OI'FICE OF THE RECOVERY OFFICERDEBTS RECOVERY TRIBUNAL-I, EITNAKULAM

8'r'Floor,-K.S.H.B. Building, panampilly Nagar, Emakulam _ 6820360181 - 232J496/2324780 1i_miit: roi driekulan_dfs@nic. in

PROCL AMAT ION OF SALEDRC No. 3867

PROCLAMATI

e-Sale No. 2912016

ON OF SAL E UNDER RULES 52 2 OF SE OND CHEDULETO THE INCOME TAX ACT. I 961 READ WITH THE REC OVERY OF DEBTS DUETO BANKS AND FINANCI AL INSTITUT IONS ACT. 1993

South Indian Bank Ltd. An mal Branch ErnaAnnli ances and Others.

kulam Vs. M/s. AItima IIomc

Pouiose, Palokkar.an House, Mambra post, KorlRs.87'91'672 20 (Rupees eighty seven lakh ninery one thousand six hundred and sevenry twoand.paise trvenry only) as on I1.04.20r: payable by them in respect of the Rellve.,Certificate No 3867 in oA No.280/2otz issuea by th! presiding officer, Debts R;;;";;iTribunal, Ernakulam, and the interest and costs puyubl" u, per the Certificate.

A.d rvher-eas the undersigned has ordered the sare of the property mentioned in theschedulc. below in satisfaction ofthe said certificatc.

And whereas therc will be due thereunder, a sum of Rs.7g ,32,523.1g (Rupees seventyeight lakh thirty two thousand fivc hundred ana iwentf three and paise eighteen onry) as on06 09'2016, i,cluding cosls orld interest. Beside., th... rhutt be future interest, costs andexpenses also.

Notice is hereby given that in absence of any order of postponement, the said properryshall be sold on 06.09.2016 by e-aucrion from 14.00 hrs to 15.00 hrs and biJdingshall t.rkc place through ,Online Mectronic Bidding,, through the *"Uri,.https://dr1. auctiontiqer.,et o1' M/s. e-procuremenr Technorogies Ltd., Ahmedabad.

lnte,ding bidders sha, hord a valid Digital Signature certificate (uot mandatory).Bidders can pafticipate in the e-auction lionr anyivhere.

"E-offerV bids submitted online ulo'n.will be eligible for consideration. The intending bidders need to filr up the apprication online,

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up d copy of any valid photo identity/ address proof and copy of the PAN Card at thelbmr provided by the selvice provider, following the instructions therein.

1'hc intending bidders are advised to refer to the detailed terms and conditionsdisplal'ed at the site of the property, on the Notice Board of the Recovery Officer, in the*ebsite http: //tenders.gor,. in/ and in the website of the e-auction service provider. For an1other clarification, the undersigned rnay be contacted either 'in person or over phone at9841964716, or Shri, Vishuanarh V.B, Manager, South Indian Bank Lrd., Door No. XXIIT A,Banli Junctjon, Aluva Road, Angamaly - 683572, Ph. 0484-2457010, Mob.9495383038, e-mail lD br02l9 sib. co. in or Shri. Jacob K. John, Chief Manager, SIB Regional Office at0484-2111368. For information about online submission of application and assistanceduring bidding. please conl.act M/s. e-Procurement Technologies Ltd., Ahmedabad overphone at Help LineNo.079-4023 0810 to 827, e-mail id: suppo rt@auctiontieer. net, Mr.Madhusudan mobile No.09686999578 (e-mail id: madhusudan@auctiontiger.ner) and Mr.Stephen.- mobile No.09904587679 (e-mail id: stephen.kalpala@auctiontieer.net).

The property can be inspected on 12.08.20i6,25.08.2016 and 01.09.2016 for whichthe above named olficer ofthe South lndian Bank Ltd., Angamaly Branch may be contacted.

I'he sale u,ill be of the property ofthe 2"d defendant (Shri. Roy K.K) as mentioned inlhe schedule belou,and the liabilities and claims attaching to the said property, so far as theyhave been ascertained, are those specified in the schedule against each lot.

The propetty will be put up for sale in the lots specified in the schedule. lf rheamount to be realized is satislied by the sale of a portion of the property, the sale shall beimmediatell, stopped with respecl to the remainder. The sale also be stopped if, before anylot is knocked down, the arrears rnentioned in the said certificate, interest, costs (includingthe costs of the sale) are tendered to the officer conducting the sale or proof is given to hissatislaction that the amount of such certificate, interest and costs have been paid to theundersigned.

