BID DOCUMENT. M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad.

Transcription

1 IDBI BANK LTD. IDBI Tower, WTC Complex, Cuffe Parade Recovery Department, Head Office, 11 th Floor, Mumbai Tele / Mr. Raghu Bir Singh Authorized Officer (AO) BID DOCUMENT For Sale of Assets of M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad. Under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Security Interest (Enforcement) Rules, 2002 Date of Inspection of property- 14 & 15 th February, 2013 Last date of submission of Bids ( Up to 2.30 pm.) Date of opening of Bids ( At 3.30 p.m. )

2 CONTENTS. Sr. Particulars Page Nos. No. I. Public Notice for Sale published in the newspapers. 3-5 II. Possession Notice published in the newspapers. 6-7 III. Introduction. 8-9 IV. Secured Assets- Details of Immovable assets. 10 V. Outstanding dues of the Secured Lenders. 11 VI. Terms & Conditions VII. Brief Details of Bid/Offer Document. 17 VIII. Form of Bid/ Offer IX. Form of Appendix to the Bid/Offer X. Profile of the Bidder. 25 2

3 I. Copy of the Tender Notice for Sale : ( In English ): IDBI Bank Ltd. IDBI Tower, WTC Complex, Cuffe Parade, Mumbai ,( Tel / ) PUBLIC NOTICE FOR SALE SALE OF IMMOVEABLE PROPERTIES OF M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad. The undersigned being the Authorized Officer (AO) of IDBI Bank Ltd under SARFAESI Act, invites bids / offers in sealed covers for the sale of the following properties in respect of M/s Pooja Iron & Steel Pvt. Ltd. having Registered Office FF-11 / 12, Chinmay Crystal, Opposite Vastrapur Lake, Vastrapur, Ahmedabad and the mortgaged properties at Ahmedabad detailed hereunder under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002, possession whereof have been taken by the undersigned on November 22, Brief description of the Unit. : M/s Pooja Iron & Steel Ltd. availed various credit facilities from IDBI Bank which is having the exclusive charge over the under mentioned mortgaged properties collaterally offered by the promoters for the credit facilities availed by M/s Pooja Iron & Steel Pvt. Ltd. Names of the Directors / Promoters: (1). Mr.Jitendra Madanlal Agarwal (2). Mrs.Indu Jitendra Agarwal. Both resident of B / 801, Chinmay Crystal, Opp. Vastrapur Lake, Vastrapur, Ahmedabad (Gujarat). 2. The details of IDBI s outstanding as on December 31,2012. ( Rs. in lakh) Nature of facility Sanctioned. Principal Interest & Total others Cash Credit Letter of Credit Total ( Rs. in lakh) No. Property Description. 1 Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 165 sq. yards ( about 1485 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 2 Residential flat being Flat No. 10 /02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 175 sq. yards ( about 1575 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 3 Residential property being bungalow constructed on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal. 4 Residential property being bungalow constructed on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal 5 Commercial properties being Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in the scheme known as Chinmay Crystal ( of Amarshradha Co-op. Hsg. Society Ltd. Vibhag-2 ), Opp. Vastrapur Lake bearing Final Plot ( FP) No. 489, S.No. 397, TPS No. 1/B, Mouje- Bodakdev, Taluka, City, Sub-district- Ahmedabad owned by Smt. Induben Jitendra Agarwal. * Reserve Price Earnest Money Deposit Total Date of Inspection of property: 14 th & 15 th February 2013 (From am. To 6.00 P.M.) Last date & time of submission of Bids/offers: 4 th March (Up to 2.30 pm.) Date & place and time of opening of the bids.: 4 th March at 3.30 pm at Recovery Department, IDBI Tower, WTC Complex,Cuffe Parade, Mumbai. Bidders may remain present at the time of opening of the bids. 3

