Terms and Conditions

  1. The property will not be sold below the Reserve Price   mentioned against each property. 

 

  1.  The intending purchasers shall submit/send their tender quoting the price offered by them in the format given as Annexure 1,  in a sealed cover along with the EMD amount of Rs.10,000/-(Rupees Ten thousand only) by Demand Draft favouring the “Urban Co-operative Bank Ltd., Perinthalmanna” or details of remittance made towards EMD by RTGS/NEFT to “The Authorised Officer, Recovery Section, Perinthalmanna Urban Co-operative Bank Ltd.” so as to reach before 5 pm on 25th October 2023.

 

  1. The details for remittance of EMD by RTGS/NEFT is as follows

 - A/c No.9999007000000001, IFSC No.URBN0000001

 

  1.  The intending bidders should submit copy of their Aadhaar Card and PAN card as identity proof. 

 

  1.  Tenders which are not duly filled, sealed and/or are not accompanied by Demand Draft or proof of RTGS/NEFT for the EMD amount , as afore stated, will be rejected.

 

  1.  The intending purchasers shall be present before the undersigned at his office at 10.00 AM on 26/10/2023 when the tenders will be opened.  

 

  1.  After opening the tender, the intending bidders may be given opportunity at the discretion of the authorised officer to have, intere se bidding among themselves to enhance the price.

 

  1.  The successful bidder shall deposit 25% of the bid amount/sale price inclusive of the EMD immediately on acceptance of his tender/offer by the Bank and the balance 75% within 15 days failing which the entire deposit made by him shall be forfeited without any notice and property concerned will be re-sold.

 

  1.  The Authorized Officer reserves his right to modify the terms and conditions of payment.

 

  1. All payments shall be made by way of Demand Draft drawn in favor of The Urban Co-operative Bank Ltd, Perinthalmanna payable at Perinthalmanna or through RTGS/NEFT to A/c No.9999007000000001, IFSC No.URBN0000001

 

  1.  The successful bidder shall bear the entire charges/fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.

 

  1.  The tenders offering price below the Reserve Price mentioned above will be rejected.

 

  1.  The Authorized Officer has the absolute right to accept or reject the bid/all or any tender including the highest tender or adjourn/postpone the sale without assigning any reason.   The decision of the Authorized Officer/Bank shall be final.

 

  1. The intending purchasers who wish to inspect the property and/or know further details/conditions may contact the Authorised Officer, The Perinthalmanna Urban Cooperative Bank Ltd., Phone:04933 226973, 226976, email ucbprecovery@gmail.com or visit banks website at www/ucbperinthalmanna.com

 

  1.  The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extent etc. of the property, before participation in the auction.

 

  1.  If any of the dates mentioned above happens to be a Bank holiday the very next Bank working day will be reckoned for that particular event and the next event/events will automatically give adjourned to the next Bank working day.

 

  1.  In case of inter se bidding, the minimum bid multiplier amount is fixed as Rs.10,000/- (Rupees Ten thousand only)

 

 

 

 

 

AUTHORIZED OFFICER

 

 

Perinthalmanna,

20th September 2023.