The Authorised Officer (AO) of IDBI Bank Ltd. Recovery Department 1 st Floor, Videocon Tower, E-1, Jhandewalan Extension, New Delhi 110055 Contact Nos.: 011-66083093, 66083096, (Fax) 011-66083099 e-mail : ashwanik.agarwal@idbi.co.in BID DOCUMENT For Sale of Assets of M/s Arvind Coirfoam Private Limited (ACPL) Under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and The Security Interest (Enforcement) Rules, 2002
-2- CONTENTS Particulars Page Nos. I. Public Notice for SALE published in the newspapers 3-4 II. Possession Notice published in the newspapers 5-6 III. Introduction 7 IV. Brief Description - Immovable & Movables 8 V. Outstanding dues of Secured Lenders 9 VI. Terms & Conditions 10-13 VII. Brief details of Bid/Offer document 14 VIII. Form of Bid/Offer 15-16 IX. Form of Appendix to the Bid/Offer 17-18 (declaration by the Bidder) X. Form of Profile of the Bidder Company / Firm /Party 19
I. PUBLIC NOTICE FOR SALE PUBLISHED IN THE NEWS PAPERS Published in Hindi in Rajasthan Patrika, Jaipur Edition on 14.10.2013
Published in English in Times of India, Jaipur Edition on 14.10.2013
II. POSSESSION NOTICE PUBLISHED IN THE NEWS PAPERS Published in English in Times of India, Jaipur Edition on 01.09.2013 (Sunday) Published in Hindi in Dainik Bhaskar, Jaipur Edition on 01.09.2013 (Sunday)
III. INTRODUCTION IDBI Bank Ltd. (IDBI), Recovery Department having its office at 1 st floor, Videocon Tower, E-1, Jhandewalan Extension, New Delhi - 110055 issued a notice dated 21.07.2012 under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act ) calling upon Arvind Coirfoam Private Ltd., a company registered under the Companies Act, 1956 having its Registered Office at 2 nd Floor, 15, Ganesh Chandra Avenue, Kolkatta, West Bengal-700013 to repay within 60 days from the date of the said notice, the amount mentioned in the said notice being Rs. 6,41,41,656/- (Rupees Six crore forty one lakh forty one thousand six hundred & fifty six only) as on June 30, 2012 together with further interest and other expenses/costs thereon from July 1, 2012 at the contractual rates upon the footing of compound interest until payment/ realization. Though the Borrower acknowledged receipt of the said notice, it failed to discharge the liability. The Authorised Officer (AO) of IDBI has taken possession of the assets (more particularly mentioned in the Possession Notice annexed at item No.II herein together with list of movables at item No.V of this Bid Document) on August 27, 2013, which are mortgaged/hypothecated by the Borrower for securing the credit facilities availed from IDBI as indicated at item No. VI of this Bid Document, after complying with the procedure in the presence of Witnesses/Panchs besides other officials of IDBI. The AO, after taking possession of the assets caused the inventory of the assets to be prepared. The AO published the possession notice in the newspapers as required under the SARFAESI Act. The AO has also engaged the services of a security agency to protect and guard the secured assets and has also insured the assets from possible perils/risks. The AO has also got the assets valued after taking possession as required under the SARFAESI Act. The list of secured assets being put on sale are mentioned hereinafter.
IV. DETAILS OF IMMOVABLE ASSETS/PROPERTIES All that part and parcel of the property admeasuring 6515.60 sq. mtrs situated at E-15, Bagru Extension, RIICO Industrial Area, Bagru, Jaipur in the state of Rajasthan together with all building and structures thereon. V. DETAILS OF MOVABLE ASSETS/PROPERTIES Sr. Description of plant and machinery, equipments and other Qty. No. movable assets 1 Sewing Machine 1 2 Sewing Machine VI 1 3 Sheet Cutting Machine II 1 4 Sheet Cutting Machine III 1 5 Sreeding Machine (WIP) AIL II 1 6 Weighing Machine S 1 7 D.G. Set 1 8 D.G. Set (ALL II) 1 9 D.G. Set Mini 1 10 Electrical Connection upto meter Box 1 11 Electrical Insattation/ main Panel 1 12 Panel Board 1 13 Power Capacitor 1 14 Transformer 1 15 Material Trolley 2 16 Machine Make tripped 1 17 15 Cotton Mattresses, Iron Bed and 1 Double Bed 1 18 Sewing Machine 10 19 Plastic Drum 6 20 Gas Cylinder 1 21 Office Table Old 5 22 Electric Motor 1 23 Chairs 15 24 Fans 6 25 Panasonic Fax Machine 1 26 Ac LG 1 27 Chamber Machine 1 28 Sheet Machine 1 29 Cutter Machine 1 30 Machine Misc 2 31 New Machine 1 32 Electric wire Bundle 1 33 Jali Iron 34 34 Iron Scrap 1 35 Water Motor 1
VI. OUTSTANDING DUES OF IDBI (SOLE LENDER) Nature of Outstanding (in Rs.) as on 31.07.2013 Facility Principal Interest Total Cash Credit1* 4,40,00,000/- 2,10,87,850/- 6,50,87,850/- ILC/FLC/BG* Cash Credit2** 1,00,00,000/- 55,00,199/- 1,55,00,199/- LCBD Expenses 1,69,512/- 9,172/- 1,78,684/- Total 5,41,69,512/- 2,65,97,221/- 8,07,66,733/- *Cash C redit limit of Rs. 300 Lakh, ILC/FLC/BG limit of Rs. 140 lakh fully interchangeable with Cash Credit limit. **LCBD limit of Rs. 150 lakh reduced and converted to regular Cash Credit limit of Rs. 100 lakh
