Union Bank of India
ARB- Kolkata
14/1B Ezra Street, Kolkata 700001
E-Mail : ubin0554731@unionbankofindia.bank
By Regd Post & Courier
To
Borrower (s):
Ankita Trading Company
2A, Haralal Das Street
Ground Floor
Kolkata-700014
Partner (S) :
1. Mr Banty Shaw 2. Mr Genty Shaw
Flat No-1A, First Floor (North-East Side) Flat No-1A, First Floor (North-East Side)
Block-A, Amity Apartment, Block-A, Amity Apartment,
65 Dr. Suresh Sarkar Road 65 Dr. Suresh Sarkar Road
KMC Ward no-55, Entally KMC Ward no-55, Entally
Kolkata – 700014 Kolkata – 700014
Dear Sir/Madam,
Sub: Notice of 30 days for sale of immovable secured assets under Rule 8 of the
Security Interest (Enforcement) Rules, 2002.
1. Union Bank of India, ARB Kolkata, 14/1B Ezra Street, Kolkata – 700001, (being
transferred from e-Corporation Bank, Dharamtolla Main Branch), the secured
creditor, caused a demand notice dated 07-12-2021 under Section 13(2) of the
Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act 2002, calling upon you to pay the dues within the time stipulated therein.
Since you failed to comply with the said notice within the period stipulated, the
Authorised Officer has taken possession of the immovable secured assets under
Section 13(4) of the Act read with Rule 8 of Security Interest (Enforcement) Rules,
2002. Possession notice dated 24-02-2022 issued by the Authorised Officer, as per
Appendix IV to the Security Interest (Enforcement)) Rules, 2002 was delivered to you
and the same was also affixed to the properties mortgaged with the Secured Creditor,
apart from publication of the same in newspapers. Please note that as per the said
demand notice you were informed about your right to redeem the property within the
time available under Section 13(8) of Securitization and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. The Borrower/Guarantor
attention in invited to provision of sub section (8) of section 13 of The Act, in respect of
time available, to redeem the secured assets.
2. As you have failed to clear the dues of the secured creditor, the immovable secured
assets that have been taken symbolic possession of by the Authorised Officer, will be
sold by holding public E-auction on 23.02.2023 at 11.00 AM to 4.00 PM by inviting
Bids from the public through online mode on www.mstcecommerce.com.
3. You are also requested to ensure participation by parties interested in buying the
immovable secured assets in the sale as proposed above.
4. A copy of the terms of sale is enclosed for your reference. Please note that the
Auction will be conducted through E-Auction mode on the date and time mentioned in
the enclosed terms of sale.
Yours faithfully,
Place : Kolkata
AUTHORISED OFFICER
Date: 13-01-2023 FOR UNION BANK OF INDIA
Encl: Terms of sale.
TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS:
1. Name and address of the Borrower (s):
Borrower, Co-Applicant and Borrower (s):
Guarantor Ankita Trading Company
2A, Haralal Das Street
Ground Floor
Kolkata-700014
Partners/Guarantor (S) :
1. Mr Banty Shaw
Flat No-1A, First Floor (North-East Side)
Block-A, Amity Apartment,
65 Dr. Suresh Sarkar Road
KMC Ward no-55, Entally
Kolkata – 700014
2. 1. Mr Genty Shaw
Flat No-1A, First Floor (North-East Side)
Block-A, Amity Apartment,
65 Dr. Suresh Sarkar Road
KMC Ward no-55, Entally
Kolkata – 700014
2. Name and address of
the Union Bank of India (e-Andhra Bank)
Secured Creditor : ARB, Kolkata, 14/1B Ezra Street, Kolkata
700001
3. Description of immovable secured assets to be sold
All that part and parcel of the property consisting of -
EMG of Flat No 1A, First floor (North-East Side) Block-A, “Amity Apartment” 65A Dr Suresh Sarkar Road,
KMC Ward no 55, PS-Entally, Kolkata – 700014 admeasuring 1250 sq. Ft (super Built Area) in the Dist-
24 Parganas (south), West Bengal.
The property is butted and bounded by:
On the North by-Dehi Entally Road, Kolkata-700014
On the South by-61, Dr. Suresh Sarkar Road, Kolkata-14
On the East by- 4, Dehi Entally Road, Kolkata-700014
On the West by- Dr. Suresh Sarkar Road, Kolkata-14
4.The details of encumbrances, if NIL
any known to the Secured
Creditor
5. Last date for submission of On or before 22.02.2023 before 5.00 PM the
EMD commencement of e-Auction.
6. Date & Time of auction 23.02.2023, 11.00 AM to 4.00 PM (with 10 min
unlimited auto extensions) E-auction website-
www.mstcecommerce.com
7.The secured debt for the Rs.1,15,63,475.79 as on 06.12.2021 with further
recovery of which the immovable interest, cost & expenses.
secured asset is to be sold:
8.1 Reserve price for the Rs.73,00,000.00
properties below which the (Rupees Seventy three Lacs only)
immovable property may not be
sold:
8.2 EMD Payable Rs. 7,30,000.00
(Rupees Seven lakh and Thirty thousand Only)
9. 1. Registration
The Online E-Auction will be held through web portal/website
www.mstcecommerce.comon the date and time mentioned abovewith unlimited
extension of 10 minutes.
