited and the
property will be again put to sale.
11 The successful bidder shall bear the charges payable for conveyance, Registration fee, stamp duty
etc. as applicable.
12 The property is being sold on “As is where is & as is what is basis” and subject to conditions prescribed
in the second schedule to the Income Tax Act,1961 as applicable to RDDB & FI Act,1993.
13 The aforesaid property shall not be sold below the Reserve Price. However, the bidder must
undertake to increase the bid amount by one bid increment amount mentioned in the Sale Notice, even
if he/she is the sole and successful bidder.
14 Prospective bidders are advised to peruse the copies of Title deeds with the Bank and verify the
latest Encumbrance Certificate and other Revenue/Municipal records to exercise due diligence and
satisfy themselves on the Title and Encumbrances, if any over the property.
15 Bids once made shall not be cancelled or withdrawn. All bids made from the user ID given to bidder
will be deemed to have been made by him/her only.
16 All bidders shall be deemed to have read and understood the terms and conditions of sale and be
bound by him/her.
17 The Recovery Officer may postpone/cancel the e-Auction without assigning any reason therefor.
18 In case the e-Auction scheduled is postponed to a date before 30 days from the scheduled date of sale,
it will be displayed on the notice board of DRT, Bangalore and on the website of the Service Provider.
Note: The intending bidders may contact Sri Rajinishwar Dayal, Chief Manager Corporation
Bank, Shanthinagar Branch, Bangalore-560027, for ascertaining the details of properties and
also for inspection of property (Contact No ( m)-9945246880, email :[email protected]
Given under my seal and hand on 12th Day of November 2014.
Sd/(M. RAMJI)
Recovery Officer-II
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