Classification | CONFIDENTIAL

ASSET RECOVERY BRANCH

Divisional Office Building
No.6 Shri Vasavi Temple Road,
Near Sajjan Rao Circle, V V Puram
Bangalore, Karnataka, 560004

E-AUCTION NOTICE

PUBLIC NOTICE FOR SALE OF IMMOVABLE PROPERTIES UNDER

SARFAESI ACT, 2002

In exercise of powers conferred under the Securitization and Reconstruction of

Financial Assets and Enforcement of Security Interest Act, 2002 and Security In-
terest (Enforcement) Rules, 2002 and pursuant to the possession of secured assets
of the borrower taken by Authorized Officer for recovery of the secured debts dues
to “The Karur Vysya Bank Ltd”, Malleshwaram Branch, amounting to
Rs. 9,81,08,793.88 (Rupees Nine Crore Eighty One Lakhs Eight Thousand
Seven Hundered Ninety Three and Paise Eighty Eight only) as on 03.01.2024
with interest and expenses thereon from the borrower from (1) M/s. Blue Whale
Machinery Technologies Pvt Ltd Rep By: Mr. Deepak Dhirajlal Mehta (Director),
Mrs.Rina Mehta (Director) Having Registered Office at: No. 284, 2nd Floor, between
17th and 18th Cross, Sampige Road, Malleswaram, Bangalore – 560 003; (2) Mr.
Deepak Dhirajlal Mehta, S/o. Dhirajlal Mehta and (3) Mrs.Rina Mehta, W/o. Mr.
Deepak Dhirajlal Mehta both residing at B 103, “Pride Pavilion”, 2/1, Service Road,
1st Stage, 6th Phase, West of Chord Road, Rajajinagar, Bangalore – 560 010.
Whereas the undersigned has decided to put up for E-auction of the immovable
property offers are invited by way of E-Tender for purchase of the following assets
on “AS IS WHERE IS”, “AS IS WHAT IS”, AND “WHATEVER THERE IS” basis.
DESCRIPTION OF THE IMMOVABLE PROPERTIES
Schedule A

All that piece and parcel of the Commercial Unit situated at “S.J. Towers”, portion of the
Second Floor, Corporation No. 30/6-1, Mission Road, Corporation Division No. 73,
Bangalore, measuring 756 sq feet with UDS of 148 sq feet bounded on;

East By: Mr. Chunnilal’s Property

West By: Mr. Arshiwala’s Property
North By: Mr. Kanakasabhapathy’s Property and
South By: Mission Road

Reserve Price EMD (10% of Reserve Bid Amount Incremental

Price)
Rs. 40,00,000/- Rs. 4,00,000 /- Rs.50,000/-

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Schedule B

All that piece and parcel of the vacant site carved out of the converted land in Sy No. 65 as
detailed below:
Khatha No. 1295/121/1, “E” Property No. 150200201100320237, measuring East to West:
12.19 meters and North to South: 13.84 meters, in all measuring 168.73 sq meters ,Lake
Street Layout, Boyilahalli Village, Bagalur, BENGALURU- 562149, bounded on;
East By: Pathway
West By: 9 Meter Road
North By: 9 Meter Road and
South By: Site No. 2

Reserve Price EMD (10% of Reserve Bid Amount Incremental

Price)
Rs. 36,00,000/- Rs. 3,60,000 /- Rs.50,000/-

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All working Days – From 04.01.2024 to

Inspection of the Asset 24.01.2024 between 11.00 AM to 5.00
PM

Last date and time for submitting online Date: 24.01.2024

Tender & Application Forms Time: 12.00 noon.
Date and Time of E-Auction The E-Auction will take place through portal
https://bankauctions.in on 25.01.2024
between 12.00 noon to 1.00 noon with
unlimited extensions of 10 minutes each
till sale is concluded.

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Nodal Bank account Name The Karur Vysya Bank Ltd, Central office
in favour of A/c. Blue Whale Machinery
Technology
Account No: 1101351000000973
IFSC Code: KVBL0001101
Contact Person & Phone No Sri. S R Mahadevan
Phone: 99161 09699/9916764888
Email: mahadevansr@kvbmail.com

The E-tenders should be accompanied with EMD remittance details. EMD should
be remitted through RTGS / NEFT to Nodal Bank Account without time lag, failing
which the tender becomes disqualified or The EMD of 10% of the Reserve Price can
also be paid by of a Demand Draft/Pay Order drawn in favour of The Karur Vysya
Bank Ltd, Payable at our Bangalore Asset Recovery Branch along with Bid Form.

TERMS AND CONDITIONS OF THE E-AUCTION ARE AS UNDER

1. E – Auction is being held on ““AS IS WHERE IS”, “AS IS WHAT IS”, AND
“WHATEVER THERE IS” BASIS”.
2. The E-auction will take place through portal https://bankauctions.in on
25.01.2024 from 12.00 PM to 1.00 PM with unlimited extensions of 10 minutes
each, till the sale is completed.
3. For detailed procedure and terms and conditions of E-Auction, interested
bidders may visit https://bankauctions.in and download relevant documents.
Interested bidders may also get in touch with service provider on below mentioned
contact numbers.
4. It shall be in the discretion of the Authorized Officer to cancel the auction
proceeding for any reason and return the EMD submitted and Bank would not
entertain any claim or representation in that regard from the bidders.
5. Particulars specified in respect of the said property/ies in the above
schedule have been stated to the best of the information of the Authorized Officer /
Bank.
6. The intending purchaser / bidder is required to submit amount of EMD and
register their name at https://bankauctions.in to the above mentioned account
and get user ID and Password free of cost and get training on E-Auction from
Mr. Prakash – Mobile: 8142000064 or Mr. Bhaskar – Mobile: 9515160061
Cheques will not be accepted for EMD. Bidders are required for participating in the