No oftiser or orher person, having any duty to perform in connection with this sale,however. either directly or indirectly bid for, acquire or attempt to acquire any interest in theproperty sold. The sale sha)J be subject to the conditions prescribed in Second Schedule ofthe Income l-ax Act, 1961 and the rules made thereunder and to the further followingconditions.

The particulars specified in the annexed schedule have been stated to the best of theinformation of thc undersigned, but the undersigned shall not be answerable for any error,mis-statement or omission in this proclamation.

l. 'l-he rescrve price bclorv which the property mentioned below shall nor be sold isRs. 1.20.00.000/-.

2. The anrounts by uhich the bidding are to be increased shall be Rs. 50,000/-. In rheevenr of any dispute arising as to the amount of bid, or as to the bidder, the lot shall atonc,.'be rgain put up to aurrion,

3. The highest bidder shall be declared to be the purchaser ofany lot provided that rheamount bid by him is not less tltan the reserve price. It shall be in the discretion oftheundelsigned to decline,/acceptance of the highest bid when the price offered appearsso clearly inadequate as to make it advisable to do so.

4. EMD of Rs.12,00,000/- shall be deposited by 02.09.2016, 17.00 hrs online throughRTGS/NEFITTRANSFER or by deposit of Pay Order/Demand Draft to the accounrNo.0572073 000000214 held by the 'Recovery Officer, DRT Ernakulam - Auction,wilh the South Indian Bank Ltd., Panampilly Nagar [lFS Code - SIBL0000572]

5. 'fhe dare lbr submission of online bids is from 0g.09.2016 rill 02.09.2016.

1'he property is being sold on "AS IS WHERE IS BASIS"

1-he undersigned reserves the right to accept or reject any or all bids if foundunreasonable or postpone the auction at any time without assigning any reason.

6. 'fhe successful bidde. shall have to pay 25%o of the sale proceeds after adjustmenr ofEMD and poundage fee @ 2Yo for the amount up to Rs.l,000l and @l% for theexcess of the bid amount, immediately in the said accounl as per details mentioned inpara 4 above.

7. The purchaser shall deposit the balance 75ok of the sale proceeds on or before the l5thday liom the date ol' sale of the property, exclusive of such date, or if the I 5,h day be aSunday or other Holiday, then on the first office day after the l5'h day. by theprescribed mode as stated in para 4 above.

In case ofdefault ofpayment within the prescribed period, the deposit, after defraying theexpenses of'the sale, may, if the undersigned thinks fit, shall be forfeited to the Goyemmentand the defaulting purchaser shall forfeit all claims to the property or to any part of the sumfor which it may subsequently be sold. The property shall be resold, after thelssue ofa freshproclamation of sale.

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Nooflots

Descliption of the propety to be soldwith the names of the other co-ownerswhere the property belongs todefaulter and any other person as co-ownels.

Revenueassessedupon theproperty orany partthereof.

Details ofany otherencumbrance towhich theproperty isliable

Claims, if any,which have beenput forward tothe property, andany other knownparticularsbearing on itsnature and value

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. One

AII that part and parcel of land havingan extent of 10.81 Ares (26.71 cents)in Re-Sy. No.2501417 (Sy. No. 854i2),Block No.3, rn Karukuny Village,Aluva Taluk, Ernakulam Disrrict witha right of way through the road on thewestem side of the property as perRelease Deed No. 120/2008 andPanition Deed No. 4210/2007 of SROAngamally with all improvementstherein. Boundaries: East- Propertyof Painadathu Poulose, Mallumaya-parambil Joseph Seemanthi etc; North-Pro of Kacha ill Pol ; West-

NIL NIL

Sales tax duespayable to theTahsildar,RevenueRecovery Office,Aluva will bedisbursed fromthe saleproceeds.

Road and property of TharuKuriakose; South- Property of Ellias.

Given under my hand and the seal of rhe Tribunal on this the l9'h day July, 2016o

(D. SuRec ov ery ficer

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OFFICE OF THE RECOVERY OFFICERDEBTS RECOVERY TRIBUNAL-I

ERNAKULAM8'r'Floor, K.S.H.B. Building, Panampilly Nagar, Emakulam - 682036

0484 - 2323496/2324780 e-marl: ro ldrtekulan-dfs@nic. in

DRC No.3 867 e-Sale No. 2912016

CONDITIONS OF TENDER.CUM-E-AUCTION

The sale of properties mentioned in the sale proclamation DRC No. 3867 dated19.07 .2016 shall be subject to the following conditions:

l. Auction shall be by online electronic bidding though the websitehttps://drt. auctiontiqer. net of M/s. e-Procurement Technologies Ltd., Ahmedabad.

