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TENDERS

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SOUTH MALABAR GRAMIN BANK

HEAD OFFICE : : MALAPPURAM

BID CUM AUCTION SALE NOTICE

SALE NOTICE OF IMMOVABLE PROPERTIES BY INVITING BIDS UNDER RULES 8(6) & 9 OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002

Notice is hereby given to the public in general and the borrowers in particular by the Authorized officer that the immovable properties mortgaged to the Edavanna branch described herein, taken In possession under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of security Interest Act 2002 and Security Interest (Enforcement) Rules 2002, will be sold by inviting bids as mentioned below for recovery of dues and further cost & interest as detailed below.

Sealed Bids are invited from the intending bidders for sale of the under mentioned property on the following terms and conditions.

Name and Address of the Secured creditor      South Malabar Gramin Bank,                                                                Edavanna Branch

Name and Address of the                                                                   Borrower & Motogager                         1. P.K Somanath, S/o Gopi                                                        2. Valsala Kumari, Wlo P.K Somanath,                                                            Parayil House, (PO) Patllappiriyam

3. Total Liabilities:                             Rs. 6,57,1801- as on 31.07.2009 +                                                         upto date interest + other expenses

4. Last dale and time for receipt of Bid       : 26.10.2009  3pm

5. Address in which the Bid to be                                                      submitted                                     : The General Manager                                                      South Malabar Gramin Bank,                                                      R&L Section, H.O S.M.G.B Towers,                                                      Malappuram. P.O 676505

6. (a) Date and time of opening of the Bids  : 28.10.2009 11am

(b) Place of opening of the Bidls : South Malabar Gramin Bank, HO: S.M.G.B                                              Towers, A.K Road, Malappuram, Pin 676505

7. Details of property lies : 10.75 cents in RS 183110 of Edavanna Village,                                        Pathappiriyam Amsom, Ernad Thaluk,                                        Malappuram Dist.

                                   : on the North - Property of sahadevan                                        on the South - Road                                         on the East - Mansoor Kudiyirippu                                        on the West - Pathway

8. Reserve price              . Rs. 7,00,000/-

9. EMD Amount                : Rs. 35,000/-

Other terms and conditions

(a) Tile property will be sold in "AS IS WHERE IS BASIS' and "AS IS WHAT IS BASIS" and "WHATEVER THERE IS BASIS" condition including encumbrances, if any. (There are no other encumbrances to the knowledge of the Bank) statutory dues like property tax, eleL1ricity bill etc. should be ascertained by the prospective purchaser

(b) The property will not be sold below the reserve price.

(c) The property can be inspected on 21.1 0.2009 between 3pm and 5 pm

(d) The intending Bidder shall submit their Bids in plain paper in a sealed cover superscribing "Bids for the purchase of landed property owned by 1. Sri. P.K Somanath & Smt. Valsala Kumari mortgaged to South Malabar Gramin Bank, Edavanna Branch "along with Earnest Money Deposit(EMD) of Rs. 35,0001- being 5% of reserve price by way of DO favouring, South Malabar Gramin Bank, payable at Malappuram on or before 26.10.2009 at 3pm.

(e) The sealed quotation will be opened by the authorised officer in the presence of available/attending Bidders on the date and time mentioned above ie. 28.10.2009 11am.

( f) After opening the Bids of the intending Bidders, Bidders will be given an opportunity at the discretion of the authorised officer to have inters Bidding among them to enhance the offer price. In such an event, the highest Bidder will be the successful Bidder.

(g) Sale shall be confirmed in favour of the successful Bidder, subject to confirmation of the same by the appropriate Authority of the Bank.

(h) The successful bidder shall deposit 25% of the sale price (inclusive of EMO already paid), immediately on the allotment Ii of bid in his/her favour and the balance within  15 days from  the date of confirmation of sale. If the successful bidder fails to pay the sale price as Slated above, the deposit made by him shall be forfeited.

( i) All charges for Conveyance, stamp duty and registration charges etc., as applicable shall be borne by the successful Bidder only.

( j) Authorised officer reserves the right to postpone/cancel or vary the terms and conditions of the Bid without assigning any reason thereof.

(k) For further details - contact HO: R&L wing (Ph: 0483-2736640)/ Edavanna Branch (Ph: 0483-2700464)  during office hours on any working day

( I) The borrower/guarantor/mortgagor is at liberty to participate in the auction to be held on the terms and conditions here above.

Place: Malappuram                                                                 s/d

Date: 19.09.2009                                                   Authorised Officer                                                                    South Malabar Gramin Bank

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