punjab national bank
Tirupur Avinasi: No.220, Avinasi Road, Tirupur - 641 604 Telephone No- 0421-2486077 / 2486088
E-AUCTION SALE NOTICE UNDER THE PROVISIONS OF SARFAESI ACT, 2002
For Sale of immovable properties mortgaged to the Bank
In exercise of powers contained in the SARFAESI Act, 2002, the Authorised officer has issued demand notice
dated 21.04.2014 to the borrowers/ guarantors/ obligants under Section 13(2) of the said Act to repay the
amount mentioned in the notice being Rs.3,93,92,795/- (Rupees Three Crores Ninety three lakh ninety two
thousand seven hundred and ninety five only) as on 31.03.2014 with further interest thereon from 01.04.2014
plus other cost and expenses and subsequently Authorised Officer has taken possession of the under
mentioned Secured Asset on 15.07.2014, in respect of credit facilities granted to M/s Saara Knits (herein after
referred to as “borrowers”). It has been decided to sell the secured asset mentioned hereunder through
E-Auction for realization of the secured debts due to Punjab National Bank, at present amounting to
Rs.4,24,55,573.78 (Rupees Four Crores Twenty Four Lakh Fifty Five Thousand Five Hundred and Seventy
Three and paise Seventy Eight only) as on 27.12.2014 plus future interest from 28.12.2014 plus other charges/
costs incurred by the bank thereon till final payment/realisation. On line sale through E-auction sale arranged
by the service provider M/s.Nextenders India through the website www.e-auctions.in
DETAILS OF THE IMMOVABLE PROPERTY
Name of owner (Mortgagor) : Mr.R.Ponnusamy.
Lot I: All that part & parcel of land measuring to an extent of 100 Cents situated at latest S.F.No.221/2D,
222/2C (measuring 0.2840 & 0.4050 Hectares, respectively) in S.F.No.221/2 (total 1.770 hectares),
S.F.No.222/2 (total 4.390 hectares), Veerapandi Village, Tirupur Taluk, Nallur SRD, Tirupur
Registration District with the following boundaries: North to lands belonging to N.Periyasamy and
Ramasamy property; South to lands belonging to Muthukannabiran another part; East to land
belonging to N. Periyasamy; West to Murugampalayam to Karaipudur North-South Road.
Reserve Price : ` 165.00 Lacs
EMD to be Deposited : ` 16,50,000/-
Name of owner (Mortgagor) : Mrs.K.Menaka.
Lot II: All that part & parcel of land with building (5290 Sq ft) measuring to an extent of 68 Cents
situated at present Sub-division S.F.No.453/1C2 in S.F.No.453/1C (1 hectares and 40.0 acres), Near
Venketeswara Nagar, Veerapandi Village, Tirupur Taluk, Nallur SRD, Tirupur Registration District within
the following boundaries: North to 20 ft East-West Pathway; South to S.F.No.453/1C1, 453/1C2 in 30 ft
East- West pathway; East to P.Kasthuri property; West to R.Kumarasamy property in S.F.No.453/1C2.
Reserve Price : ` 185.00 Lacs
EMD to be Deposited : ` 18,50,000/-
Last Date for Depositing EMD
10.02.2015 upto 16.00 hrs
Inspection of Property with Prior
Appointment with Authorized Officer
04.02.2015 from 11.00 am to 4.00 pm
13.02.2015
DATE & TIME OF E-AUCTION
Lot I: From 10.30 a.m. to 11.30 a.m.
Lot II: From 12.00 noon to 01.00 p.m.
Automatic Extension for each item
5 minutes each till conclusion of sale
Lot I: ` 50,000/BID MULTIPLIER (Minimum incremental Bid Value)
Lot II: ` 50,000/TERMS AND CONDITIONS OF AUCTION
The sale shall be subject to the conditions prescribed in the Security Interest (Enforcement ) Rules, 2002 and to the
following conditions:
1. The sale will be of the property of the mortgagors/obligants above named in “AS IS WHERE IS” , “AS IS WHAT
IS” basis and WITHOUT ANY RECOURSE BASIS”. The purchasers should make their own inquiries regarding
any statutory liabilities, arrears of property tax, electricity dues, etc. of the firm/company/Trust by themselves
including liability on account of workers dues, if any, before participation in the e-auction/sale.
2. The intending bidders have to submit their EMD by way of remittance by Draft payable at Tirupur favouring
“The Authorised Officer, Punjab National Bank”, superscribing the envelope as “A/c M/s Saara Knits Lot. ”. The Bid Form alongwith acceptance of terms of conditions of this notice and EMD details, the copy of
identity proof which should contain the address for future communication (Voter id/ Driving Licence/Passport) &
PAN card should reach the Authorised Officer at the address given above ON OR BEFORE 10.02.2015.
3. Bid form and terms and conditions of E-auction can be obtained from Punjab National Bank, No.220, Avinasi
Road, Tirupur-641604 (Contact No.77080 67015) or downloaded from the e-auction website www.e-auctions.in
and www.pnbindia.in.
