Pandri Branch, Now UMFB Branch, Dhand Campus, Telibandha, District- Raipur (C.G.)-492001.

Email id :[email protected]

To,

M/S Punjab Auto Mr. Harjeet Singh Dua, Mr. Jaspreet Kour Dua,
Bhatagaon, Ring Road Flat no.1, Ground Floor, Flat no.1, Ground Floor,
No.1, Raipur, Orchid Block No.1, Green Orchid Block No.1, Green
Chhattisgarh.492001. Earth City, Amleshwar, Patan,
Durg, Chhattisgarh.
Earth City, Amleshwar, Patan,
Durg, Chhattisgarh.

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 Pandri Branch, Now UMFB Branch, Dhand Campus, Telibandha, District-
Raipur (C.G.)-492001 the secured creditor, caused a demand notice dated 09.10.2022 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
AuthorisedOfficer 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 09.01.2023 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

2. As you have failed to clear the dues of the secured creditor, the immovable secured assets
that have been taken possession of by the Authorised Officer, will be sold by holding public E-
auction on 27.06.2023 at 11:00 am by inviting Bidsfrom 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

Date: 20.05.2023.
Place: Raipur.

Encl: Terms of Sale

Authorised Officer
 TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS

1. Name and address of the Borrower, 1. M/S Punjab Auto, Bhatagaon, Ring Road No.1, Raipur,
Co-Applicant and Guarantor Chhattisgarh.492001.
2. Mr. Harjeet Singh Dua, Flat no.1, Ground Floor, Orchid
Block No.1, Green Earth City, Amleshwar, Patan, Durg,
Chhattisgarh.
3. Mr. Jaspreet Kour Dua, Flat no.1, Ground Floor, Orchid
Block No.1, Green Earth City, Amleshwar, Patan, Durg,
Chhattisgarh.
2. Name and address of the Secured Pandri Branch, Now UMFB Branch, Dhand Campus, Telibandha,
Creditor : District- Raipur (C.G.)[email protected]
Description of immovable secured assets to be Sold:

Residential Property at Flat no.106, Ground Floor, Orchid block No.1, Greenearth city,
village-Amleshwar, Patan, Durg, Chhattisgarh measuring an area of 584.22 Sq. Ft. in the
name of Mrs. Jaspreet kour Dua.
4.The details of encumbrances, if any Not known
known to the Secured Creditor
5. Last date for submission of EMD On or before the commencement of e-Auction.
6. Date & Time of auction 27.06.2023 between 11:00 am to 5:00 pm(with 10 min unlimited
auto extensions) E-auction website-www.mstcecommerce.com
7.The secured debt for the recovery Rs. 22,71,000.00 (Rupees Twenty Two Lakh Seventy One Thousand
of which the immovable secured asset only)+ interest since 01.01.2023 + Legal & other charges
is to be sold:
8.1Reserve pricefor the properties Rs.1800000.00
below which the immovable property
may not be sold:
8.2 EMD Payable Rs. 180000.00
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.jsp by 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 [email protected]
For EMD payment/refund related queries e-mail to [email protected].
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 atfree 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 [email protected] or contactPandri Branch, Vidhan Sabha
Marg, Pandri Raipur (C.G.) PIN- 492001.
,Emailid. [email protected]
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, andwww.unionbankofindia.co.in
tenders 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 0.18 lacs in excess of highest bid amount or
the immediate preceding bid, as the case may be with multiple increment value of Rs.0.18 lacs.
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 A/c No-
557501980050000, Union Bank of India, Pandri Branch through IFSC Code UBIN0555754and 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 PANnumber 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 symbolic possession takenon as is where is
basis, 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 SA No.527/2022 pending, if any. NA

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:Raipur.
Date: 20.05.2023. AUTHORISED OFFICER
FORUNION BANK OF INDIA