दरू भ ष Phone
ईमेल email
: 0422-2491026
0422-2497832
Iob0130@iob.in
ग ांधीपरु म श ख : 11/953, क्रॉस कट रोड, ग ांधीपरु म, कोयम्बत्तरू , तममलन डु - 641012
Gandhipuram Branch : # 11/953, Cross Cut Road Gandhipuram, Coimbatore, Tamilnadu : 641012
E-AUCTION SALE NOTICE UNDER SARFAESI ACT, 2002
SALE OF IMMOVABLE/MOVABLE PROPERTY MORTGAGED TO THE BANK UNDER THE
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF
SECURITY INTEREST ACT, 2002
Whereas (1) M/s. Kovai Steel Corporation, (2) M/s. Marutham Steel Industries Pvt Ltd and (3) M/s.
Marutham Steel Rolling Mills Pvt. Ltd. have borrowed monies from Indian Overseas Bank against the
mortgage of the immovable/movable properties more fully described in the schedule hereunder and
the Bank has issued a demand notice under Section 13(2) of the SARFAESI Act, 2002 (Act) on 26-072014 calling upon them to repay the amount mentioned in the notice Rs.8,71,90,399/- (Rupees Eight
Crore Seventy One Lakhs Ninety Thousand Three Hundred and Ninety Nine only) for M/s. Kovai Steel
Corporation, Rs. 9,62,35,863/- [Rupees Nine Crore Sixty Two Lakhs Thirty Five Thousand Eight Hundred
and Sixty Three only] for M/s. Marutham Steel Industries Pvt Ltd, and Rs.33,24,56,301/- (Rupees Thirty
Three Crore Twenty Four Lakhs Fifty Six Thousand Three Hundred and One only) for M/s. Marutham
Steel Rolling Mills Pvt. Ltd. together with further interest, costs and expenses within 60 days from the
date of the said notice.
Whereas the borrowers having failed to pay the amount due to the Bank as called for in the said
demand notice, the Bank has taken
possession of the secured asset more fully described in the schedule hereunder on 26-02-2015, 27-022015 & 28-02-2015, including the right to transfer by way of sale for realizing the dues in exercise of
powers conferred on the Bank under Sec 13(4) of the above Act.
Whereas the borrower having failed to pay the dues in full, the secured creditor, Indian Overseas Bank
has decided to sell the under mentioned secured asset in "As is where is " and "As is what is" condition
under Section 13(4) of the Act read with Rules 8 &9 of the Security interest (Enforcement) Rules. 2002.
The dues of the borrower as on 15.04.2015 works out to Rs 58,26,22,199/- (Rupees Fifty eight crores
twenty six lacs twenty two thousand one hundred ninety nine only) plus further interest & Costs.
E-AUCTION SALE NOTICE UNDER SARFAESI ACT, 2002
SCHEDULE OF PROPERTY
DESCRIPTION OF THE SECURITY ALONG WITH BOUNDARIES, UPSET PRICE & EMD OF THE
PROPERTY)
Description of the Immovable Property : All that part and parcel of the property , factory land of extent
2.75 acres and buildings therein of extent 23992 sft at SF No. 471/1&2 parts, Old SF No 870/2,3,4,8,
Block No 34, Pudussery central village, Kanjikode, Palakkad Taluk, Kerala. Bounded On the North by
Bhagavathy Steel, On the South by DIC Road, On the East by land of DIC & Road, On the West by land
of DIC
UpsetPrice : Rs. 1,92,00,000/- (Rupees one crore ninety two lacs only)
EMD : Rs19,20,000/- (Rupees nineteen lacs twenty thousand only)
Description of the movable property : All the current assets and block assets including machinery,
furniture & fixtures, equipment etc of the company M/s Marutham Steel Industries Pvt Ltd.