2. Intending bidder shall hold a valid Digital Signature Certificate (not mandatory). Fordetails contact Mls. e-Procurement Technologies Ltd., Ahmedabad over phone at HelpLineNo.079-4023 0810 to 827. e-mail id: suooortroauctiontiser.net- Mr. Madhusudan -mobile No,09686999578 (e-mail id: madhusudan@auctiontiger.net) and Mr. Stephen -mobile No.09904587 679 (e-mail id: stenh kalna la uctiontiser.net).en

3. What is proposed to be sold are the rights to which the certificate debtors are entitled inrespect of the properties. The properties will be sold along with liabilities, if any. Theextent of the properties shown in the proclamation is as per the Recovery Certificateschedule. Recovery Officer shall not be responsible for any variation in the extent due toany reason. The properties will be sold on 'as is where is' and 'as is what is' condition.

4. Intending bidders are advised to peruse copies of title deeds available with the Bank andalso check the identity and correctness of the property details, encumbrances, etc.

5. The sale shall be by -lender-cum-e-Aucrion to the highest bidder subject to confirmation

by the Recovery Officer.

6. Bidders can participate in the e-auction from anywhere. Therefore, the intendingpurchaser shall pa(icipate rn the e-Auction on his own behalf and no third partyinterventio:.r, like authorised agent/ representative, would be permitted.

7. The successful bidder should bear the charges/ fee payable as per law for conveyance ofproperty such as registration fee, stamp duty, etc., in addition to poundage fee.

8 The e-auction service provider will allot a login/ user ID and password to the intendingbidders lor participating in the e-Auction. Thereafter, the intending bidders need to fill up

. the application online, upload copy ofany valid photo identity/ address proof and copy of- ,the PAN Card at the above website, following the instructions therein. In case the bidder

. .i, ,.,ot having a PAN Card, he/ she shall submit an affidavit on a Rs.20l- non-judicialstamp paper, stating the reasons thereof. EMD of 10% of the reserve price shall be madethrough RTGS/ NEFT to the Account number provided in the proclamation of sale andthe details of remirtances made shall be entered in online application. The serviceprovider shall provide training to the registered bidders before the date of auction.

Prospective bidders may avail online training on e-auction from M/s. e-procurement

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Technologies Ltd., Ahmedabad

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l0 e reglstered bidder shall Jog in to the auctjon portal with the user ID and passwordpro r ided by the e-auction service provider at the commencement of auction. In case ofl'ail ure to panlclpate in the auction by logging inro the online bidding ponal or onwithdrar.,,'al of tender prior to auction, the EMD shall be forfei ted, and no claim.whatsoever, would be entertained over the conduct ofauction. However, if the auction isadjourned for any reason, the bidders can opt to withdraw from the auction through theregrsteted e-mail ID and request for re fund of EMD.I l rhe highest bidder will be declared the successful bidder and he/ she will be intimated at

r close of auction. The successful bidder shalluments as well as pAN Card uploaded whileOfficer for verification, within thirty days from

e amounts remitted towards the auction shall be

l2 The e-Auction shall commence strictly at the scheduled time and above the highestquotation received The bids shall be in multiples provided in the procramati"" "i?r..The closing time of rhe au*ion is system con;olled and the time wilr get automatica yextended by five minutes if any bid is received during the last five _inrt.r, ir. *frif"active bid is in process.

l3' The successlur bidder should pay 25yo ofthe bid amount including the EMD already paidand the amount of poundage immediatery after the cr,ose of the auition ara tn" ."-liiingamounr within r5 days t)orn the date oi auction. The poundage fee is calculated at iherate ol 2 per cenr on such bid amounr up to Rs.r,000/- uno ar tn-" *" "r r

p....ri"" in.excess of such bid amount over Rs 1,b00/_. AII the payments shall be made throughRTGS/ NEFT to rhe Account-number mentioned in ttre p.o.la,nution of sale, -a ,rrrriu"intimated to rhe Recoverl'olncer at ro l drtekuram-dfs6'nic. in immediat"iy. ' --- *'-^'

14. 11'rhe full amount is nor paid rvithin 15 days rrom the date of auction, the cost of theauction shall be recovered fiom the d"porit _on"y and the balance forfeited to theGovemment.