The intending bidders / purchasers required to register through
https://www.mstcecommerce.com/auctionhome/ibapi/index.jspby using their mobile
number and valid email-id. They are further required to upload KYC documents and
Bank Details.
9. 2. KYC Verification
On completion of registration, the intending bidders / purchasers are required to upload
KYC documents and Bank account details. KYC documents shall be verified by e-
auction service provider which may take 2 to 3 working days. Hence the registration and
uploading formalities are to be completed well in advance.
9. 3. EMD Payment
On completion of KYC verification, the intending bidders / purchasers are required to
pay EMD through NEFT/RTGS/NET BANKING/UPI by generating a Challan through
this website in his/their Global EMD Wallet. Payment should be made within 3 days
after generating the Challan for NEFT / RTGS otherwise the Challan shall become
invalid. The payment shall be ensured well in advance before the stipulated time. If the
required EMD amount is not held in their Global Wallet, they will not be allowed to
participate. Payment of EMD in any other mode will not be accepted.
The Earnest Money Deposit shall not bear any interest and in case of unsuccessful bid,
the same will be returned to the unsuccessful bidder by the service provider without
interest.
9.4 Bidding
The bidder has to select the property for which offer is submitted from the list
mentioned in the above website and/ or bidder can directly enter Property ID (as
mentioned in https://ibapi.in). The property will be visible in ‘Live Auctions’ on
www.mstcecommerce.com one day prior to the date of auction.
9.5. Help Desk
For Registration related queries e-mail to ibapiop@mstcecommerce.com
For EMD payment/refund related queries e-mail to ibapifin@mstcecommerce.com.
For Registration and Login and Bidding Rules visit
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp and Click “Buyer Guide for
Login and Registration”
Intending bidders may download at free of cost, copies of sale notice, Terms and
Conditions of e-auction Help Manual on operational part of e-auction from
e-Bkray – IBAPI portal (https://www.ibapi.in)
For auction related queries e-mail to sarfaesi@unionbankofindia.com or contact Union
Bank of India, ARB, Kolkata, 14/1B Ezra Street, Kolkata 700001, Phone:
033 2221 5655/2221 5652, Mobile: Mobile: 8777564842/8584884263- Mr
Rajiv Kumar Verma.
9.6 Steps Involved
Register on e-auction portal www.mstcecommerce.com. using mobile number and
email ID.
Upload requisite KYC Documents.
Generate challan and transfer EMD amount to bidder’s global EMD Wallet.
Submission of bid shall be through Online mode on the auction date and time.
In case of successful Bid, the balance bid amount to be paid as per the terms as
mentioned hereunder.
In case of unsuccessful Bid, request for refund to be made in the MSTC website
and refund will be made directly by the MSTC.
Bidders are advised to go through the website https://www.ibapi.in, and
www.unionbankofindia.co.intenders for detailed terms and conditions of Auction Sale
before submitting their bids and taking part in the E-Auction sale proceedings.
Successful bidder will be intimated through e-mail after the closing of the e-Bidding
Process.
10. The intending bidders may, if they choose, after taking prior appointment from the
Authorised Officer, inspect the immovable/movable secured assets to be sold before the
date of E-Auction.
It shall be the sole responsibility of the bidders to inspect and satisfy themselves about
the secured assets and specification before submitting the bid. On participation by any
person or corporate it shall be deemed that the bidders have fully satisfied themselves
as to the property /assets and claims/ dues affecting the property under Sale in all
respects.
11. In case of bidding the bid increment shall not be less than Rs: 10000/- in excess of
highest bid amount or the immediate preceding bid, as the case may be with multiple
increment value of Rs: 10000/-
12. The sale will be confirmed in favour of the highest bidder and the confirmation of
sale shall be subject to the confirmation by the Secured Creditor.
13. Bids once made shall not be cancelled or withdrawn. The failure on the part of
bidder to comply with any of the terms and conditions of e-auction, mentioned herein
will result in forfeiture of the amount paid by the bidder.
14. The successful bidder so declared by the Authorised Officer shall deposit 25% of the
Sale Price (inclusive of EMD) in Cash/DD/RTGS/NEFT/Internet transfer /Cheque
subject to realisation, immediately on the sale day or not later than next working day
with the Authorised Officer in the account bearing Number 547301980050000 of the
Authorised Officer, Union Bank of India Asset Recovery Branch, Kolkata IFSC Code
UBIN0554731 and the balance 75% of the Sale Price on or before 15th day of
confirmation of Sale or within such extended period as agreed upon in writing between
the secured creditor and the purchaser, in any case not exceeding 3 months.