UpsetPrice :Rs 1,46,00,000/-(Rupees one crore forty six lacs only)
EMD: Rs 14,60,000/- (Rupees fourteen lacs sixty thousand only)
Description of the Immovable Property : All that part and parcel of the property , vacant residential plot
nos 13,14,15,24,25,26 admeasuring 10433.50 sft at SF Nos 313/1a, 316/15, 316/14b, Palayam village,
Saran City, Kujilamparai, Vedasandur Taluk, Dindigul Dist standing in the name of Mr M Veerappan and
M Kathiresh. Bounded by On the North by 23' east west road, On the South by site nos 27,28,29, On the
East by south north road, On the West by Perumal's Land.
UpsetPrice :Rs.21,75,000/- (Rupees twenty one lacs seventy five thousand only)
EMD: Rs. 2,20,000/- (Rupees two lacs twenty thousand only)
Description of the Immovable Property : All that part and parcel of the property , Residential plot
admeasuring 19.4 cents at SF No 1699/2A, Palani Regn Dist, Palayam village, Kujilamparai,
Vedasanthur taluk, Dindigul dist owned by Mr M Veerappan. Boundaries of the property North of
lakshmi Chinnammal's land, South of east west road, East of land of palanisamy & P Vadivel, West of
South North Road. UpsetPrice:Rs.22,00,000/-(Rupees twenty two lacs only)
EMD: Rs 2,20,000/- (Rupees two lacs twenty thousand only)
Description of the Immovable Property : All that part and parcel of the property , of extent ac 15.75
cents of land and building there on at SF No. 236/1, 16-A, Lakshmipuram, Sathy Road, Ganapathy,
Coimbatore standing in the name of Sri M Kathiresh & Sri M Veerappan. Bounded On the North by 30 ft
Road, On the South by land or Pappammal, On the East by lands in GS No. 237, On the West by Sathi
Main Road.
UpsetPrice :Rs.3,23,50,000/- (Rupees three crores twenty three lacs fifty thousand only)
EMD: Rs.32,35,000/- (Rupees thirty two lacs thirty five thousand only)
Description of the Immovable Property : All that part and parcel of the property , land of extent 7.15
cents with 5345 sft of residential
building at SF No 237/1A, D.No 16-E, Lakshmipuram, Sathy Road, Ganapathy in the name of Mr M
Kathiresh and Mr M Veerappan. Bounded On the North by 30' layout road, On the South by site no 96,
On the East by 30' road, On the West by land in Sy no 236.
Upset Price :Rs.1,82,00,000/-(Rupees one crore eighty two lacs only)
EMD: Rs.18,20,000/-(Rupees eighteen lacs twenty thousand only)
Description of the Immovable Property : All that part and parcel of the property , of extent 2400 sft land
with building at SF No 449 as per subdivision SF No 449/1, Site No 24, Kurichi village, Zam Zam Nagar,
Coimbatore in the name of Mr N K Abdul Jaleel. Bounded, On the North by site no.25, On the South by
site no. 23, On the East by 30' layout road, On the West by site no. 20.
UpsetPrice :Rs.49,60,000/- (Rupees forty nine lacs sixty thousand only)
EMD: Rs.5,00,000/- (Rupees five lacs only)
Description of the Immovable Property : All that part and parcel of the property , of extent 2300 sft land
with building at SF No 608,607/1 Northern portion, Kuniamuthur, Coimbatore in the name of Mrs Syed
Rafia. Bounded On the North by Property of Kalik Usman, On the South by property of Nazeems, On
the East by property of Sajjid Hussain, On the West by Palakkad Road.
UpsetPrice :Rs.64,00,000/- (Rupees sixty four lacs only)
EMD: Rs.6,40,000/- (Rupees six lacs forty thousand only)
Description of the Immovable Property : All that part and parcel of the property, of extent 2300 sft land
with building at SF No 608,607/1 southern portion, Kuniamuthur, Coimbatore in the name of Mr K A
Kalik Usman. Bounded On the North by Property of Mohd Mustafa, On the South by property of
Ayesha Begum, On the East by property of Sajjid Hussain, On the West by Palakkad Road.