15. Any deficiency of price, which may happen on a resale, by reason of the purchaser,sdefault and all expenses attending suctr resale ,huli t" ,".ou".able from the defaultingpurchaser.

l6 The sale becomes absorure afte. thirty days unless canceled by the Recovery officer foran) reason as per law.

he Recovery Officer to the successful bidderall the conditions of sale are fulfilled, and

st for inclusion/ substitution of names, otherficate of Sale shall be entertained.

l8 Thc sale will be stopped il the dues mentioned in the certificate, interest, costs (includingcost of sale) are tendered to.the officer_c""dr";i;;;;; sale or proof is given to hissatislaction that the a.lount of such certifica,", i;i..?u ,ro costs have been paid to theundersigned.

20 dispute arising our of thi s auction sale shall be decided by the Recovery Officer ands decision shall be final. However, Recovery Officer shall not be liable for any rssues

relaring ro e-Aucri on platform, failure of intemet corulection, server problems, etc

(D. S

Recovery O

2 l rhe Recovery officer has the absorute right to postpone/ cancel the sare, for the reasonsto be recorded in the proceedings. In case of adjoumment of sale for any .eason no freshnorice will be given. However, the new date olsale will be notified on ihe Notice Boardof the Tribunal. Details of adjournment will also be entered in the .A'Diary maintainedin the Recovery Section in conformity with the Regulations of practice, 2005. Theadjournment dates and time for submission of tenders *ill uko be available in the websitehttp://tenders.gov. in / and in the website ofthe e_auction service provider.

22. All conditions of sale shal be governed by the provisions of the Recovery of Debts Dueto Banks and Financial Institutions Act, l993 r"ud *ith the Second & the ihira schedulesto the Income Tax Act, l96r and the Income Tax (certificate proceedings) nrr., ls6zand also guided by the rnformation Technology Act 2000 as amended from time to time.

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. OFFICEDEBTS RE OFFICER

8'nFloor, K.'.H.B., I B UNA L- I

o4g4 _ 2J234 _6g2036

DRC No. 3867

e-Sale No.291201 6

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JDESCRIPTI

e-A UCTION SALE SC HEDUTE

ON OF THE PROPERTY

Nooflots

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Description of the property to be soldwith the names of the other co-ownerswhere the property belongs todefaulter and any other person as co-owners.

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AII that part and parcel of land havingan extent of 10.81 Ares (26.71 cents)in Re-Sy. No.25014/7 (Sy. No. 854/2),Block No.3, in Karukutty Village,Aluva Taluk, Ernakulam District witha right of way through the road on thewestern side of the property as perRelease Deed No, l20l20OB andPartition Deed No. 4210/2007 of SROAngamally with all improvementstherein, Boundaries: East- propertyof Painadathu Poulose, Mallumaya-parambil Joseph Seemanthi etc; North-Property of Kachapilly poly; West-Road and propert)'Kuriakose; South- Pro ert

Reserve Price

Earnest Morrey Deposit

Bid Multiplier

EMD Rem ittance

of Tharuof Ellias.

Rs. 1,20,00,000/- (Rupees one crore twenty lakh only)

Rs. 12,00,000/- (Rupees twelve lakh only)

Rs.50,000/- (Rupees fifty thousand only)

On or befole 02.09.2016 through RTGSA.,IEFT/TRANSFER orby deposit of Pay Order/Demand Draft to the account No.No 05 72073 000000214 held by the ,Recovery Officer, DRTErnakulam - Auction' with the South Indian Bank Ltd.,Panampilly Nagar [lFS Code - SIBL000O572]

Subraiss ion ofonline bids From 08.08.20 t6 ro 02.09.2016.

On 06.09.2016 frorn I4.00 hrs to 15.00 hrs with auro rimeexterrsion of 5 millutes each, till sale is concluded.

Note:

Online auction sale

l Bidders are advised to inspect the property and satisfy themselves before taking part in the aucrion2 Bidders are advised to carefully read the terms and conditions of sale before submitting their bids

Revenueassessed

upon theproperty orany partthereof.

Details ofany otherencumbrance towhich theproperty isIiable

Claims, if any,which have beenput forward tothe property, andany other knownparticu larsbearing on itsnature and value

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NIL NIL

Sales tax duespayable to theTahsildar,RevenueRecovery Office,Aluva will bedisbursed fromthe saleproceeds.

