Tambaram Divisional Office

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7/73, FIRST FLOOR, SBA COMPLEX, VENKATESA CHOUDRY STREET, WEST TAMBARAM, CHENNAI - 600 045. Ph : 044-22267017/22267057 Mail id : [email protected]
In exercise of powers conferred under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Security Interest (Enforcement) Rules, 2002 and pursuant to the possession of secured assets of the borrower taken by Authorised Officer for recovery of the secured debts dues to The Karur Vysya Bank Ltd, Tiruvallur Branch, amounting to Rs.31,21,296.37 (Rupees Thirty one lakhs twenty one thousand two hundred ninety six and paise thirty seven only) as on 26.11.2020 with interest and expenses thereon from 27.11.2020 from the borrower Mr.V.Rajkumar, S/o. Mr.G.Vijayan, No.46, Vinayakar Koil Street, Kosavanpalayam Post,
Thirupachur, Thiruvallur – 602 001.
Whereas the undersigned has decided to put up for E-auction of the immovable property, offers are invited by way of E-Tender for purchase of the following assets on “AS IS WHERE IS”, “AS IS WHAT IS”, AND “WHATEVER THERE IS” basis.
DESCRIPTION OF THE IMMOVABLE PROPERTY All that piece and parcel of vacant land measuring an extent of 1430 sq.ft comprised in S.F.No. 261/33B (Old Nos. 227 & 261), Southern part of Plot No.145, No.75 Kakkalur Village, Tiruvallur Taluk and District, situated within the Registration District of Kancheepuram and Sub Registration District of Tiruvallur with the following boundaries: East : Plot No.144 West : Road leading from North to South North : Vacant site belonging to Nandagopal South : Northern Part of Plot No.145 belonging to Mr.Ayyasamy
Measuring East to West on both sides 65 feet and North to South on both sides 22 feet.
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Reserve Price Rs.23,16,600.00

EMD (10% of Reserve Price)

Bid Amount Incremental Rs.10,000.00

Inspection of the Asset Last date and time for submitting online Tender & Application Forms Date and Time of E-Auction
Nodal Bank account Name
Contact Person & Phone No

All working Days – From

02.12.2020 to 19.12.2020

between 11.00 am to 5.00 pm

Date: 19.12.2020 Time: 05.00 PM

The E-Auction will take place





21.12.2020 between 1.00 p.m to

2.00 p.m with unlimited

extensions of 10 minutes each

till sale is concluded.

The Karur Vysya Bank Ltd, Central office in favour of A/c. Mr.V.Rajkumar Account No:1101351000000973, IFSC Code : KVBL0001101.



Mr.N.Karthikeyan (Thiruvallur


Phone: 044 27666367 /


Email: [email protected]

The E-tenders should be accompanied with EMD remittance details. EMD should be remitted through RTGS / NEFT to Nodal Bank Account without time lag, failing which the tender becomes disqualified or The EMD of 10% of the Reserve Price can also be paid by of a Demand Draft/Pay Order drawn in favour of The Karur Vysya Bank Ltd, Payable at Thiruvallur along with Bid Form.
TERMS AND CONDITIONS OF THE E-AUCTION ARE AS UNDER 1. E – Auction is being held on ““AS IS WHERE IS”, “AS IS WHAT IS”, AND “WHATEVER THERE IS” BASIS”. 2. The E-auction will take place through portal www.kvb.auctiontiger.net on 21.12.2020 from 1.00 pm to 2.00 pm with unlimited extensions of 10 minutes each, till the sale is completed.
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3. For detailed procedure and terms and conditions of E-Auction, interested

bidders may visit www.kvb.auctiontiger.net and download relevant documents.

Interested bidders may also get in touch with service provider on below mentioned

contact numbers.

4. It shall be in the discretion of the Authorized Officer to cancel the auction

proceeding for any reason and return the EMD submitted and Bank would not

entertain any claim or representation in that regard from the bidders.

5. Particulars specified in respect of the said property in the above schedule have

been stated to the best of the information of the Authorized Officer.

6. The intending purchaser / bidder is required to submit amount of EMD and

register their name at www.kvb.auctiontiger.net to the above mentioned account and

get user ID and Password free of cost and get training on E-Auction from Mr.Praveen







[email protected]


[email protected],

[email protected]; 079-40230830/816/817-820. Fax No.079-

40016816/876. Cheques will not be accepted for EMD. Bidders are required for

participating in the E-auction to hold Digital Signature Certificate and also to

furnish the details in the Auction Application Form available on the site.

7. The said EMD shall be adjusted in the case of highest bid, otherwise it will be

refunded. The earnest money deposit will not carry any interest. Brokers / Middlemen

shall not be entertained.

8. The sale shall be confirmed in favour of the purchaser who has offered the

highest sale price in his bid to the Authorized Officer and shall be subject to

confirmation by the Bank.