4 5. The bids can be given for one property or all the five properties in one bid form indicating the offer price for each property. The above properties will be sold in five different lots or in one or more lots. 6. The Bank is selling the above immovable properties on AS IS WHERE IS AND WHATEVER THERE IS BASIS 7. Bid forms should be accompanied with Demand Draft for Earnest Money deposit in the name of IDBI Bank- account M/s Pooja Iron & Steel Pvt.Ltd. Payable at Mumbai. Separate DD should be given for each property. The EMD will not carry any interest. The Authorized Officer may permit inter se bidding amongst the bidders present. Bid forms without DD for EMD will not be considered. 8. Successful bidders will be required to deposit 25 % of the sale price (less amount of Bid Money) by 4.00 pm on March 6 th 2013 by crossed Account Payee Demand Draft in the name of IDBI Bank- account M/s Pooja Iron & Steel Pvt.Ltd. Payable at Mumbai. The balance amount of the sale price shall have to be paid within 15 days from the acceptance of bids / offers or such extended period as may be agreed upon in writing between the successful bidder and the Authorized officer. 9. The AO reserves the right to accept /reject any or all the bids without assigning any reason.in case all the bids are rejected, the AO reserves the right to sell the assets by any one of the modes as prescribed in the SARFAESI Act, The Bid Document can be obtained from the undersigned during the period to on any working day (except on Sunday and Saturday ) between a.m. and 5.00 p.m. on payment of a non-refundable fee of Rs 300/- (Rupees Three hundred only) by a crossed A/C Payee Demand Draft/Pay Order drawn in favor of "IDBI Bank Ltd. A/c M/s Pooja Iron & Steel Pvt.. Ltd.. " payable at Mumbai. issued by any Nationalized Bank/Scheduled Bank. The Bid Document can also be downloaded from IDBI website ( onward. Those bidders preferring to download the Bid Document shall have to furnish the non-refundable fee of Rs.300/- (Rs. Three hundred only) as at (10 ) above at the time of submission of the bid/offer. For inspection of the properties, please contact the Authorized Officer. Date: Place: Mumbai Authorized Officer The above Notice published in Times of India Ahmedabad edition on January 30 th * Important Note : The immovable property at Sr. No. 3 (5) above in the Sale Notice i.e. Commercial Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in Chinmay Crystal, Opp. Vastrapur Lake Ahmedabad is dropped from the present sale and therefore the said property will not be available for inspection & Sale in this Bid Document. Bidders are requested not to submit bids for the same. 4

5 The above Sale notice in Gujarati published in daily Sandesh Ahmedabad, Vadodara, Surat, Rajkot, Bhavnagar edition on January 30 th

6 II- The following possession notice in English was published in daily Free Press Journal on November 28,

7 The above possession notice in Gujarati was published in daily Sandesh on November 28 th

8 III- Introduction: M/s Pooja Iron & Steel Pvt. Limited,having Registered Office at FF-11/12, Chinmay Crystal, Opposite- Vastrapur Lake, Vastrapur, Ahmedabad Gujarat State (the Borrower) availed various credit facilities from IDBI Bank Ltd. aggregating to Rs.10 crore from IDBI Bank Limited in March, The promoters of the company are : 1. Mr. Jitendra Madanlal Agarwal. 2. Mrs. Indu Jitendra Agarwal. Both resident of B / 801, Chinmay Crystal, Opp.Vastrapur Lake, Vastrapur, Ahmedabad. IDBI Bank is the sole lender of the said credit facilities. The credit facilities are collaterally secured by mortgaged of following properties. No. Property Description. 1 Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 165 sq. yards ( about 1485 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 2 Residential flat being Flat No. 10 /02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 175 sq. yards ( about 1575 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 3 Residential property being bungalow constructed on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal. 4 Residential property being bungalow constructed on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal 5 Commercial properties being Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in the scheme known as Chinmay Crystal ( of Amarshradha Co-op. Hsg. Society Ltd. Vibhag-2 ), Opp. Vastrapur Lake bearing Final Plot ( FP) No. 489, S.No. 397, TPS No. 1/B, Mouje- Bodakdev, Taluka, City, Sub-district- Ahmedabad owned by Smt. Induben Jitendra Agarwal. 8