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and Conditions of Online

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OFFICE OF THE RECOVERY OFFICERDEBTS RECOVERY TRIBUNAL-I

ERNAKULAM8'r'Floor, K.S.H.B. Building, Panampilly Nagar, Emakulam - 682036

0484 - 232349612324780 | e-mai| ro I drrekulam-dfs@nic. in

ONI,INDRC No.......E AUCTION BII) FORM

Bank Account to which EMDto be returned

(Read cnrefully the ternrs And conditions of sale before filling-up snd uploading the bid-form)

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I -a-nd understood all the tenns and condrtions of auction sale and shall abrde bvlare thar I llave_I dec

them

j",r ,l (Digital Signature ofrhe Bidder)

I Name(s) of Bidder(s) -IIN CAPI'IAL LETTEI{S]

2 Father's/llusband's Name

J Postal Addrcss

PAN N um ber 1 MarrlLrrory)

5 Phone/ Mobile Number

6 E-mail ID

Date of remittance

Bank & Branch

A/c. No

IFS Code

UTR No

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Datc of subnrission of bid

IMD Remittance

Bid amoutlt

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Rs.

(Rupees

Bank & Branch

A/c. Holderl0

IFSC Code:

DECLARATIONDate

loThe Recovery Officer,Debr Recovery Tr.ibuna l-1,8'r' FI or, KSHB Building,Panamprlly Nagar,Ernaku lam - 682 036

Sir.

I l/We, the Bidder/s aforesaid do hereby state that, I/We have read the entire terms and conditions ofthesale understood them fully. UWe, hereby unconditionally agree to conform with and to be bound by thesaid terms and conditions and agree ro take part in the Onlini euction.

2 l/We declare that the EMD and other.deposit towards purchase-price were made by me/us as againstrny/our bid and that the parliculars remitrance given by me/us in th; bid form is true und.or.."t.

I I/We further declale that the intbrmation revealed by me/us in the bid document is true and correct to thebest of my/our belief. I/We understand and agree that if any ofthe statement/ information revealed byrne/us is found to be incorrect and/or untrue, the bid submitted by melus is liable to be cancelled and insuch case' the EMD paid by rne/us is liable to be forfeited by the Tribunal and the Tribunal will be atliberty to annul the offer rnade ro me/us at any point of time.

4 VWe also agree that aiier my/our offer given in my/our bid for purchase of the assets is accepted by theTribunal and l/We fail to accept or act upon the terms and conditions of the sale or am/are not able tocomplete the transaction within the time limit specified for any reason whatsoever and/or fail to fulfllany/all the ternls and conditions ofthe bid and offer letter, the EMo and any other monies paid by meiusalong with the bid and thereafter, are liable to be forfeited.

5 l/We understand that in the event that the successful Bidder fails to comply with the Terms andConditions of the Sale and the Tribunal in its sole discretion offers the assetls; to rrelus to our highestoffered bid therr I/We are unconditionally bound to comply with the Terms and Conditions of Sale. Andin the e'vent of l/we failing to cornply with the same, I/We-agree that the Tribunal is entitled to forleit theEMD deposited l/we also understand that the EMD of aii Bidders shall be retained by the Bank andreturned only after the successful conclusion of the sale of the Assets. I/we state that i/we have fullyunderstood thc tenns and conditions therejn and agree to be bound by the same.

6 The decision taken by Recovery officer ofthis Tribunar in alr respects shafi be binding on me/us.7 l also undedake to abide by the additional conditions ifannounced during the aucrion including the

arlnouncerne,r ofcorrecting and/or additions or deletions ortimes being offired for sale.

Name:. . . .

Address:.

E-mail ID

Mobile....

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OFFICE OF THE RECOVERY OFFICER

DEBTS ITECOVERY TRIBUNAL-IERNAKULAM

8'l'Floor, K.S.ll.B. Building, Panampilly Nagar, Ernakulam - 682036

0484 - 23234961232 4180 le-mail: ro I drtekulam-dfs@nic in

GE EIIAL (lUID EI, INE s TO BIDD RS

1. Nature and Object of Online Sale:

(a) 'fhe online e-auction sale is with the object o( Free and Fair Sale' Transparency and tor

achieving best-possible recovery of public money'

(b) AII conditions of sale shall be governed by the provisions of the Recovery oI Debts Due to

Banks and Financial lnstitutions Act, 1993 read with the Second & the Third Schedules to

thelncome'faxAct,lg6landthelncomeTax(CertificateProceedrngs)Rules1962andalso guided by the lnformation Technology Act 2000 as amended from time to time'

Caution to bidders:

(a) I'roperty is sold on as is and where is /on what it is/ no compliant basis'

(b) Bidders are advised / cautioned to verify the SRO as well as the Revenue Records and

slrallsatisfythemsclvesregardingthenature,description'condition'encumbrance'lien'charEe, statutory dues, etc over the ProPerty before submitthg their bids'

(c) Bidders are advised to go through all the terms and conditions of sale given in the tender

document and also in the in the dailies belore submitting the bid and ParticiPatinE in the

online biddin g/auction.