4. The envelope containing bid form, the EMD details should be superscribed “A/c M/s Saara Knits” alongwith the
address, e-mail Id, mobile number (E-mail ID of the prospective bidder is absolutely necessary, as all the relevant
information and allotment of password will be conveyed through e-mail).
5.Prospective bidders are required to obtain User- id & Password, which is mandatory, for bidding in above EAuction from M/s Nextenders. Passwords will be allotted to only those bidders who fulfil all the terms and conditions
of the E-Auction and have deposited the requisite EMD. They should also contact the service provider through their
E-Mail: [email protected] or through Phones: 09167246751 / 020-25315555 / 02025315556 sufficiently early & get online e-auction training from them. The participating bidders will have to submit
their offers/bids by logging into the said website and the sale price will be finalized through online e-auction process.
6. The undersigned reserves the right to accept any or reject all bids, if not found acceptable or to
postpone/cancel the auction at any time without assigning any reason whatsoever and his decision in this
regard shall be final. No offer/bids below reserve price shall be entertained.
7. Bidders have to make their own arrangements for accessing the e-auction site on the date & time as mentioned
above. Bidders are also advised to make their bids within 5 minutes after the last bid as the auction will come to a close if
there are no bids during the last 5 minutes of the closing time. However if there is a new bid during the last 5 minutes of
the closing time, the e-auction will get extended by another 5 minutes. In such a situation, the auction will extend beyond
the scheduled closing time and will come to a close till there are no new bids in the next 5 minutes after the last bid.
8. In case there are bidders who do not have access to the internet access but interested in participating the
e-auction, they can approach our Circle Office, at PNB House Near BHEL Kailasapuram PO, Trichy - 620 014,
who as a Facilitating office shall make necessary arrangements. Such bidders may contact our Nodal
Officer sufficiently early for the same.
9. Neither Punjab National Bank nor Service Provider or Authorised Officer, will be responsible for any lapses /failure
(internet failure, power failure etc), during the e-auction time. In order to ward-off such contingent situations, bidders
are requested to make all the necessary arrangements / alternatives whatever required so that they are able to
circumvent such situation and still be able to participate in the E-Auction successfully.
10. The successful bidder shall deposit 25% of the bid amount (including EMD) by DD within 24 hours on the e-sale
being finalized in his / her favour and the balance amount 75% of the bid amount shall be payable within 15 days
from the date of auction.
11. In case the successful bidder fails to deposit 25% of the bid amount or the balance amount within the specified
time frame as aforesaid, the entire deposit amount made by the bidder including EMD shall be forfeited by the
Authorised Officer without any notice and the property shall forthwith be put up for sale again and resold by the Bank.
12. It shall be in the discretion of the Authorised Officer to adjourn/ discontinue/ postpone/ cancel the sale
proceedings without assigning any reason thereof. The Authorised Officer also reserves the right to modify any
terms and conditions of the advertisement/sale at his discretion without prior notice.
13. The Bank is not liable to pay any interest/ refund of EMD in case of any delay in issue of confirmation of sale/ Sale
Certificate by virtue of any Court Order received after e-auction is held.
14. The sale certificate shall be issued to the successful bidder in the same name in which the tender is submitted.
15. The EMD deposited by the unsuccessful bidders shall be refunded to them without any interest through Demand
Draft within 5 days from the date of closure of the E-auction sale proceedings.
16. The successful bidder should bear the charges/ fee payable for conveyance such as stamp duty, registration
charges etc as applicable as per Law. The successful bidder shall also pay other statutory dues / taxes that may be
due for payment to local authorities etc as well as arrears of electricity charges, water charges etc.
17. The particulars specified in the schedule above have been stated to the best of the information of the
undersigned, but the undersigned shall not be answerable for any error, mis-statement or omission in this
notice.The prospective bidders may satisfy themselves about the condition of the assets/value measurements etc.
18. The decision of the Bank regarding sale of the above property shall be final and also subject to litigation if any,
pending as on the date of sale.
19. Bidders are advised to go through the website of the E-Auction Service Provider/Vendor M/s. Nextenders India
for detailed terms and conditions for auction sale before submitting their bids and taking part in the E-Auction sale
proceedings and/or contact Shri B Balachandran, Nodal Officer, Punjab National Bank, Circle Office, Trichy.
Telephone No.0431-2521114.
20. This Publication is subject to force majuere clause.
STATUTORY 30 DAYS SALE NOTICES UNDER THE SARFAESI ACT, 2002
The borrower/ guarantors are hereby notified to pay the sum as mentioned above along with upto date interest and
other expenses/charges before the date of e-Auction, failing which the property will be auctioned/ sold and balance
dues, if any, will be recovered with interest and cost.
Authorised Officer
Place : Tirupur
Punjab National Bank, Secured Creditor
Date : 27.12.2014