9 The borrower/ promoters /guarantors/mortgagors of the said unit could not service its debt availed with IDBI Bank Limited and resultantly the loan account of the company with IDBI Bank Limited was classified as Non- Performing Asset( NPA ) on per the prudential norms of the Reserve bank of India ( RBI). IDBI Bank Limited Bank as the Secured Lender of M/s Pooja Iron & Steel Pvt.Ltd. issued Demand Notice dated November 25 th 2011 to the borrower, guarantors and the mortgagors calling upon them to repay Rs. 13,65,71,484/- ( Rs. Thirteen crore sixty five lakh seventy one thousand four hundred eight four only) outstanding as on October 31, 2012 plus further interest at contractual rate from and expenses within sixty days from the date of the said demand notice. The Borrower/promoters, guarantors and mortgagors failed to repay the notice amount as per the Demand Notice dated Shri Raghu Bir Singh the Authorized Officer (AO) of the IDBI Bank Ltd took physical possession of the mortgaged securities mentioned above on November 22 nd 2012 under the provisions of section 13(4) of the Securitization Act, 2002 and the rules made thereunder. After taking possession of the assets, the possession notices were published in two local newspapers daily The Free Press Journal : and the daily Sandesh in English & Gujarati respectively on November 28 th 2012as per the provisions of SARFAESI Act, 2002 and the rules made thereunder. Shri Raghu Bir Singh, Deputy General Manager, presently working at Recovery Department at the Head Office of IDBI Bank Limited at Mumbai is appointed as the Authorized Officer ( AO ) under the Securitization Act for taking steps for the sale of above assets under the provisions of SARFAESI Act, IDBI Bank has issued the Public notice in daily Times of India and daily Sandesh in English & Gujarati respectively on January 30,2013 for sale of above immovable assets in possession of IDBI Bank Limited requiring the interested buyers / bidders to submit their bids/ offers in the prescribed format given in the Bid Document along with the Earnest Money Deposit to the Authorized Officer ( AO) of IDBI Bank in this regard at Recovery Department at Head office of IDBI Bank Limited at Mumbai so as to reach us on or before March 4, 2013 up to 2.30 PM. The Bids will be opened on March 4 th 2013 at 3.30 PM at Recovery Department, IDBI Tower, WTC Complex,Cuffe Parade Mumbai Important Note : The immovable property at Sr. No. 3 (5) above in the Sale Notice i.e. Commercial Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in Chinmay Crystal, Opp. Vastrapur Lake Ahmedabad is dropped from the present sale and therefore the said property will not be available for inspection & Sale in this Bid Document. Bidders are requested not to submit bids for the same. *********************** 9

10 IV ] IMMOVABLE ASSETS / PROPERTIES : No. Property Description. 1 Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 165 sq. yards ( about 1485 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 2 Residential flat being Flat No. 10 /02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing FP No. 489/ Part Survey No. 397, TPS No. 1 / B, Mouje Bodakdev, Taluka City, Sub District- Ahmedabad 3, admeasuring about 175 sq. yards ( about 1575 sq. ft ) owned by Shri Jitendra Madanlal Agarwal. 3 Residential property being bungalow constructed on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal. 4 Residential property being bungalow constructed on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad. Plot area of about 875 sq. yards (about 7875 sq. ft.) and built up area of about 50 sq. yards (about 450 sq.ft.) owned by Shri Jitendra Madanlal Agarwal Important Note : The immovable property at Sr. No. 3 (5) above in the Sale Notice i.e. Commercial Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in Chinmay Crystal, Opp. Vastrapur Lake Ahmedabad is dropped from the present sale and therefore the said property will not be available for inspection & Sale in this Bid Document. Bidders are requested not to submit bids for the same. 10

11 V. OUTSTANDING DUES OF THE SECURED LENDERS: Outstanding as on of M/s Pooja Iron & Steel Pvt. Ltd. Nature of facility Sanctioned. Principa l Interest & others Total Cash Credit Letter of Credit Total Plus further interest at the contractual rate from January 1, 2013 plus expenses. 11