UpsetPrice :Rs.64,00,000/- (Rupees sixty four lacs only)
EMD: Rs.6,40,000/- (Rupees six lacs forty thousand only)
Description of the Immovable Property : All that part and parcel of the property , commercial land &
building at SF No. 173, D.No. 2,3,4,5 Nallia Mudaliar Street, D.No 412,413 Sathy Road, Ganapathy,
Coimbatore standing in the name of Mr P Parthiban. Bounded On the North by Nallia Mudaliar Veedhi,
On the South by EW Sathy road, On the East by house of Shanmuga Sundaram, On the West by house
of Shanmuga
Sundaram.
UpsetPrice :Rs 2,53,00,000/- (Rupees two crores fifty three lacs only)
EMD: Rs.25,30,000/- (Rupees twenty five lacs thirty thousand only)
Description of the Immovable Property : All that part and parcel of the property , land admeasuring
1110 cents and factory building thereon situated at SF No. 421, Patta No 798, Panapatti
village,Kinathukadavu Taluk, Pollachi standing in the name of M/s Marutham Steel Rolling Mills P Ltd ,
bounded On the North by land in SF No 422,423, On the South by east west tar road, On the East by
south north tar road, On the West by land in SF no 417.
UpsetPrice :Rs.8,23,50,000/- (Rupees eight crores twenty three lacs fifty thousandonly)
EMD: Rs 82,35,000/- (Rupees eighty two lacs thirty five thousand only)
Description of the movable property. All the current assets & block assets including machinery,
furniture,fixtures, equipment etc of the Company. Marutham Steel Rolling Mills Pvt Ltd
UpsetPrice :Rs9,23,00,000/- (Rupees nine crores twenty three lacs only)
EMD: Rs.92,30,000/- (Rupees ninety two lacs thirty thousand only)
Description of the Immovable Property : All that part and parcel of the property , 56 cents of
commercial land and building thereon at SF No 120 and 126, Town T S No. 8 & 44, Ward No 21, Block 3,
eight shops bearing Door Nos 60A/87-B9, B10, B11, B12,B13,B14,B 15, B16 in ground floor and with
rooms in Basement at Ganapathy, Coimbatore in the name of P Seralathan & S Boopathy. Bounded On
the North by sathy main road, On the South by TS Nos 45,46, On the East by TS No 9, On the West by
TS No 7. UpsetPrice :Rs.10,61,00,000/- (Rupees ten crores sixty one lacs only)
EMD: Rs.1,06,10,000/- (Rupees one crore six lacs ten thousand only)
Description of the Immovable Property : All that part and parcel of the property , 4411.60 sft of land
with 4463 sft building thereon at GS No. 183 part (now TS No 21), Ward No 21, D.No 449 to 452, Sathy
Road, Ganapathy, Coimbatore standing in the name of P Seralathan & S Boopathy. Bounded On the
North by sathy main road, On the South by TS Nos 20, On the East by TS No 23, On the West by TS No
70 & 22.
UPSET PRICE: 1,50,50,000/-(Rupees one crore fifty lacs fifty thousandonly)
EMD: Rs.16,00,000/- (Rupees sixteen lacs only)
Description of the Immovable Property : All that part and parcel of the property of extent Ac 2.90 at Sy
No 324/4, SRO Annur in
Masagounden Chettipalayam village,Karuvalore Road, Kovilpalayam (via), Coimbatore Dist. Bounded
On the North by East West Panchayat Road, On the South by Land of Thottathamma Chetty, On the
East by Land of Veerappan, On the West by land of Arukkampalayam Oorkara Chettiar.
UpsetPrice :Rs.2,37,50,000/- (Rupees two crores thirty seven lacs fifty thousand only)
EMD: Rs.23,75,000/- (Rupees twenty three lacs seventy five thousand only)
Date & Time of e- auction : 25-05-2015 (Monday) Between 11.00 A.M. and 12.00 Noon. with auto
extension of 5 minutes till sale is completed.
