Chennai Main Branch

Union Bank Bhavan 139 Broadway Chennai – 600 108

Tel No : +91 44 2346 0722 / 2346 0725
E :chennaimain@unionbankofindia.com

By Regd Post & Courier

To:

1. Mr E Parameswaran
S/o Mr G.Ethirajulu
Apt No 49 5th Street, I street
K.K.Nagar
Chennai 600 078

2. Mr E Parameswaran
Plot No 37 Ground Floor
Sri Mookambika Nagar
Parameswaramangalam Village
Cheyyur Taluk
Kancheepuram District

3. Mr E Parameswaran
HDFC Rajesh Towers,
No 15 Nagappan Street,
Jaffarkhanpet,
Chennai 600083

Dear Sir/Madam,

Sub: Notice of 15 days for sale of immovable secured assets under Rule 8of
the Security Interest (Enforcement) Rules, 2002.
1. Union Bank of India, Chennai Main Branch, Union Bank Bhavan139
Broadway Chennai – 600 108, the secured creditor, caused a demand notice
dated 22.09.2011 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 Authorised Officer, 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 02.03.2012 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 yourright 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 20th July 2022 between 11.00
am to 05:00 pm by inviting Bids from 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
Place : Chennai
Date : 28.06.2022

AUTHORISED OFFICER
FOR UNION BANK OF INDIA

Encl: Terms of sale

TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS:

1. Name and address of the

Borrower, Co-Applicant and 1. Mr E Parameswaran
Guarantor S/o Mr G.Ethirajulu
Apt No 49 5th Street, I street
K.K.Nagar
Chennai 600 078

2. Mr E Parameswaran
Plot No 37 Ground Floor
Sri Mookambika Nagar
Parameswaramangalam Village
Cheyyur Taluk
Kancheepuram District

3. Mr E Parameswaran
HDFC Rajesh Towers,
No 15 Nagappan Street,
Jaffarkhanpet,
Chennai 600083

2. Name and address of the Union Bank of India, Chennai Main Branch,
Secured Creditor : Union Bank Bhavan139 Broadway Chennai –
600 108
3. Description of immovable secured assets to be Sold

All that piece and parcel of house site bearing plot no 37 situated in Sri
Mookambika Nagar, comprised in Survey No 199/10 Parameswaramangalam
village, Cheyyur Taluk, Kancheepuram District,
Extent of Property: 1170 sqft of 2340 sq ft of land and bounded in the
NORTH: Land in Survey No 199/9 Part
SOUTH: 20 feet Road
EAST: Plot no 38 and
WEST: Plot no 36
Situated within Sub Registration District of Tiruporur and Registration District
of Chennai South
4.The details of encumbrances, NIL.
if any known to the Secured (However, prospective bidders are requested to
Creditor take EC and make their own enquiry and
satisfy themselves before submitting bid).
5. Last date for submission of On or before the commencement of eAuction.
EMD
6. Date & Time of auction 20.07.2022. between 11:00 am to 05:00 pm
 (with 10 min unlimited auto extensions) E-
auction website-www.mstcecommerce.com
7.The secured debt for the Rs. 36,32,078.00 as on 28.02.2022 with
recovery of which the further interest, cost &expenses.
immovable secured asset is to
be sold:
8.1Reserve pricefor the Rs. 8,51,000.00/- (Rupees Eight Lakhs Fifty
properties below which the one Thousand Only)
immovable property may not
be sold:
8.2 EMD Payable Rs. 85,100.00 (Rupees Eighty five Thousand
one hundred Only)

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 ibapiop@mstcecommerce.com

 For EMD payment/refund related queries e-mail to

ibapifin@mstcecommerce.com.

 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 at free 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 sarfaesi@unionbankofindia.com or

contact Chennai Main Branch, Union Bank Bhavan139 Broadway
Chennai – 600 108, Telephone +91 44 2346 0722 / 2346 0725/2346
0723/2346 0847 E :chennaimain@unionbankofindia.com
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, and

www.unionbankofindia.co.intenders 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-mailafter 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. 20,000.00 in
excess of highest bid amount or the immediate preceding bid, as the case may
be with multiple increment value of Rs. 20,000.00
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 332601980050000 of the Authorised Officer, Union Bank of India
Chennai Main Branch, IFSC Code UBIN0533262 and 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 taken on 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 pending, if any- NIL SA
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 : Chennai
Date :28.06.2022 AUTHORISED OFFICER

FOR UNION BANK OF INDIA