12 VI. TERMS AND CONDITIONS. : 1 The Authorized Officer (AO) of IDBI Bank exercising the powers under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as "the SARFAESI Act") is selling the assets / properties mentioned at item No. IV of the Bid Document (hereinafter referred to as the 'Secured Assets') and the same are being sold on AS IS WHERE IS AND WHATEVER THERE IS Basis. It is free from charges and encumbrances of the secured lender mentioned at item No.VI of the Bid Document. IDBI Bank is having the exclusive first charge on all the above assets. 2 Issue of Bid Document: The Bid Document along with Bid/Offer Form is on sale from February 2 nd 2013 to March 2 nd 2013 on any working day (except on Saturday and Sunday) between a.m. and 5.00 p.m. and can be obtained from Recovery Department of the IDBI Bank Limited, Head Office, Mumbai by making payment of non-refundable fee of Rs.300/- (Rupees Three hundred only) towards cost of the Bid Document by way of crossed A/c Payee Demand Draft/Pay Order drawn in favor of "IDBI Bank Ltd. A/c Pooja Iron & Steel Pvt.Ltd. " payable at Mumbai issued by any Nationalized Bank/Scheduled Bank. The Bid Document can also be downloaded from IDBI website ( from up to The bidders preferring to download the Bid Document shall have to submit the non-refundable fee of Rs.300/- ( Rs. Three hundred only ) at the time of submission of the Bid Document by way of crossed A/c Payee Demand Draft/Pay Order drawn in favor of "IDBI Bank Ltd. A/c Pooja Iron & Steel Pvt. Ltd." payable at Mumbai issued by any Nationalized Bank/Scheduled Bank. 3 Reserve Price: No. Property Description. Reserve Price ( Rs. in lakh) Earnest Money Deposit 1 Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Residential flat being Flat No. 10 /02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad bearing Residential property being bungalow constructed on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad Residential property being bungalow constructed on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad The Bids can be given for one property or for more properties given at Sr. No. (3) [ 1 to 5 ] above. However, the AO reserves the right to sell the above properties either in one lot or more lots. Applicants opting to submit the Bid for more than one property should submit separate DD /Pay order for the each property / lot. 12

13 4 The sale of Secured Assets is on "As is where is and whatever there is basis. The description of the immovable properties is based on the mortgages created by the Borrower with the secured lenders from time to time and the representations made by them. The AO does not take or assume any responsibility for any shortfall in the immovable assets or for procuring any permission, etc. or for the dues of any authority established by law. It is expressly made clear that the AO does not take or assume any responsibility for any dues, statutory or otherwise, of the owners of these properties including such dues that may affect transfer of the assets in the name of the purchaser and such dues, if any, will have to be borne/paid by the purchaser. If the immovable properties are sold in different lots, the responsibility of payment of all the dues, if any, will be that of the buyer of respective immovable properties. 5 Inspection of assets The interested parties may inspect the assets at their own cost between a.m. and 6.00 p.m. on the assigned date i.e. on February 14 and February 15, 2013 in the presence of a representative of Enforcement Agent / Custodian of IDBI Bank viz. INVENT ARC Pvt. Ltd. Mumbai. For inspection of assets, any further clarifications, the Authorized Officer / concerned dealing officer may be contacted on or The contact Nos. of Invent ARC Pvt. Ltd. are , , FAX Due Diligence by the Bidders : The interested parties may carry out their own comprehensive due diligence in respect of the above immovable assets / Secured Assets including any dues relating to the Secured Assets. A bidder shall be deemed to have full knowledge of the condition of the assets, relevant documents, information, etc. whether the bidder actually inspects or visits or verifies it or not. 7 The bidders shall be deemed to have inspected and approved the Secured Assets to their entire satisfaction and for the purpose, the Bidders may, in their own interest and at their own cost, verify the area of land and buildings and any other relevant information before submitting the Bids. It shall be presumed that the bidder has satisfied himself/herself about the names, descriptions, particulars, specifications, measurements, boundaries and abuttal of the assets/properties and that the bidder concurs or otherwise admits the identity of the assets/properties purchased by him/her notwithstanding any discrepancy or variation, by comparison of the description in the particulars of the assets/properties and their condition. 8 The Bidder shall not be entitled to receive re-imbursement of any expenses which may have been incurred in preparation of the Bid/Offer for submission and/or for carrying out due diligence, search of titles to the assets and matters incidental thereto or for any other purpose in connection with purchase of the assets under reference. 9 Submission of Bid/Offer : The Bid shall be complete in all respects. The Bid/Offer forms are annexed to the Bid Document. The Bidder should quote the offer amount for one or more properties stated above as per his/her desire and furnish the information called for therein and shall sign and date each of the documents in the space provided therein for the purpose. The Bidder shall initial each page of the Bid/Offer. The above five properties will be sold in one or more lots. 10 The Bid/Offer shall be signed by a person or persons duly authorized by the Bidder with signature duly attested. 11 The Bid/Offer shall contain the full address, Telephone No., Fax No., -id, if any, of the Bidder for serving notices required to be given to the Bidder in connection with the Bid/Offer. 13

