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. 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