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E-auction to hold Digital Signature Certificate and also to furnish the details in
the Auction Application Form available on the site.
7. The said EMD shall be adjusted in the case of highest bid, otherwise it will
be refunded. The earnest money deposit will not carry any interest. Brokers /
Middlemen shall not be entertained.
8. The sale shall be confirmed in favour of the purchaser who has offered the
highest sale price in his bid to the Authorized Officer and shall be subject to
confirmation by the Bank.
9. The purchaser shall deposit 25% of the amount of sale price after adjusting
the Earnest Money Deposit within 24 hours (Banking Days) of acceptance of
highest bid by the Authorized Officer in respect of sale, failing which the Earnest
Money Deposit shall be forfeited. The highest bidder shall be declared to be the
purchaser of the properties mentioned herein provided he should be legally
qualified to bid at all stage.
10. The balance 75% of the sale price shall be paid by the purchaser on or
before 15th day (during banking hours) of confirmation of sale by the Authorized
Officer or such extended period as agreed upon in writing by and solely at the
discretion of the Authorized Officer.
11. In default of payment of sale price or any part thereof within the period(s)
mentioned hereinabove, the deposit(s)/ Part payment shall be forfeited and the
property shall be resold and the defaulting purchase shall forfeit all claims to the
property or any of the sum for which it may be subsequently sold.
12. On confirmation of the sale by the Bank and or compliance of the terms of
payment the Authorized Officer shall issue a certificate of sale of the said property
in favour of the purchaser in the form given in Appendix V to Enforcement of
Security Interest Rules.
13. The Authorized Officer is not bound to accept the highest bid or any or all
bids and reserves the right to accept or reject any or all the bids without assigning
any reason thereof and his decision will be final binding on all the parties attending
the auction.
14. Participation by any person in the sale shall be treated as conclusive
evidence of the fact that the party has inspected the property/ies offered for sale
and satisfied himself about the title, measurement, extent, boundaries and location
of the property/ies. It shall also imply and be taken for granted that the party has
carefully gone through and understood the terms and conditions of auction

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including the amendments if any, prevailing at the time of auction bid. No objection
shall be entertained by the Bank and or the Authority after the bid is accepted.
15. The successful purchaser would bear all the charges / fees payable for
conveyance such as stamp duty, registration fee, applicable GST (Goods and
Service Tax) and all other taxes etc, as applicable as per law of Government of India
and state of Karnataka and other Authorities.
16. Delivery / possession should be taken by the purchaser or his authorized
representative against proper authorization letter only and it should be completed
within the time schedule at their own risk, cost and arrangement and they will not
be entitled to claim any facility or assistance or cost on this account from the Bank.
17. Any other conditions / changes / amendments to the auction terms and
conditions, if made, and which are not incorporated in these terms and conditions
will be announced at the time of auction which will be binding on the bidders.
18. The Bank reserves its right to accept / reject any bid, withdraw any property
at any stage from auction sale after acceptance of the deposit amount for full value
by the buyer, without assigning any reason thereof and value of such properties if
paid for, shall be refunded.
19. The Bank shall not be responsible for any damage or loss, whatsoever, to
purchaser on account of such withdrawal.
20. The property/ies will be put for auction as per the convenience of Bank and
it is not obligatory to go serially if the properties are more in number.

21. The properties shall remain in every respect at the risk of the purchaser
from the date of acceptance of their offer and the Bank shall have no liability for
the safe custody or preservation thereof till the date of delivery / taking possession
by the purchaser.
22. To the best of the knowledge and information of the Authorized Officer no
other encumbrance exists on the properties.
23. All persons participating in the E-Auction should upload and submit his /
their sufficient and acceptable proof of his / their identity, residence, and authority
and also PAN / TAN cards etc.
24. Participation by anyone in this sale shall be treated as conclusive evidence
of the fact that the party has inspected the assets offered for sale and satisfied
himself/herself in all respects and the principle “Caveat Emptor” (let the buyer
beware) will apply.

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25. As per the Section 194 -1A of the Income Tax Act 1961, TDS @1% will be
applicable on the sale proceeds where the sale transaction is Rs.50,00,000/-
(Rupees Fifty Lakhs) and above. The successful bidder /purchaser shall deduct 1%
TDS from the Sale Price and deposit the same with the income tax department in
Form No.16B, containing the Bank’s Name and the PAN No. AAACT3373J as a
seller and submit the original receipt of the TDS Certificate to the Bank.
26. The sale is subject to the conditions prescribed in the SARFAESI Act, Rules
2002, amended from time to time and the conditions mentioned above.

Special Instructions:
Bidding in the last minutes and seconds should be avoided in the bidders own
interest Neither The Karur Vysya Bank Ltd nor Service Provider will not be held
responsible for any lapses / failure (Internet Failure, Power Failure etc.,) on the
part of the vendor, in such cases, in order to ward-off such contingent situation
bidders are requested to make all the necessary arrangements / alternatives such
as back-up power supply whatever required so that they are able to circumvent
such situation and still be able to participate in the auction successfully.

Statutory 15 days’ Notice under Rule 9(1) of the SARFAESI Act, 2002**

The borrower/s and guarantor/s are hereby notified to pay the dues as mentioned
above along with up to date interest and ancillary expenses before the date of
e-Auction, failing which the Schedule property will be auctioned/sold and balance
dues, if any, will be recovered with interest and cost.

Date: 04.01.2024. Authorized Officer

Place: Bangalore The Karur Vysya Bank Ltd.,

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