14 12 The Bid/Offer form and the documents attached to it shall not be detached one from the other and no alteration or mutilation (other than filling in all the blank spaces) shall be made in any of the documents attached thereto. 13 Last date for submission of Bid/Offer Document : The interested parties may submit their unconditional and unqualified bids to Mr. Raghu Bir Singh, Authorized Officer, IDBI Bank Ltd.- Recovery Department, Head Office, IDBI Tower, 11 th Floor, WTC Complex, Cuffe Parade, Mumbai in two separate sealed covers so as to reach the AO not later than 2.30 on March 4 th 2013, one sealed cover containing a crossed A/c Payee Demand Draft/Pay Order for the amount equivalent to Earnest Monet Deposit (EMD) for the asset/s intended/offered to be purchased, [ as specified in the Public Notice for Sale dated January 29,,2013 drawn in favor of "IDBI Bank Ltd.-A/c- M/s Pooja Iron & Steel Pvt. Ltd.. " payable at Mumbai issued by any Nationalized Bank/Scheduled Bank as Earnest Money Deposit (EMD), which shall be super scribed EMD for M/s Pooja Iron & Steel Pvt.Ltd. and the other sealed cover containing the Bid Document super scribed Bid for Pooja Iron & Steel Pvt. Ltd." 14 Opening of Bids :The AO will open the envelopes /bids at Recovery Department, Head Office, IDBI Tower, 11 th Floor, WTC Complex, Cuffe Parade, Mumbai on March 4 th 2013 at 3.30 PM in the presence of the Bidders present & the Borrowers, if they choose to remain present. Covers containing EMD shall be opened first and only those bidders will be permitted to remain present whose Demand Draft/Pay Order for EMD are found to be in order. 15 The second covers of only those bidders will be opened whose covers containing EMD have been found to be in order. The unqualified bidders shall have the opportunity to participate in inter-se bidding to increase their bids on such terms and conditions as may be decided by the Authorized Officer. 16 Bids/Offers with amount less than the respective Reserve Price as specified in the Tender Sale Notice shall be out rightly rejected. Form of Bid /Offer if found incomplete in any respect shall also be liable for outright rejection. 17 The AO reserves the right to adjust arithmetical or other errors in any Bid/Offer in the manner in which the AO considers suitable or deems fit. Any adjustments so made by the AO shall be stated to the Bidder if the AO makes an offer to accept his Bid/Offer. 18 Payment of Sale Price :The successful bidder would be informed in writing about the acceptance of his/her bid/offer by the AO and he/she will be required to deposit 25% of the sale price (less the amount of EMD already deposited ) by on or before March 6 th 2013 by 4.00 pm by crossed A/c Payee Demand Draft/Pay Order drawn in favor of "IDBI Bank Ltd.- A/c M/s Pooja Iron & Steel Pvt. Ltd. " payable at Mumbai issued by any Nationalized Bank/Scheduled Bank. The balance amount of the sale price shall have to be paid within 15 days of acceptance of the bid/offer or within such extended period as may be agreed upon in writing between the successful bidder and the AO. 19 In case the successful bidder fails to deposit 25% of the sale price, the AO shall forfeit the Earnest Monet Deposit amount (EMD) and if the successful bidder backs out after paying 25% of the sale price, then AO shall forfeit the 25% of the sale consideration so deposited including the EMD amount. 20 The defaulting successful bidder shall forfeit all claims to the assets or to any part of the sum for which it may be subsequently sold. 14