VII. TERMS AND CONDITIONS 1 The Authorised Officer (AO) exercising the powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Security Interest (Enforcement) Rules, 2 002 (hereinafter referred to as "the SARFAESI Act") is selling the assets/properties mentioned at item Nos. IV and V of the Bid/ Tender Document (hereinafter referred to as the Secured Assets and the same are being sold free from c harges and encumbrances of the Secured L enders mentioned at item No.VI of the Bid Document. 2 Issue of Bid Document The Bid Document along with Bid/Offer Form is on sale from October 14, 2013 to November 18, 2013 between 10 a.m. and 4.00 p.m. on any working day (except Saturday) and can be obtained from the IDBI Bank Ltd. Showroom No. 2 & 3, Sunny Paradise, Near Kamal & Company, Tonk Road, Jaipur-302015 or from the office of the undersigned on payment of a non-refundable fee of Rs. 250/- (Rupees Two hundred fifty only) by a crossed A/C Payee Demand Draft/Pay Order drawn in favour of "IDBI Bank Ltd." payable at Jaipur/ New Delhi. The Bid document can also be downloaded from IDBI s website at www.idbi.com from October 14, 2013. However the sub mission of such downloaded Bid document should be accompanied by a demand draft of Rs. 250/- towards the cost of bid document at the time of submission of bid. 3 Reserve Price The Reserve price for the sale of the Secured Assets comprising both movable immovable properties is divided into three Lots. Lot-I (comprising Land & Building) Rs. 3,52,50,000/- Lot-II (comprising Plant & Machinery) Rs. 8,15,000/- Lot-III (All Assets) Rs. 3,60,15,000/- and Earnest Money Deposit (EMD) Lot-I (comprising Land & Building) Rs. 35,25,000/- Lot-II (comprising Plant & Machinery) Rs. 81,500/- Lot-III (All Assets) Rs. 36,01,500/- 4 The sale of Secured Assets is on "as is where is As is what is whatever there is and without recourse basis. The description of immov able properties is based on the mortgages cr eated by the Borrower with the Secured L enders viz. IDBI Bank Ltd., from time to time and the representations made by them. The description of movable properties is based on the inventory prepared by the AO showing the status as on August 27, 2013. The AO do not take or assume any responsibility for any shortfall of the movable/immovable assets or for procuring any permission, etc. or for the dues of any authority established by law. All statutory liabilities / taxes / maintenance fee / electricity / water charges etc., outstanding as on date and yet to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder. It is expressly made clear that the AO / Bank do not take any respon sibility to provide information on the same. The AO / Bank do not take or assume a ny responsibility for any dues, statutory or otherwise, of Borrower i ncluding such dues that may affect transfer of the assets in the name of the purchaser and such dues, i f any, will have to be borne/paid by
the purchaser. If the dues of the Bank together with all costs, charges and expenses incurred by them or part thereof as may be acceptable to the Bank are tendered by/ on behalf of borrower/ guarantor(s) at any time on or before the date fixed for sale, the sale of the asset may be cancelled. 5 Inspection of assets The interested parties may inspect the assets at their own cost between 10.00 a.m. and 5.00 p.m. on the assigned dates viz. on 29-10-2013 & 30-10-2013 in th e presence of a representative of the AO available at the site to facilitate the inspection. 6 Due Diligence by the Bidders The interested parties may carry out their own due diligence in respect of the Secured Assets including any dues related to the Se cured 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 or not. 7 The bidders shall be deemed to have inspected and app roved 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 details of movable assets 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, quantities, qualities, specifications, measurements, boundaries and abuttals of the assets/properties and that the bidder concurs or otherwise adm its 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 r e-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 Bidder shall complete in all respects the Bid/Offer form(s) annexed to the Bid Document, quote the price 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 bidders shall enclose a copy of PAN card and Proof of Residential/ Registered Address. Offers received for sale and / or accepted are not transferable. 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., e-mail-id, if any, of the Bidder for serving notices required to be given to the Bidder in connection with the Bid/Offer. 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 at IDBI Bank Ltd. Showroom No. 2 & 3, Sunny Paradise, Near Kamal & Company, Tonk Road, Jaipur- 302015 upto 12:00 noon by November 19, 2013, containing a crossed A/C Payee Demand Draft/Pay Order drawn in favour of "IDBI Bank Ltd." payable at Jaipur issued by any Nationalised Bank/Scheduled Bank as Earnest Money Deposit (EMD) and Bid, in a sealed envelop which shall be superscribed EMD and Bid for Arvind Coirfoam Private Ltd. Property. Interested parties can participate in the sale process for one or multiple properties, as they desire. Separate Bid Documents along with EMD to be submitted for each Property. Form of Tender /Offer / Bid, if found incomplete in any respect, shall be liable for outright rejection. 