EMD Remittance : Deposit through EFT/ NEFT/ RTGS transfer in favour of " Authorised Officer, Indian
Overseas Bank " to the credit of Current account no.155102000000072 with Indian Overseas Bank,
SARM Branch, 11/952, Cross Cut Road, Gandhipuram, Coimbatore 641 012.Branch code : 1551; IFSC
code: IOBA0001551.
Bid Multiplier : Multiples of Rs.10,000/- ( Rupees Ten Thousand only)
Last Date for Submission of online application for BID with EMD : 22-05-2015 (Friday) before 5.00 PM.
Terms & Conditions :
1. The property(ies) will be sold by e-auction through the Bank's approved service provider M/s. eProcurement Technologies Ltd (ETL)under the supervision of the Authorized officer of the Bank.
2. e-auction tender document containing online e-auction bid form, declaration,general terms and
conditions of online auction sale are available in website http://iob.auctiontiger.net
3. Intending bidders shall hold a valid digital signature certificate and e-mail address and should register
their account by login to the website http://iob.auctiontiger.net They will be provided with user-id and
password by M/s. e-Procurement Technologies Ltd which should be used in the e-auction proceedings.
For details with regard to digital signature, please contact M/s e-Procurement Technologies Limited,
Ahmedabad Contact Person Mr.Thevar Praveen Kumar Mob:9722778828 (Contact No. 07940230844/821/822/823. Fax No.079-40016816/876). E-mail id: support@auctiontiger.net
4. Bids in the prescribed formats given in the Tender Document shall be submitted "online" through the
portal http://iob.auctiontiger.net Bids submitted otherwise shall not be eligible for consideration.
Scanned copies of their Photo / address proof and PAN card should be submitted to M/s e-Procurement
Technologies Ltd and the Authorised Officer before 5.00 P.M on 22-05-2015.
5. The EMD and other deposits shall be remitted through EFT / NEFT / RTGS to the Bank account as
specified above.
6. Bid form without EMD shall be rejected summarily.
7. The property shall be sold to the highest bidder. The successful bidder (purchaser) shall deposit 25%
of the sale price (less the EMD) immediately on the sale and the balance amount of sale price within 15
days from the date of auction sale. Failure to remit the entire amount of sale price within the stipulated
period will result in forfeiture of deposit of 25% of the tender price and forfeiture of all claims over the
property and it will be resold.
8. The sale certificate will be issued in the name of the purchaser only, after the payment of the entire
sale price amount and othercharges, if any.
9. The purchaser shall bear the charges / fee payable for conveyance such as registration fee, stamp
duty, etc., as applicableas per law.
10. The Authorized Officer has the absolute right to accept or reject the bid or postpone or cancel the
sale, as the case may be.
11. The property is being sold on 'as is where is basis' condition. The purchaser should make their own
enquiries regarding any statutory liabilities, arrears of property tax, electricity dues, etc., by themselves
before participating the auction.
12. Sale is subject to confirmation by the secured creditor.
13. EMD of unsuccessful bidders will be returned through EFT / NEFT / RTGS to the bank account details
provided by them in the bid form and intimated via their e mail id.
For further details regarding inspection of property, the intending bidders may contact the Assistant
General Manager, Indian Overseas Bank, Gandhipuram Branch, Coimbatore during office hours
through phone 0422-2496374. And regarding e-auction, the intending bidders may contact Phone
No.0422-2496347, 2497832 during office hours or the Bank's approved service provider M/s. eProcurement Technologies Ltd, Phone No. 079-40230844/821/822/823, e-mail-id :
support@auctiontiger.net or praveen.thevar@auctiontiger.net
Place : Coimbatore
Date : 16-04-2015
AUTHORISED OFFICER
INDIAN OVERSEAS BANK