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Sale Notice for M/s.Vamshi Industries Ltd.(Project No.1090)

INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LTD

3rd FLOOR, AUGUST KRANTI BHAWAN, BHIKAIJI CAMA PLACE, NEW DELHI 110003

SALE NOTICE

 

FOR MOVABLE & IMMOVABLE PROPERTIES UNDER RULE 6(2) & 8(6) OF THE SECURITY INTEREST (ENFORCEMENT RULES) 2002 UNDER THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND

ENFORCEMENT OF SECURITY INTEREST ACT 2002 (M/s VAMSHI INDUSTRIES LIMITED -PROJECT NO .1090)

 

The Authorized Officer of Indian Renewable Energy Development Agency Limited (IREDA), New Delhi under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act ,2002 (herein after termed as SARFAESI Act 2002) and in the exercise of the power conferred under section 13(2) read with rule 6 & 8 of the Security Interest Enforcement Rules,2002 had issued demand notice dated 30th November, 2009 calling upon the Borrower M/s . Vamshi Industries Limited having its registered office at 2-215/10, Sreenagar Colony, Anaparthy, East Godavari District, Andhra Pradesh - 533342  (Project No.1090) to repay the amount mentioned in the Notice being Rs.10,40,13,427/-(Rupees Ten Crore Fourty Lac Thirteen Thousand Four Hundred Twenty Seven Only) as on 30.09.2009 with further interest, additional interest by way of liquidated damages with other cost, charge and monies till realization within 60 days from the date of receipt of the notice.

As Borrower/Mortgagor/ Guarantor (s), as mentioned in the notice, had failed to repay the said amount, the then Authorized officer of Indian Renewable Energy Development Agency Limited (IREDA) took the possession of the mortgaged properties described herein below in exercise of power conferred under section 13(4) of the SARFAESI Act, 2002, read with Rule 9 on 20.10.2010. The property will be sold along with the movable properties on “AS IS WHERE IS BASIS” by way of auction at IREDA’s Branch Office, at # 5-9-21, Ground Floor, Jeevan Prakash (LIC Building), Opposite Secretariate, Saifabad, Hyderabad, Telangana – 500063. At the sale, the public generally is invited to bid either personally or through duly authorized agent. The interested bidders/buyers shall produce their Original PAN Card/Voter ID/Aadhar Card/Driving License/Passport at the time of auction. Below mentioned assets shall not be sold below the reserve price and Bid without Earnest money will summarily be rejected. The amount by which the biddings are to be increased shall be determined by the Authorized Officer conducting the Sale. In the event of any dispute arising as to the amount of bid, or as to the bidder, the assets at once be again put up to auction. The Successful bidder shall be declared to be the purchaser of property provided that the amount bid by him is not less than the reserve price. Successful/highest bidder shall have to deposit 25% of the bid amount by way of Pay Order/Demand Draft favouring Indian Renewable Energy Development Agency Limited (IREDA) payable at New Delhi or RTGS mode (Balance 15% only) after the fall of the hammer, after adjusting the earnest money, failing which the earnest money shall be forfeited. The purchaser shall deposit the balance 75% of the sale proceeds in the same mode as 25% was deposited to the Authorized Officer, IREDA, 3rd Floor August Kranti Bhawan, Bhikaiji Cama Place, New Delhi -110066 on or before 15th day from the date of sale of the property, exclusive of such day, or if the 15th day be Sunday or any other holiday, on the first day after the 15th day. In case of default of payment within the prescribed period, the property shall be resold, after issue of fresh Sale Notice, the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may be subsequently sold. All expenses relating to the Stamp Duty, Registration etc. are to be borne by the purchaser.

SI.

No

Description of properties

Date of

Demand Notice

Date of

Possession

Date of

Auction. Time and Place

Reserve

Price

Earnest

Money

1.