Inspection of ProPcrtY:

(a)Propertycanbeinspectedonthedate(s)giveninthepublicsalenotice/tenderdocument'

(b) Bidders shall inspect the ProPerty and satisfy themselves regarding the physical nature'

condition, extent, etc of the ProPerty

(c) Bidders are bound by the principle of caveat emPtor (Buyer Beware)'

(d) Complaints, if any, in the matter of rnspection shall immediately be brought to the notice

of the Recovery Officer.

(e) tsidders may insPect and verify the title deeds and other documents relating to the

property available with the Bank/TribunaI.

Submission of bid forms:

(a) Bids in tlre prescribed format given rrr the tender document shall be submitted ,,on1ine,,

through thc, portal of e-auction service provider. Bids submitted otherwise shall not be

eligible for consideration and shall forthwith be rejected

(b) Bids shall be submitted online before the last date and time given in the sale nohce/tender

documcnt.

(c) Bids forrrr shalt be duly filled in with all the relevant details'

(d)BiddersStayingabroad/NRlsiPlos,EiddersholdingdualcitizenshipmustSubmitPhoto

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page of his/her valid lndian Passport.

)(e) Incomplete/unsigned bids without EMD remittance details will be summarily rejected.

NRI Bidders must necessarily enclose a copy of Photo page of his,/hrer Passport and routetheir bid duly endorsed by Indian Mission.

(f) Only copy of I'AN Card, Passport, Voter's ID, Valid Driving License or Photo IdentityCard issued by Govt. and PSU will be accepted as the identity document and should besubmitte d along with the bid form.

(g) Orighal Identity Document, copy of which is submitted along with the bid form, shouldbe produced on demand.

5. Earnest Money Deposit ([MD):(a) The bid shall be accompanied by the EMD as specified in the public sale notice/tender

documL'nf.

(b) EMD and other deposits shall be remitted through EFTiNEFT/RTGS Transfer to the Bankaccount as specified in the sale notice/Tender document.

(c) Bidders shall not disclose remittance details of EMD, UTR Code, etc. to anvone tosa [eguard ifs secrecy.

(d) Bidders shall preservc the remittance challan and shall produce the same as and whendemanded.

(e) Bid form wrthout EMD shall be summarily rejected.

(f) All details regarding remittance of EMD shall be entered in the bid form.(g) EMD, either in part or ln full, is liable for forleiture in case of default,

5. Bid Multiplier:(a) 'Ihe biddcrs shall incrcase their bids in multiplies of the amount specified in the public

sale noLice.

7. Duration of Auction sale:

(a) online auction sale $,ill start automatically on and at the time given in the public salenotice/Tender Documcnt.

(b) The c-Auction shall commence strictly at the scheduled time and above the highestquotation received. Auction/Bidding time will hitially be for a period of one hour andthe cJosing time of the auction is system conrrolled; the trme will get automahcallyextended by five minutes if any bid is received during the last five minutes, i.e. whileactive bid is in process and kept open till the auction-sale concludes.

1cj II a.y marker-leading bid (bid higher than the highest at the point in time) is receivedwithrn the last five minutes of closing time, the bidding time will be extendedautomatically by five minutes and if no bid higher than last quoted highest bid isrecejved within the said extended five minutes, the auction sale will automatically getclosed at the expiry of the extended five minute. There will thus be an extension ofbidding-timc, each of five minutes duration, till auction is concluded.

(d) Bidders are advised ro enter their bid accordingly keeping in mind the five minutesduration.

(e) No complaint on rime-factor or paucity of time for bidding wilr be entertained.8. Online Ilidding:

(a) Auctio'r/ bidding rvill be only online bidding through the portal provided by the serviceprovider.

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(b) Bidders are cautioned to be careful while entering their bid amount and to check foralteration, if any, before confirming the same.

(c) No request/complaint oI wrong bidding will be entertained for cancelling the sale and rnsuch case, the EMD in full will be forfeited.

(d) Bidclers may, subject to conditions of e-auction service provider, avail pre-auctiontraining and/or for demo/mock auction-sale.

9. Declaration of successful bidder:

(a) IJighest bid will be provisionally accepted on "subject-to-approval" basis and the highestbrdder shall not have any right/title over the property until the sale is confirmed in hisfavour.

(b) Intimation will be sent to the highest bidder through e-mail. Date of sending e-mail willbe considered as date of intimation. If no intimation reaches, bidders are expected to takeefforts to find out status from the Tribunal/Bank. Non-receipt of intimation should not be

an excuse for default/non-payment.