15 21 On confirmation of sale and if the terms of payment have been complied with, the AO exercising the power of sale shall issue the Certificate of Sale for the movable and immovable property in favor of the purchaser as per the format provided in the Security Interest (Enforcement) Rules, The successful Bidder shall, after making full payment of sale price within 15 days of acceptance of bid/offer or such extended period as may be granted by the AO at his/her sole and absolute discretion, arrange to take possession of the Secured Assets within a maximum of 30 days. It is explicitly stated that once the Sale Certificate is issued by the AO, the AO will not be held responsible for security and safe- keeping of the Secured Assets. In case the successful bidder fails to take possession of the secured assets as stated above, the AO reserves the right to revoke the sale confirmed in his/her favour, forfeit the entire amount paid by the successful bidder and go for re-bidding or sell the secured assets by any of the modes as prescribed in the SARFAESI Act including sale by negotiation with any of the bidders and/or other parties by private treaty. In such an event, the original successful bidder shall have no claims on the secured assets or to any amount /s for which it may be subsequently sold. 23 The purchaser will be required to bear all the necessary expenses like stamp duty, registration expenses, etc. for transfer of assets in his/her name. It is expressly stipulated that there are no implied obligations on the part of the AO or the secured lenders and it shall be solely the obligation of the Bidder, at his/her cost, to do all acts, things and deeds whatsoever for the completion of the sale including payment of dues, if any, to get the assets transferred in the name of the purchaser. 24 The submission of the Bid/Offer means and implies that the Bidder has unconditionally and irrevocably agreed to and accepted all the above terms and conditions of the Bid/Offer laid down herein. 25 The time hereinabove fixed for the observance and performance by the bidder of any of the obligations to be observed by him/her under these conditions is and shall be deemed to be of the essence. 26 General Terms and Conditions The AO shall be at liberty to amend/modify/delete/drop any of the above conditions as may be deemed necessary in the light of the facts and circumstances. 27 The entire procedure of opening of Bids/Offers, the sequence of opening and bidding, etc. shall be at the sole and absolute discretion of the AO and the intending bidders shall have no right whatsoever to object to the same. 28 The AO reserves the right and liberty to accept/reject any or all the Bids/Offers and also reserves the right to cancel the entire sale process without assigning any reasons. In case all the bids are rejected or the successful bidder fails to make payments as required in the Bid Document or withdraws his/her bid, the AO, at his sole and absolute discretion, reserves the right to go for re-bidding or sell the assets by any of the modes as prescribed in the SARFAESI Act including sale by negotiation with any of the bidders and/or other parties by private treaty and the Bidders shall have no right to object to the same. 29 In the event the said sale in favor of the bidder not being confirmed by AO, otherwise than on account of the willful default of the bidder or if the sale is set aside by an order of the Court/Tribunal, then in that event the sale shall be void and the bidder shall, in that event be entitled only to receive back his/her Earnest Money Deposit (EMD) or purchase money as the case may be, but without interest, and the bidder shall not be entitled to be paid his costs, 15

16 charges and expenses of and incidental to the said sale and investigation of title or any other costs incurred by him/her. 30 Notwithstanding anything stated elsewhere in this Bid Document, the AO reserves the right to call off the sale process at any point of time without assigning any reasons. 31 Jurisdiction All disputes arising amongst the parties shall be adjudicated according to Indian Law and the Courts in Mumbai alone shall have jurisdiction to entertain /adjudicate such disputes. * Important Note : The immovable property at Sr. No. 3 (5) above i.e. Commercial Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in Chinmay Crystal, Opp. Vastrapur Lake Ahmedabad is dropped from the present sale and therefore the said property will not be available for inspection & Sale in this Bid Document. 16

17 VII. BRIEF DETAILS OF BID/OFFER DOCUMENT IDBI BANK LTD. BID/OFFER FORM FOR PURCHASE OF SECURED Immovable ASSETS/PROPERTY / Securities of M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad. Four immovable properties comprising of one commercial property and four residential properties at Ahmedabad owned by the promoters /directors of the above company. 1 Issue of Bid/Offer Document : The Bid/Offer Document can be obtained from the Authorized Officer Shri Raghu Bir Singh, IDBI Bank Ltd., Recovery Department, Head Office, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai from up to on any working day (except Saturday and Sunday) between a.m. and 5.00 p.m. on payment of a non-refundable fee of Rs.300/-- (Rupees Three hundred only) by a crossed A/c Payee Demand Draft/Pay Order drawn in favor of "IDBI Bank Ltd. " payable at Mumbai issued by any Nationalized Bank/Scheduled Bank. The Bid/Offer Document can also be downloaded from IDBI website ( from up to Those bidders preferring to download the Bid Document from the website shall have to furnish the non-refundable fee of Rs.300/- (Rupees Three hundred only) as mentioned above with the Bid Document at the time of submission of the Bid. 2 Cost of the Bid/Offer Document 3 Last Date and time for submission of Bid/Offer : Rs.300/- (Rupees Three hundred only) : So as to reach the Recovery Officer at Mumbai on or before March 4 th 2013 up to 2.30 PM. 4 Place, Date and time of opening of Bids/Offers : IDBI Bank Ltd. Recovery Department, 11 th Floor, IDBI Bank Ltd,. Head Office, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai on March 4 th 2013 at 3.30 PM. 17

