Abhyudaya Bank Auction Flat

Hello, I want to know the details of the rules and regulations for the auction sale of the flats or property by the Abhyudaya Bank.

[Shaleen]

Hello, here I am providing you the details of the rules and regulations for the auction sale of the flats or property by the Abhyudaya Bank as under:

The Offer/Tender Forms are available at above mentioned address and the same can be obtained on payment of Rs. 100/- each, The EMD for each property is 10% of Reserve Price.

Tenders/Offers in prescribed form for each property separately, shall be submitted in sealed cover along with Bank Draft/Pay Order for the EMD in favor of Abhyudaya Co-op. Bank Ltd., to the Authorized Officer on or before 09/07/2012 up to 4.00 p.m. at above address and the same will be opened on 10/07/2012 at 11.00 a.m. at Abhyudaya Co-op. Bank Ltd., Jaymangal House, Near Gandhigram Rly Station. Ellisbridge, Ahmedabad-380009.

Tenders quoted above the reserve price will only be considered. Tenderers can increase their offer on opening tenders in bid

The Mortgagor(s) / Borrower(s) / Guarantor(S) may bring prospective bidders/offerers and may also remain present at the time of opening of Tenders on 10/07/2012 at 11.00 a.m

The Successful bidder should deposit 25% of the sale price immediately at the time of sale and balance 75% amount within 15 days from confirmation of sale, failing which the bank shall forfeit the amount already paid by the successful bidder and properties will be forthwith sold again.

Statutory dues like property Tax, Society Dues, Electricity dues etc. and any other dues if any to be ascertained and borne by the tenderers/ offerers.

The Authorized Officer reserves the right to reject any or all tenders and/ or postpone the date and time of opening the tenders or sale confirmation, without giving any reason there of.

The Inspection of properties at Sr.No 1 & 2 will be made available on 22/06/2012 from 11.30 a.m. to 16.30p.m. To the best of knowledge and information of the bank there are no other encumbrances on the above properties.

This publication is also statutory notice of 30 days to the borrowers/owners of the respective properties mentioned above.

The Borrower/Guarantors shall be at liberty to redeem the property from the Mortgage charge before auction.

Dispute if any shall be within the jurisdictions of Ahmedabad court only.

Further information and terms & conditions for sale are available at the above address.

Tenders should submit photo ID along with Tender Form.
Notice for auction sale of immovable properties