Terms and Conditions
- The property will not be sold below the Reserve Price mentioned against each property.
- 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.
- The details for remittance of EMD by RTGS/NEFT is as follows
- A/c No.9999007000000001, IFSC No.URBN0000001
- The intending bidders should submit copy of their Aadhaar Card and PAN card as identity proof.
- 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.
- 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.
- 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.
- 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.
- The Authorized Officer reserves his right to modify the terms and conditions of payment.
- 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
- The successful bidder shall bear the entire charges/fees payable for conveyance such as stamp duty, Registration fee etc. as applicable as per Law.
- The tenders offering price below the Reserve Price mentioned above will be rejected.
- 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.
- 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
- The buyer should satisfy himself/herself/itself as to the title, ownership, statutory approvals, extent etc. of the property, before participation in the auction.
- 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.
- 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.