18 VIII. FORM OF BID/OFFER : FORM OF BID/OFFER FOR PURCHASE OF SECURED ASSETS/PROPERTY OF ASSETS/PROPERTY / Securities of M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad. Four immovable properties comprising of one commercial property and four residential properties at Ahmedabad owned by the promoters /directors of the above company. (To be filled and submitted by the Bidder/Offerer) 1 a) Full Name of the Bidder/Offerer (in Block letters) : b) Complete Postal Address with PIN Code, Telephone Nos.; Fax Nos.; Mobile Nos.; ID; Website, etc. : 2 Brief particulars of business : 3 Relationship, if any, the Bidder/Offerer has with any employee of IDBI Bank Ltd. : 18

19 Amount quoted by the Bidder/ Offerer for purchase of the Secured Assets/property ( Lot No. 1 ( Factory Land & Bldg.) and Lot No. 2- Plant & Machinery ) should be separately mentioned. Bids can be given for one or both the lots. In figures. : LotNo. Property Bid Amt. 1. Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad. 2. Residential flat being Flat No. 10 / 02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad. 3. Residential property on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad 4. Residential property on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad Rs. lakh in 5 Name and particulars of the Company/Firm/Person in whose name the Secured Assets/property are to be purchased. : 19

20 6 Details of Earnest Money Deposit (EMD) of Rs. ( Separate DD for the EMD of each property please.) 1.) Demand Draft No. / Pay Order No. 2.) Date of Demand Draft / Pay Order 3.) Date of Demand Draft / Pay Order 4.) Date of Demand Draft / Pay Order iiii) Name of the issuing Bank and Branch. : : : : LotNo. Property EMD amt. 1. Residential flat being Flat No. 10 / 01, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad. 2. Residential flat being Flat No. 10 / 02, D Block, Chinmay Crystal, on 10 th floor, Near Vastrapur Lake, Vastrapur, Ahmedabad. 3. Residential property on plot No.27 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad 4. Residential property on plot No.28 in S.No. 182/7 in AARYABHOOMI situated on Block No. 308 & 309, off Sardar Patel Ring Road, Opp. Sahara City, Village Shella, Taluka Sanand, Dist Ahmedabad Rs. lakh in 7 Income Tax Permanent Account Number(s) (PAN) of Bidder /Offerer. : 20

21 I/We have read and understood the detailed terms and conditions of the sale and have also read, perused and understood all the relevant papers and have carried out my/our own due diligence. In case any information is found to be incorrect/incomplete, I/We shall not hold the Authorized Officer or secured lenders responsible for the same and shall not have any claim whatsoever against either of them. Signature of the Bidder/Offerer Name and Designation of the Authorized Signatory Place: Date: 21