In the event of failure to tender 25% (15%+EMD) of the sale price as per the terms of
Sale by the successful bidder, the EMD so deposited by him shall be forfeited to secured
creditor and the bid accepted shall stand cancelled automatically and the defaulting
bidder shall neither have claim on the property nor on any part of the sum for which it
may be subsequently sold.
In default of payment of balance amount of purchase price before 15 days from the date
of confirmation of sale by the Secured Creditor or such extended period as may be
mutually agreed upon between the secured creditor and the purchaser (not exceeding 3
months) the deposit of 25% of the amount of sale price made shall be forfeited and the
property shall forthwith be sold again and the defaulting purchaser shall neither have
claim on the property nor on any part of the sum for which it may be subsequently sold.
15. The Authorised Officer may, where the property sold is subject to any
encumbrances, if he thinks fit, allow the purchaser to deposit with him the money
required to discharge the encumbrances and any interest due thereon together with
such additional amount that may be sufficient to meet the contingencies or further
costs, expenses and interest as may be determined by him.
On such deposit of money for discharge of encumbrances, the Authorised Officer may
issue or cause the purchaser to issue the notices to the persons interested in or entitled
to the money deposited with him and take steps to make the payment accordingly.
16. On confirmation of sale by the secured creditor and if the terms of payment have
been complied with by the successful bidder, the Authorised Officer shall issue a
certificate of sale of immovable property in favour of the purchaser in Appendix-V to the
Security Interest (Enforcement) Rules, 2002
17. Legal charges for conveyance, stamp duty, registration charges and other incidental
charges as applicable shall be borne by the successful bidder only.
18.As per Section 194-IA of the Income Tax Act 1961, TDS @ 1% will be applicable on
the sale proceeds where the sale consideration is Rs.50,00,000/- (Rupees fifty lakhs)
and above. The successful bidder/purchaser shall deduct the TDS from the sale price
and deposit the same with the Income Tax Department in Form No. 16-B, containing the
Bank’s name and the PAN number as a seller and submit the original receipt of the TDS
Certificate to the Bank. (Applicable for immovable property, other than Agricultural
land)
19. The Authorised Officer will deliver the property on the basis of Constructive
possession taken on as is where is basis (No.17 Mention whichever applicable), to the
purchaser free from encumbrances, known to the Secured Creditor on deposit of money
by the purchaser towards the discharge of such encumbrances.
20. The certificate of sale will be issued specifically mentioning whether the purchaser
has purchased the immovable/movable secured assets free from any encumbrances
known to the secured creditor or not. No request for change of name in the sale
certificate other than the person who submitted the bid/participated in the auction shall
be entertained.
21. The unsuccessful Bidders who have deposited EMD shall be entitled to have the
same refunded without any interest immediately after the confirmation of sale by the
Authorised Officer in favour of successful bidder. The unsuccessful bidder is required to
place request for refund with
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp.
The EMD of unsuccessful bidders will be refunded on request to their respective A/c No.
as registered in e-Auction Portal www.mstcecommerce.com. The bidders will not be
entitled to claim any interest, costs, expenses and any other charges (if any).
22. If the Borrower were to pay to the Authorised Officer the entire amount due, with
the up-to-date expenses including the expenses / charges / cost in taking possession
and conducting the sale, to the secured creditor before e-Auction, the sale by E auction
may be cancelled by the Authorised Officer.
23. Bank, the Secured Creditor, reserves the right to accept / reject the highest bid
without assigning any reason thereof or to cancel the sale.
24. In case any dispute arises as to the validity of the bid(s), amount of bid, EMD or as
to the eligibility of the bidder, authority of the person representing the bidder, the
interpretation and decision of the Bank shall be final. In such an eventuality, the Bank
shall in its sole discretion be entitled to call off the sale and put the property to sale
once again on any date and at such time as may be decided by the Bank
25. The bank/service provider for e-auction shall not have any liability towards bidders
for any interruption or delay or technical snag in access to the site irrespective of the
causes.
26. The above movable/immovable secured assets will be sold in “As is where is”, “As
is What is” and “whatever there is” condition.
27. The Sale shall be subject to the outcome of pending WPA/4830/2022, High Court
Kolkata.
28. The entire sale consideration shall be exclusively available for appropriation towards
dues to the Bank and it is exclusive of encumbrances of all statutory dues and other
dues if any, shall be settled by the proposed purchaser out of his own sources.
29. To the best of information and knowledge of the Authorised Officer, there is no
encumbrance on the property. However the intending bidders should make their own
independent enquiry regarding the encumbrances, title of the property put to auction
and the claims / rights/ dues affecting the property, prior to submitting their bid. The E
Auction advertisement does not constitute and will not be deemed to constitute any
commitment or any representation of the Bank to sell the property.The Authorised
Officer/ Secured Creditor shall not be responsible in any way for any third party
claims/rights/dues.
Place: Kolkata AUTHORISED OFFICER
Date : 13-01-2023 FOR UNION BANK OF INDIA
