Federal Bank : Sale Notice - Residential House at Ettumanoor

Regd / 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 16- 08-2023 calling upon the borrowers

1. Soumiamol Puthuparampil Gopalakrishnan, D/o Gopalakrishnan Nair, Puthuparampil House, Ramakkalmettu P O, Kuruvikkanam, Idukki, Kerala - 685552
2. Gopalakrishnan Nair, S/o Narayanan Nair, Puthuparampil House, Krishnapuram, Karunapuram, Ramakkalmettu, Idukki, Kerala -685552.

to pay the amount mentioned in the notice being ₹ 79,25,954/- (Rupees Seventy nine lakhs twenty five thousand nine hundred and fifty four only) as on 16-08-2023 together with interest thereon from 16-08- 2023 till payment, being the amount due under the various loans availed from our Br. Nagampadam 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 16th November 2023 by issuing a notice to the borrowers/defaulters and general public and publication thereof in newspapers 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 30th April 2024 the property herein

below on " AS IS WHERE IS", " AS IS WHAT IS", WHATEVER THERE IS BASIS " under Rules 8 & 9 of the said Rules for realizing the dues of Rs. 83,60,817/- (Rupees Eighty three lakhs sixty thousand eight hundred and seventeen only) as on 30th April 2024 with future interest from 1st May 2024 till realization on as is, what is, where is, whatever there is 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 mortgaged properties/secured assets

All the piece and parcel of the land measuring 04.45 Ares (11 Cents) together with building existing and/or to be constructed and all other improvements thereon comprised in Re-Sy No. 637/1-2-3-2 (Old Sy No. 466/4) in Block No.35, of Kothanalloor Village, Vaikom Taluk, Kottayam District, Kerala State within the registration Sub District of Kaduthuruthy, bounded as per title deed on East by: Property of Panammuriyil Jaison Varghese Jaboi and Asha Thomas, West by: Property of Kunnel Joseph, North by: Property of Kunju Ittamparambil, South by: 11 Ft width Private Road and Property of Shon Sabu and bounded as per location sketch on East by: Property of Jaison Varghese and Jeboi, Asha Thomas, West by: Property of Jose Kunnel, North by: Property of Kunju Ittamparambil and South by: Road and Property of Biju Joseph.

Terms and Conditions

1. The reserve price below which the properties will not be sold for Rs. 63,50,000/- (Rupees Sixty three lakhs fifty thousand 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 6,35,000/- (Rupees Six lakhs thirty-five 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. Lot number shall be invariable written on the sealed cover containing the tender.
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 29th April 2024
5. The intending purchasers shall be present before the undersigned at his office on 30th April 2024 at 10.00AM 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. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Kottayam.
8. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
9. No encumbrance in respect of the property prior to our 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. The society charges and the other encumbrances, if any should be cleared by the purchaser of the property
10. The tenders offering price below the Reserve Price mentioned above will be rejected.
11. 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.
12. The intending purchasers can inspect the properties between 11 AM to 4.00 PM on 26th April 2024. The intending purchasers who wish to inspect the property and / or know further details / conditions may contact the Authorised Officer at his above address.
13. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
14. If any of the dates mentioned above happens to be a holiday, the very next Bank working day will be considered for that particular event and related events.

Kottayam

For The Federal Bank Ltd.

( Authorised Officer under SARFAESI Act).