22 IX. FORM OF APPENDIX TO THE BID/OFFER (DECLARATION BY THE BIDDER) FORM OF BID/OFFER ASSETS/PROPERTY / Securities of M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad Four immovable properties comprising of one commercial property and four residential properties at Ahmedabad owned by the promoters /directors of the above company. (Note: This Appendix forms part of the Bid/Offer) To, Shri Raghu Bir Singh. Authorized Officer, IDBI Bank Ltd. Recovery Department, IDBI Tower,11 th Floor, WTC Complex, Cuffe Parade,Head Office, Mumbai Sir, SALE OF SECURED ASSETS/PROPERTY OF M/s Pooja Iron & Steel Pvt. Ltd., Ahmedabad. 1 Having fully examined and understood the terms and conditions of the Bid Document and condition and status of the Secured Assets/property, I/We offer to purchase the said Secured Assets strictly in conformity with the terms and conditions of this Bid/Offer Document. 2 I/We understand that if my/our Bid/Offer is accepted, I/We shall be responsible for the due observance and performance of the terms and conditions of the Bid/Offer and acquire the Secured Asset/property. Should I/We fail to execute and perform the terms and conditions when called upon to do so, the Earnest Money Deposit (EMD) shall be forfeited. I/We further understand that if my/our Bid/Offer is accepted, should I/we fail to deposit the balance amount of 75% of the sale consideration (after having paid 25% of the sale consideration) by the stipulated date, the said amount of 25% of the sale consideration (including Earnest Money Deposit) or any further amount/s paid by me/us shall also be forfeited, as laid down in the terms and conditions of the Bid Document. I/We further understand that if my/our Bid/Offer is accepted, after making full payment of the sale price within 15 days of acceptance of bid/offer or such extended period as may be granted by the AO at his sole and absolute discretion, I/we shall arrange to take possession of the secured assets within a maximum of 30 days. I/We understand that once the Sale Certificate is issued by the AO, the AO shall not be held responsible for security and safekeeping of the secured assets. We 22

23 further understand that in the event I/We fail to take possession of the Secured Assets as stated above, the AO reserves the right to revoke the sale confirmed in my/our favor and forfeit the entire amount paid by me/us and I/we shall have no claims on the secured assets or to any amount/s for which it may be subsequently sold. 3 I/We clearly understand and accept that the Authorized Officer or the secured lenders do not take or assume any responsibility for any dues, statutory or otherwise, of M/s Mira Organics Pvt. Ltd including such dues that may affect transfer of the assets in the name of the purchaser and such dues, if any, will have to be borne/paid by me/us in case my/our Bid/offer is accepted. 4 I/We understand that you are not bound to accept the highest or any Bid/Offer you may receive. Further, I/we will not raise any objection in case the Authorized Officer goes for re-bidding or sell the assets by any of the modes as prescribed in the SARFAESI Act including sale by negotiation with any of the bidders and/or other parties by private treaty. 5 I/We understand that time is the essence for completing the acquisition formalities of the Secured Assets/property and I/we agree and undertake to abide by it. 6 I/We also enclose 1. Demand Draft/Pay Order of Rs. 2. Demand Draft/Pay Order of Rs. 3. Demand Draft/Pay Order of Rs. 4. Demand Draft/Pay Order of Rs. (Separate DD for the EMD of each property please.) towards Earnest Money Deposit (EMD) of lot 1 / 2 in the name of "IDBI Bank Ltd.-A/c M/s Mira Organics Pvt. Ltd.." payable at Mumbai. We understand that the EMD will not carry any interest. 7 We understand that the Bid/Offer should be unconditional and Bid/Offer having conditions contrary to the terms and conditions of the Bid/Offer document can be summarily rejected. 23

24 Dated... day of Signature.... in the capacity of... duly authorized to sign Bid/Offer for and on behalf of...name and address of the Bidder/Offerer) (IN BLOCK CAPITALS). Important Note : The immovable property at Sr. No. 3 (5) specified in the sale notice i.e. Commercial Shop Nos. FF-11 and FF-12 ( combined ) on First Floor admeasuring about 494 sq. ft. and 516 sq. ft., respectively ( total about 1010 sq. ft ) in Chinmay Crystal, Opp. Vastrapur Lake Ahmedabad is dropped from the present sale and therefore the said property will not be available for inspection & Sale in this Bid Document. 24

25 X. PROFILE OF THE BIDDER COMPANY/FIRM/PARTY: 1. Name of the Company/Firm/Party 2. Correspondence Address in full (With PIN CODE) Telephone No. (with STD Code) Fax No. ID Website address, if any Address of Registered Office (in case of a company) Telephone No. (with STD Code) Fax No. ID 3. Date of Incorporation 4. Constitution (Private/Public/Joint) 5. Name of Chairman 6. Name of Managing Director 7. Board of Directors a) b) c) d) e) f) 8. Income tax PAN No. 9. Date of Last Income Tax Return (Enclose copy of last 3 years' Income Tax clearance certificate) Signature: Name of the Authorized Person : Designation: Company Seal All authorizations should be annexed to this form. 25