10. Deposit of purchase price:

(a) 1'he bidder declared successful, shall pay, immediately after such declaration, a deposit of25'1, (less EMD already paid) on the amount of his purchase money and also thepoundage fee calculated at the rate of 2 per cent on such bid amount up to Rs.1,000i- andat the rate o[ 1 per cent on the excess of such bid amount over Rs.1,000/-. AII thepayments shall be made through RTGS/ NEFT to the Account number mentioned in theproclamation of sale, and shall be intimated to the Recovery Officer at

ro1 drtekulam-d fs@nic.il immedia tely.

(b) In case the auction-sale continues and concludes beyond the Banking transaction hours ofthe day, the deposit of 25% of purchase price (less EMD already paid) shall be remittedbefore 12 noon of the next working day.

(c) The balance amount of purchase money shall be paid on or before the fifteenth day fromthe date of the sale.

11. Default of Payment:

(a) Default oI payment of bid amounts and/or the Poundage fee within the stipulated timeshall render automatic cancellation of sale without any notice.

(b). The EMD, aiter defrayrng the expenses of sale, etc., will be forfeited, at the discretion ofthe Recovery Of ficer, either in full or part.

(c) There shall be no fresh sale notice if the sale is postponed for a period less than 30 days.liow'ever, thc' nen' date of sale will be notified on the Notice Board of the Tribunal.Details of adjournment w,ill also be entered in the'A' Diary maintained in the Recoverysection in conformity with the Regulations of practice, 2005. The adjoumment dates andtime for submission of tenders will also be available in the website hthr://tenders.qov.rn/

, and in the website of the e-auction service provider.L2. Confirmation of Sale:

(a) 'Ihe sale held in favour of the successful bidder, in normal circumstances, will beconfirmed, on compliance of alr terms and conditions of sale, on the expiry of 30 daysfrom the date of auction sale.

+

(b) Sale will not be cor.rfirmed if the defaulter satisfies tthe sale that the Recovery Certificate has been fu60(1)(b) of Second Schedule to the Income Tax Act.

he Recovery Officer within 30 days ofIly satisfied as provided under rule-

(c) Confirmation of saie r,vill not be made pending operation of any stay/iniunction/restraintorder passed by the higher authorities/court against confirmation.

(d) The deposit made by the successful-bidder, pending confirmation of sale, will be kept inan interesting bearing fixed deposit account.

(e) No request for cancellation of sale or return of deposit either in part or full, will beentertained.

1.3. Payment of Stamp Duty, etc:

(a) The sale attracts Stamp Duty, Registration Charges, etc. as per relevant laws.(b) Sale Certificate will be executed and issued only upon the purchaser producr.ng the

certificate issued by authority concerned of having received the requisite Stamp Duty.14. Sale Certificate:

(a) Sale Certificate will be issued only in the name/names of the bidders whose name/namesare mentioned in the bid form.

(b) No request for inclusion/substitution of names, other than those mentioned in the bid, inthe sale certificate u,ill be entertained.

(c) Sale Confirmation/Sale Certificate shall be collected in person or through an authorizedPerson.

15. Return of EMD:(a) EMD oI unsuccessful bidders will be retumed through EFT/NEFT/RTGS transfer to the

Bank account details provided by them in the bid form and rntimated via their e-mail ID.(b) Unsuccessful bidders shali ensure retum of their EMD and, if not received in a reasonable

time, immediately contact the Recovery Officer and/or the Bank.16. Stay/Cancellation of Sale:

(a) ln case of stay of further proceedhgs by higher judicial forum, the auction may either bedeferred or cancelled and persons participating in the sale shall have no right to clarmdamages, compensation or cost for such posfponement or cancellation.

(b) Default irr pay*rent of 25% of the purchase price or the barance purchase price or thepoundage fee, within the stipulated time will result in cancellation of sale.

(c) 'l'he purchase'r may within thirty days of the sale, apply for setting aside the sale on theground that the certificate debtor had no sareabre interest in the property sold.

17. Pelivery of Title Deeds:

(a) Successful bidder/Auction purchaser, on receipt of order of confirmation, shalr contactthe Certificatc' Holding Bank for derivery of tiire deeds and other documents rerated tothe property.

(b) The Bank shall ensure that title deeds and other documents, on confirmation of sale, areforthwith taken delivery from the Tribunar and handed over to the auction-purchaserand complaint of deray, if any, will resurt in withholding of the amouat t r such time titredeeds are delivered.

