Federal Bank : Sale Notice - Nilesh Lunagariya

Loan Collection & Recovery

Department / Mumbai Division

SALE NOTICE

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 Federal Bank Ltd (hereinafter referred to as 'the Bank') through its Authorized Officer under the Act issued a demand notice dated 08/05/2019 calling upon the borrowers namely (1) Mr. Lunagariya Nilesh Kanjibhai and (2) Mrs. Lunagariya Heenaben Nilesh both residing at Purva Villa, Shri Society, Street no. 2, Plot no 34/1, Near Panchvati Society, Main Road, Rajkot - 360005, to repay the amount mentioned in the said notice being Rs.3,22,25,793.00 ( Rupees Three Crore Twenty Two Lakhs Twenty Five Thousand Seven Hundred Ninety Three only) together with interest, costs and other charges within

60 days from the date of the said notice.

Whereas the Borrower(s)/guarantor(s) having failed to repay the amount within the stipulated time, the undersigned on behalf of The Federal Bank Ltd. has taken possession of the properties 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 12/09/2022 by issuing a notice to the borrowers / guarantors / defaulters and general public and publication thereof in news papers as contemplated under the said Act and Rules.

The undersigned hereby gives notice to the borrower(s) and/or guarantor(s) and/or defaulters and general public that the Bank has decided to sell on 20/06/2024 the properties described herein below on "AS IS WHERE IS, AS IS WHAT IS & WHATEVER THERE IS BASIS" under Rules 8 & 9 of the said Rules for realising an amount of Rs. 5,86,95,826.00 (Rupees Five Crore Eighty Six Lakh Ninety Five Thousand Eight Hundred Twenty Six Only) as per claim filed in O.A. 208 of 2024 before Debt Recovery Tribunal - II, Ahmedabad together with further interest and costs/other charges and thus the undersigned hereby invites from interested parties sealed tenders for purchasing the properties subject to the terms and conditions mentioned hereunder.

"While we call upon you to discharge your liability as above by payment of the entire dues to the Bank together with applicable interest, all costs, charges and expenses incurred by the bank till repayment and redeem the secured asset, within the period mentioned above, Please take important note that as per section 13(8) of the SARFAESI Act 2002, (as amended), the right of redemption of secured asset will be available to you only till the date of publication of notice for publication or inviting tenders from public or private treaty for transfer by way of lease, assignment or sale of the secured asset."

Description of the Property

All that piece & Parcel of Residential House bearing sub plot no 34/1 of Plot no 34 admeasuring

1. sq mtrs., Shri Ghar Bandhanari Sahakari Mandli Ltd, Prankuti Society Police Chowki, Main Road, situated on Land bearing city survey ward no. 15/2, City Survey no. 4269 of Revenue Survey no. 436 Paikee, F. P. no 250/P, O.P. no. 38 of T.P. no. 2, Taluka: Rajkot, District Rajkot, Gujarat. Bounded in East by 7.6 mts. Road, West by 9.14 mtrs. Road, North by sub plot no 34/2 and South by

1. mts. Road.

Terms and Conditions

1. The Reserve price below which the properties will not be sold for is Rs. 2,55,00,000.00 (Rupees Two Crore Fifty Five Lakhs Only).
2. The properties will be sold by e-auction through the Bank's approved service provider M/S
   E-Procurement Technologies Ltd. - Auction Tiger on 20-06-2024 between 11 AM to 1 PM under the supervision of the Authorised officer of the Federal Bank.

The Federal Bank Ltd., Loan Collection & Recovery Department / /Mumbai Division, 134, 13th Floor, Jolly Maker Chambers II,

Nariman Point, Mumbai 400 021. E-mail:mumlcrd@federalbank.co.in| Phone : 022 - 22022548, 22028427