9. The purchaser shall deposit 25% of the amount of sale price after adjusting the

Earnest Money Deposit within 24 hours (Banking Days) of acceptance of highest bid

by the Authorized Officer in respect of sale, failing which the Earnest Money Deposit

shall be forfeited. The highest bidder shall be declared to be the purchaser of the

properties mentioned herein provided he should be legally qualified to bid at all stage.

10. The balance 75% of the sale price shall be paid by the purchaser on or before

15th day (during banking hours) of confirmation of sale by the Authorized Officer or

such extended period as agreed upon in writing by and solely at the discretion of the

Authorized Officer.

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11. In default of payment of sale price or any part thereof within the period(s) mentioned hereinabove, the deposit(s)/ Part payment shall be forfeited and the property shall be resold and the defaulting purchase shall forfeit all claims to the property or any of the sum for which it may be subsequently sold. 12. On confirmation of the sale by the Bank and or compliance of the terms of payment the Authorized Officer shall issue a certificate of sale of the said property in favour of the purchaser in the form given in Appendix V to Enforcement of Security Interest Rules. 13. The Authorized Officer is not bound to accept the highest bid or any or all bids and reserves the right to accept or reject any or all the bids without assigning any reason thereof and his decision will be final binding on all the parties attending the auction. 14. Participation by any person in the sale shall be treated as conclusive evidence of the fact that the party has inspected the property offered for sale and satisfied himself about the title, measurement, extent, boundaries and location of the property. It shall also imply and be taken for granted that the party has carefully gone through and understood the terms and conditions of auction including the amendments if any, prevailing at the time of auction bid. No objection shall be entertained by the Bank and or the Authority after the bid is accepted. 15. The successful purchaser would bear all the charges / fees payable for conveyance such as stamp duty, registration fee, applicable GST (Goods and Service Tax) and all other taxes etc, as applicable as per law of Government of India and state of Tamilnadu and other Authorities. 16. Delivery / possession should be taken by the purchaser or his authorized representative against proper authorization letter only and it should be completed within the time schedule at their own risk, cost and arrangement and they will not be entitled to claim any facility or assistance or cost on this account from the Bank. 17. Any other conditions / changes / amendments to the auction terms and conditions, if made, and which are not incorporated in these terms and conditions will be announced at the time of auction which will be binding on the bidders. 18. The Bank reserves its right to accept / reject any bid, withdraw any property at any stage from auction sale after acceptance of the deposit amount for full value by
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the buyer, without assigning any reason thereof and value of such properties if paid

for, shall be refunded.

19. The Bank shall not be responsible for any damage or loss, whatsoever, to

purchaser on account of such withdrawal.

20. The property/ies will be put for auction as per the convenience of Bank and it is

not obligatory to go serially if the properties are more in number.

21. The properties shall remain in every respect at the risk of the purchaser from

the date of acceptance of their offer and the Bank shall have no liability for the safe

custody or preservation thereof till the date of delivery / taking possession by the


22. To the best of the knowledge and information of the Authorized Officer no other

encumbrance exists on the properties.

23. All persons participating in the E-Auction should upload and submit his / their

sufficient and acceptable proof of his / their identity, residence, and authority and

also PAN / TAN cards etc.


Participation by anyone in this sale shall be treated as conclusive evidence of

the fact that the party has inspected the assets offered for sale and satisfied

himself/herself in all respects and the principle “Caveat Emptor” (let the buyer

beware) will apply.


As per the Section 194 -1A of the Income Tax Act 1961, TDS @1% will be

applicable on the sale proceeds where the sale transaction is Rs.50,00,000/-(Rupees

Fifty Lakhs) and above. The successful bidder /purchaser shall deduct 1% TDS from

the Sale Price and deposit the same with the income tax department in Form No.16B,

containing the Bank’s Name and the PAN No. AAACT3373J as a seller and submit the

original receipt of the TDS Certificate to the Bank.

26. The sale is subject to the conditions prescribed in the SARFAESI Act, Rules 2002, amended from time to time and the conditions mentioned above. Special Instructions: Bidding in the last minutes and seconds should be avoided in the bidders own interest Neither The Karur Vysya Bank Ltd nor Service Provider will not be held responsible for any lapses / failure (Internet Failure, Power Failure etc.,) on the part of the vendor, in such cases, in order to ward-off such contingent situation bidders are requested to make all the necessary arrangements / alternatives such as back-up power supply

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whatever required so that they are able to circumvent such situation and still be able to participate in the auction successfully.
Statutory 15 days’ Notice under Rule 8(6) r/w 9(1) of the SARFAESI Act, 2002 The borrower is hereby notified to pay the dues as mentioned above along with up to date interest and ancillary expenses before the date of e-Auction, failing which the Schedule property will be auctioned/sold and balance dues, if any, will be recovered with interest and cost.

Date : 27.11.2020 Place : Chennai Tambaram

Authorized Officer The Karur Vysya Bank Ltd.,

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Tambaram Divisional Office