18. Delivery of possession:

(a) Delivery of possession f the property sold shall be as per Income Tax (CertificateProceedings) Rules, 1962

(b) AJI expenses and incidental charges thereto shan be bome by the auction purchaser.

(c) Request for appropriation of sale-proceeds by the Bank/FI will be considered only upon

the auction-purchaser filing a memo of having received the title deeds and deljvered

possession of the property.

19. Other Conditions:

(a) No officer or other Person having any duty to perform in connection with any sale, either

clireclly or indirectly, bid for, acquire or attemPt to acquire any interest in the property

sold.

(b) No counter-offer/conditions by the bidder and/or successful-bidder will be entertained.

(c) The Recovery Officer will be at liberty to amend/ modify/ delete any of the conditions as

may be deemed necessary in the li8ht of facts and circumstances of each case.

(d) The Recovery Officer has the absolute rlght to accept or re.iect all or any bid or bids as

well as to postpone or cancel the sale for the reasons to be recorded in the proceedrngs'

(e) Ilidders shall be deemed to have read and understood all the conditions of sale and are

bound by the same.

(t) 1'he above terms and conditions are general in narure, subject to change and are in

addition to other specific conditions Siven in the proclamation of sale.

(g) Bidders are advised to preserve the EMD and other deposits challan and also a copy of

the terms and conditions of onlhe sale downloaded from the Poltal of the e-auction

service provider for future reference.

Technical Terms and Conditions of Onl ine Auction Sale

1. Prospective bidder shall have a valid Digital signature certificate (DSC) issued by any of

the recognised agency (not mandatory) and a valid e-mail ID.

2. Prospective bidder has to register with the e-auction service provider.

3. Only upon verification of the bid form and conlirmation of remittance of EMD, the User

ID issued by the e-auction service provider will be activated permitting the bidder to

enter into the website of the service provider for bidding.

4. ISidders should not disclose their User ID as well as password and other material

information relating to the bidding to anyone to safeguard its secrecy.

5. Bidders are advised to change the password immediately on receipt from the service

provider.

6. Time Extension: lf any market-leading bid (bid higher than the highest at the point intime) is received within the last five minutes of closrng time, the bidding time will be

extended automatically by five minutes and if no bid higher than last quoted highest bidrs received within the said extended five minutes, the auction sale will automatically 8etclosed at the expiry of the extended five minute. There will thus be an extension ofbidding-time, each of five minutes duration, trll auction is concluded.

7. Training: 'lhe service provider shall provide trainhg if required by the bidders at amulually convenient date and time before the auction.

8. Bids: All bids placed are legally valid bids and are to be considered as bids from thebidder himself. Once the bid is placed, the bidder cannot reduce or withdraw the bid forwhatever reason. If done so, the EMD amount shall be forfeited.

J

/,The higlrest and the latc'st bid,on the. auction shall supersede an the previous bids of the

::'i::'ffi#:""jLf,1ii|i:i with the r'ign"'t or;;bia does.,ot s", -f ;J,'i.r all consequences arising out of the bidbidding) and no complaint/ representation

very Officer. Hence bidders are cautioned toerlrectify their bid if required before confirming

11 The intimation to the bidder/ bidders concemed of having decrared successfur in theauction sale w,l primarily ^be

s:.nt to them ,.-.',g; "-,,.uii.

The date of sending the e-mai.lwill be considered as date ol mtimation.12. If no intimation rcaches for reasons

bidders are requirecl to take efforts to a

:Hfi"i:J,1""1:er or for return of

13. Demo/mock auction:(a) For bidders who have indicated n

actual e-Auction.(b) A note of caution for the Bidders: Bidders may encounter certain urforeseenproblems such as time lag, heavy kaffic, ,yr,"_ipo*u. failure at the Bidders end. Toavoid rosing out on biddhg because of ";.r"-;J,.,;i;""d reasons, it is advised not towait for the iast moment.

14, Confidentiality:

t" *i;"ilt

er, the officials of the Bank,.inctuding their men, agents,

confidenti the e_auction sale, shall maintjm uUrolrl_".i.t(b) Breach of

ars of the bidders ParticiPating in the e-auction sale.

. action. oticed, wil.l result in cancellation of sale and appropriate

15 'Ihe.e-auction_service provider shall submit to the Recovery Officer,for, the ,,Thc .l'hird parr,

' -:>nd used ror the ,^r rr'.,1::::';"'.:rtiricate as per CVC norms on rhe

t

as and when calledsoftware loyed

ecovery OfIicer,DRT-1, Emaku

ii