M/s    Vamshi Industries Limited

(Project  No.1090)  -  All  the  movable

/immovable properties of the Borrower pertaining to 4.00 MW Biomass Based Power Project at  Vemulapalli Village Mandapet Mandal, East Godavari  District  in the state of Andhra Pradesh.

 

Details of Immovable properties/ land:

 

All that piece or parcel of land at  Vemulapalli Biomass based power plant in Sy Nos. , 59/4 and 75, situated at Vemulapalli village, under Dwarkapudi Grampanchayath, Mandapeta Mandal, East Godawari District, Andhra Pradesh State total admeasuring 9 Acres 30 Cents ( Actual boundaries for all the land)

and bounded as follows:-

 

On or towards the East – Land belongs to PSR Poultry 

 

On or towards the West - Road

30.11.2009

20.10.2010

11.09.2018  at

1200 Hours at

IREDA Branch Office, Hyderabad.

Rs.

450.00

lakhs

Rs.45.00

lakhs by

way of Pay Order/D emand Draft to participat e in the bid ( being 10% of the reserve price)

 

On or towards the South - Land of Sairam Poultry.

 

On or towards the North - Anarpathy Poultry Farm

 

Together with all buildings, structures, erections etc. constructed and/or to be constructed thereon both present and future and the plant and machinery attached to the earth or permanently fastened to anything attached to the earth/fixture and fittings erected (installed or to be erected) installed thereon and every part thereof.

 

Details of Movable properties:

 

The movable plant and machinery, machinery spares, tools and accessories pertaining to 4.00 MW  Biomass Based Power Plant

 

 

 

 

 

The original Owner/mortgagor whose property is being sold shall take note of it and make efforts from his end in realizing fair market price of the property. IREDA will be free to dispose-off the property at the best viable price.

Inspection of the aforesaid property can be done on 28th August, 2018. For further details, if any, please contact the Authorized Officer, IREDA’s Office at 3rd Floor August Kranti Bhawan, Bhikaiji Cama Place, New Delhi -110066, mobile No.  9871692922, e-mail: karamvir@ireda.in. and may also contact at mobile No.  9871692920, e-mail: skdey@ireda.in.

 

Other Terms and Conditions

1.   Bidders are required to comply with KYC norms and provide  self-attested KYC documents at the time of depositing EMD (earnest money deposit) amount. The genuinity of the KYC documents is the sole responsibility of the bidder.

2.   The successful bidder shall bear the stamp duties, charges including those of sale certificate, registration charges, all statutory dues payable to government, taxes and rates and outgoing, both existing and future relating to the properties.

3.   The sale certificate will be issued in the name of the successful bidder only upon receiving of  successful bid amount as sale consideration and other charges if any.

4.   The property is sold in “AS IS WHERE IS BASIS” in all respects. The intending bidders should make enquiry with regards to any claim, charges/encumbrances on the properties, of any authority, besides IREDA’s charges and should satisfy themselves about the title, extent, quality and quantity of the property before submitting their bid. For any discrepancy in the property the participating bidder is solely responsible for all future recourses from the date of submission of bid.

5.   No claim of whatsoever nature regarding the property put for sale, charges/encumbrances over the property or on any other matter etc. will be entertained after submission of the bid/confirmation of sale.

6.   The Authorized officer/IREDA will not be responsible for any charge, lien, encumbrance, property tax dues, electricity dues etc. or any other dues to the Government, local authority or anybody, in respect of the property under sale.

7.   Prospective bidders are advised to peruse the copies of title deed and also carry out their own inquires to satisfy themselves regarding title to the property, marketability, right, interest, encumbrances, dues if any, over the property.

8.   The Authorized officer has the absolute right and discretion to accept or reject any bid or adjourn/postpone/cancel the sale or add/delete/change any of the terms and conditions of this sale at any time without prior notice to the owner, bidder, public etc. and without assigning any reason.

Sd/

KARAMVIR

Authorized Officer, IREDA







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