Federal Bank : Sale notice - Javeens motoring

KTMB/SEPF/1792/2023

18/07/2023

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 01.10.2022 calling upon the borrowers/ coobligants/legal heirs

1. M/s Javeens Motoring Private Limited, Registered Office at Building No.: XIX/288 B & C, Chalukunnu, Kottayam District, Kerala State, Pin - 686001
2. Mrs. Anu Javeen , W/o late Javeen Mathew, Manappurath House, John Mathew Road, Chalukunnu, Kottayam, Pin - 686001
   Also at
   Director, M/s Javeens Motoring Private Limited, Registered Office at Building No.: XIX/288 B & C, Chalukunnu, Kottayam District, Kerala State, Pin - 686001
3. Mr. Karma Javeen Mathew, aged 22, S/o. late Javeen Mathew, Manappurath House, John Mathew Road, Chalukunnu, Kottayam District, Kerala State, Pin - 686001
4. Ms. Kamrin Alice Javeen, aged 21, S/o. late Javeen Mathew, Manappurath House, John Mathew Road, Chalukunnu, Kottayam District, Kerala State, Pin - 686001
5. Master. Keral Javeen George, aged 16, S/o. late o Javeen Mathew, represented by Mother and Natural Guardian Mrs. Anu Javeen, W/o. late Javeen Mathew, Manappurath House, John Mathew Road, Chalukunnu, Kottayam District, Kerala State, Pin - 686001

to pay the amount mentioned in the notice being Rs. 3,74,87,295.88 (Rupees Three crores Seventyfour lakhs Eightyseven thousand Two hundred and Ninetyfive paise Eightyeight only) as on 01/10/2022 as described below plus cost and other expenses and further interest @ as described below per annum with monthly rest (inclusive of penal interest) as described below from 02/10/2022 plus cost and other expenses and further interest @ as mentioned below within 60 days from the date of receipt of the said notice.

Sl. No.	Account Number	Dues	as	on	% of Interest rate
		01/10/2022
1	10255500005200	Rs.3,40,43,284.52	16.60% per annum with monthly at monthly rest
					(inclusive of penal interest @ 4%)
2	10256900063120	Rs.8,95,338.40		13.85% per annum with monthly at monthly rest
					(inclusive of penal interest @ 2%)
3	10256900063138	Rs.25,48,672.96		13.85% per annum with monthly at monthly rest
					(inclusive of penal interest @ 2%)
	TOTAL	Rs.3,74,87,295.88
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 25.01.2023 by issuing a notice to the borrowers/defaulters/legal heirs and general public and publication thereof in news papers as contemplated under the said Act and Rules.

The undersigned hereby give notice to the borrower(s) and / or guarantor (s) and / or defaulters / legal hires and general public that the Bank has decided to sell on 12th September, 2023, the property described herein below on under Rules 8 & 9 of the said Rules for realizing the dues of Rs. 4,17,31,819/- (Rupees

Four crores Seventeen lakhs Thirtyone thousand Eight hundred and Nineteen only) as on

12.09.2023 with future interest from 13.09.2023 till realization and thus the undersigned hereby invites

from interested parties the sealed tenders for purchasing the property subject to the terms and conditions mentioned hereunder.

Sl. No.	Account Number	Dues as on 12/09/2023 (As per OA Terms)
1	10255500005200	Rs.3,78,92,254/-
2	10256900063120	Rs.9,83,889/-
3	10256900063138	Rs.28,55,676/-
	TOTAL	Rs.4,17,31,819/-

1. Description of Mortgaged Immovable Property

Description of property	Boundaries	Asper Title Deed	As per Location
			Sketch
All that piece and parcel of the	East	by property of Kurian	by property of Kurian
landed property measuring 2.44		Ponnattu	Ponnattu
Ares in Re. Survey No.: 14/2,	South	by Kottayam -	by Road
Block 117 of Kottayam Village,		Kumarakom Road
Kottayam Taluk, Kottayam	West	by Eruthikkal	By Erthikkal
District along with building and		property	property
other improvements thereon	North	by own property	By Own property

(2) Description of Mortgaged Immovable Property

All that piece and parcel of the landed property measuring 5.88 Ares in Re. Survey No.: 14/1, Block 117 of Kottayam Village, Kottayam Taluk, Kottayam District along with building and other improvements thereon and bounded on East by Properties of K. I. Thomas Thadathil and Kurian Ponnattu, South by Own property, West by property of Eruthikkal and North by Road.

Terms and Conditions

1. The reserve price below which the property will not be sold is Rs.2,00,00,000/- (Rupees Two crore
   Fourtyseven lakhs only)
2. Both properties will be sold as a single lot
3. 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 Rs.20,00,000/-(RupeesTwenty lakhs only) being earnest money equivalent to 10 % of the Reserve Price of the property concerned, which is refundable if the tender is not accepted.
4. Tenders which are not duly sealed and are not accompanied by Demand Draft as afore stated will be summarily rejected.
5. The sealed covers containing tender shall reach the undersigned before 4.30 PM. on 11th September, 2023.
6. The intending purchasers shall be present before the undersigned at his office on 12th September, 2023 at 11.30 am when the tenders will be opened.
7. 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.
8. 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
9. All payments shall be made by way of Demand Draft drawn in favor of The Federal Bank Ltd. payable at Kottayam.
10. The successful bidder shall bear the entire charges / fees payable for conveyance such as stamp duty, TDS, Registration fee etc. as applicable as per Law.
11. No encumbrance in respect of the property prior to the 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. Other encumbrances, if any should be cleared by the purchaser of the property.
12. The tenders offering price below the Reserve Price mentioned above will be rejected.
13. 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.

1. The intending purchasers can inspect the properties between 10 AM and 3.00 PM on 11th September, 2023.
2. The intending purchasers who wish to know further details / conditions may contact the Authorised Officer at his above address or visit Bank's official website i.e.https://www.federalbank.co.in/web/guest/tender-notices
3. The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extend etc of the property, before participation in the auction.
4. If any of the dates mentioned above happens to be a Bank holiday, the very next Bank working day will be considered for that particular event and related events.
5. In case of inter se bidding, the minimum bid multiplier amount is fixed as Rs.50,000/-

Kottayam

For The Federal Bank Ltd.

( Authorised Officer under SARFAESI Act).