REMAINING DETAIL OF PROPERTY APART FROM THE DETAIL PROVIDED IN LOTS DESC IS AS FOLLOWS.

Item No.V All that piece and parcel of undivided share of land together with the shop No.1, Old No.21/1, New No.57,T.S.No.5573, Ranganathan Street, Ground floor, T Nagar, Chennai  600 017 measuring plinth area of 337.25 sq.ft.

Item No.I to V with building thereon are bounded on the:North by Ranganthan Street South by Natesan Street East by Shobha Textiles West by Perinba vilas complex

Property in the name of M/s.R.A Samy Trading Pvt.Ltd. Bank Branch Name: Virugambakkam Branch

Reserve Price:Rs 550000000/-

EMD: Rs 55000000/-

Bid Multiplier:Rs 50000/-

Time of Inspection:between 11.00 AM to 4.00 PM.

Last date of submission of BID Form with EMD:05.05.2014

THE E-AUCTION SALE IS GOVERNED BY THE GENERAL TERMS & CONDITIONS (GTC), BUYER SPECIFIC TERMS & CONDITIONS (BSTC) AND SPECIAL TERMS & CONDITIONS (STC) OF THE E-AUCTION & SARFAESI ACT 2002 . INCASE OF ANY CONFLICT OR DIFFERENCES AMONG ANY PROVISIONS OF GTC, BSTC & STC, THE PROVISIONS OF SARFAESI ACT 2002 WILL PREVAIL.

SALE OF IMMOVABLE PROPERTY MORTGAGED TO THE BANK UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

MSTC Limited is acting only as a service provider for this e-auction and shall not be a party to the contract between the Seller and the Buyer subsequent to this e-auction. By bidding in this e-auction, a bidder acknowledges that MSTC Limited shall not be held responsible for any loss that he/she/they may suffer as a consequence to this e-auction

Name of the Borrower: (i) M/s R.A Samy Trading Pvt   Ltd, (Shanmuga Stores)  No.21, Ranganathan Street,  Chennai. 600 017. ii)Mr.R,Arumugasamy, (Director  of M/s  R.A Samy  Trading pvt Ltd )No.72/2, Kazura Gardens East Coast Road, Neelankarai, Chennai  600 041.iii)Mrs Easwari Samy(Director  of M/s  R.A Samy  Trading pvt Ltd )No.72/2, Kazura Gardens, East Coast Road, Neelankarai, Chennai  600 041.

1. Help Desk Numbers.
a. i) M/s MSTC Limited, 225 F, 2 nd Floor, AJC Bose Road, Kolkata - 700020, contact no. 9903042449/9830924222, 033-22891401, e-mail: vikash@mstcindia.co.in, sanjibpoddar@mstcindia.co.in, arunkumar@mstcindia.co.in and M/s MSTC Limited, Southern Regional Office, 2nd floor, Leelavathi Building, No.69, Armenian Street, Chennai-600001, contact No.044-25222842, 25251910

b. United Bank of India: The Manager, VIRUGAMBAKKAM BRANCH, No.83, Arcot Road, Virugambakkam, Chennai-600 092.  Ph :044- 23775844. 

2. Intending bidders shall hold a valid e-mail address.

3. The EMD shall be remitted through EFT/NEFT/RTGS in to the credit of A/c No.15750114080011 of United Bank of India, VIRUGAMBAKKAM BRANCH, No.83, Arcot Road, Virugambakkam, Chennai-600 092.  Ph: 044- 23775844, IFSC Code UTBI0VKM854 or through DD/PO drawn in favour of United Bank of India, payable at Chennai.

On receipt of EMD and Bid Form, the prospective bidders shall be allowed to participate in the e-auction on the website of the service provider, i.e M/s MSTC Ltd.

4. Bid form in the prescribed formats may be submitted to Branch Manager, United Bank of India, to the above address. The Bid Form and EMD received late for any reason whatsoever will not be entertained. Bank reserves the right to accept or reject any or all tenders without assigning any reason whatsoever. Bid Form can be obtained from www.mstcindia.co.in

5. Bid form without EMD shall be rejected summarily.

6. Online auction will start automatically on and at the time mentioned above. However, the closing time of e-Auction will be automatically extended up to last Bid time, plus 8 minutes, so that opportunity is given to other Bidders for making an improved Bid on that item.

7. The property will not be sold below the reserve price. The property shall be sold to the highest bidder.

8. Encumbrances known to the creditor /Bank such as notice received from Commercial Tax Officer claiming Tax dues or office of the Deputy Commissioner of Service Tax, if any, shall be enquired by the interested bidders from concerned departments, before bidding.

10. The property will not be sold below the reserve price. The property shall be sold to the highest bidder. The successful bidder shall deposit 25% of sale price (less EMD) within 24 hours and the balance amount of sale price to be paid within 15 days from the date of auction without giving any notice or such extended period as may be allowed and communicated in writing by authorized officer.

11. The successful bidder shall have to deposit 25% of the bid/sale amount less EMD within 24 hours through EFT/NEFT/RTGS/DD/PO to the following Account No.15750114080011 The successful bidder shall have to deposit balance 75% of the bid amount through EFT/NEFT/RTGS/DD/PO to the above account.

12. In case of default in payment of sale price or any part thereof within the period(s) mentioned hereinabove, the EMD and/or initial deposit(s) as the case may be, shall be forfeited and the property shall be sold again through auction. The highest bidder / successful purchaser will have no right on the said property. The EMD of the unsuccessful bidder(s) will be refunded after completion of e-auction sale or within 15 days as the case may be. The EMD will not carry any interest.

13. The sale certificate will be issued in favour of the purchaser (as per Bid form) only, after payment of entire sale price amount.

14. The property is being sold as AS IS WHERE IS AND AS IS WHATEVER IS BASIS under Rule 8 & 9 of Security Interest (Enforcement) Rules 2002. The purchaser should make their own inquiries regarding any statutory liabilities, arrears of property tax, claims etc. by themselves before making the bid.

15. 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 or cancel, postpone the e-auction without assigning any reason thereof.

16. The successful bidder/s shall bear all the charges/taxes/rates payable for conveyance such as stamp duty, additional stamp duty, registration fee etc. as applicable as per laws of Government of India and State Laws and other Authorities.

17. All statutory/non statutory dues, taxes, rates, assessments, charges, fees etc. owing to anybody will be the responsibility of the buyer only.

18. Before participation in the e-Auction, a prospective buyer shall be required to get itself/himself registered with MSTC. To register, a buyer need to fill an online form in the web site www.mstcecommerce.com/auctionhome . After filling the online form an automated e-mail shall be send at the e-mail provided by the buyer requesting to submit certain documents like PAN Card, Address Proof, Bank detail, Copy of latest Income tax return, Sales Tax/VAT/TIN certificate, if applicable along with registration fee. On receipt of the documents the buyer shall be allowed to participate in the auction. The bidders other than individuals shall also upload proper mandate for e-bidding. User Id and password is generated by the buyer himself during online registration.

19. If the borrower/guarantor pays in full the amount due to the satisfaction of the bank, before the auction date, the e-auction will not be acted upon and necessary communication will be sent.

20. The sale is subject to confirmation by the secured creditor bank

21. Neither UBI nor Service provider will be responsible for any lapses/failure on the part of the bidder, in such cases. To ward off such contingent situations, bidders are requested to make all necessary arrangements/alternatives such as back-up power supply whatever required.

22. Prospective bidders are advised to peruse the copies of Title deeds with the Bank and verify the latest Encumbrance Certificate and other Revenue/Municipal records to exercise due diligence and satisfy themselves on the Title and Encumbrance, if any over the property.