14 Opening of Bids The bids will be opened by the AO at 2:00 p.m. on November 19, 2013 in the presence of the interested Bidders a nd the Borrower, if they choose to remain present. Covers containing EMD and Bid shall be opened and only those bidders will be permitted to remain present whose Demand Draft/Pay Order for EMD are found to be in order. The qualified bidders shall have the opportunity to participate in inter-se bidding to increase their bids. 15 The amount of EMD will not carry any interest and AO reserves the right to retain the EMD of top three bids up to three months from the date of opening of bids. The EMD of other bids will be returned on the same date. The Bids so retained will be valid for two months or till further extension of time as approved by the AO from the date of opening of the bids. 16 Bids/Offers with amount less than the reserve price (as indicated at para 3 above and also in sale notice) shall be out rightly rejected and the EMD amount of such Bids/Offers will be forfeited without assigning any reasons. Form of Bid/Offer if found incomplete in any respect shall be also outright rejected. 17 Sale is subject to confirmation by Bank. 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 will be required to deposit 25% of the sale price less the amount of EMD within 2 days from the date of opening of Bid by crossed A/C Payee Demand Draft/Pay Order drawn in favour of "IDBI Bank Ltd." payable at Jaipur issued by any Nationalised Bank/Scheduled Bank. The balance amount of the sale price shall have to be paid within 15 days from the date of confirmation of sale, by way of crossed A/C Payee Demand Draft/Pay Order drawn in favour of " IDBI Bank Ltd." payable at Jaipur issued by any Nationalised Bank/Scheduled Bank, or such extended period as may be agreed upon in writing by the AO. 19 In case the successful bidder fails to deposit 25% of the sale price, the AO shall forfeit the EMD amount 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. 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.
21 In the event of the successful bidder failing to pay the consideration amount within the time schedule stipulated, the AO reserves the right to resell the assets to the second/third highest bidder in the above manner, who shall also be treated as the successful bidder mentioned in clauses 14 to 16 above and further in terms of this Bid Document. 22 On confirmation of sale and if the terms of payment have been complied with, the AO exercising the power of sale shall issue Certificate of Sale for the movable property and the immovable property in favour of the purchaser as per the format provided in the Security Interest (Enforcement) Rules, 2002. 23 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 sole and absolute discretion, arrange to take possession of the Secured Assets immediately thereafter. It is explicitly stated that once the Sale Certificate is issued by the AO, the AO shall not be held responsible for security and safe-keeping of the Secured Assets. 24 The purcha ser 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 i t 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 all statutory liabilities / housing society tax / maintenance fee / electricity / water charges etc., outstanding as on date and yet to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder to get the assets transferred in his /her/their name. Bank does not take any responsibility to provide information on the same. 25 The submission of the Bid/Offer means and implies that the Bidder/Offerer has unconditionally and irrevocably agreed to and accepted all the above terms and conditions of the Bid/Offer laid down herein. 26 The time hereinabove fixed for the obs ervance 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. 27 General Terms and Conditions The AO shall be at liberty to amend/modify/delete/drop any of th e above conditions as may be deemed necessary in the light of the facts and circumstances. 28 The entire procedure of opening of Bids/Offers, the sequence of opening and bidding, etc. shall be at the sole discretion of the AO and the intending bidders sh all have no right whatsoever to object to the same. 29 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 h is 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.
30 In the event the said sale in favour of the bidder not being confirmed by AO, o therwise 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, charges and expenses of and incidental to the said sale and investigation of title or any other costs incurred by him/her. 31 Notwithstanding anything stated elsewhere in this Tender Document, the AO reserves the right to call off the sale process at any point of time without assigning any reasons. 32 Jurisdiction All disputes arising amongst the parties shall be adjudicated according to Indian Law and the Courts in Jaipur alone shall have jurisdiction to entertain/adjudicate such disputes. * * * * * * * * * * *
VIII. BRIEF DETAILS OF BID/OFFER DOCUMENT IDBI BANK LTD. BID/OFFER FORM FOR PURCHASE OF SECURED ASSETS/PROPERTY OF ARVIND COIRFOAM PRIVATE LTD. (ACPL) Located at Plot no. E-15, Bagru Extension, RIICO Industrial Area, Bagru, Jaipur in the state of Rajasthan 1 Issue of Bid/Offer Document : The Bid Document can be obtained from IDBI Bank Ltd. Showroom No. 2 & 3, Sunny Paradise, Near Kamal & Company, Tonk Road, Jaipur-302015 OR from the office of the st Authorised Officer at 1 floor, Videocon Tower, E-1, Jhandewalan Extension, New Delhi - 110055 on any working day (except Saturday) between 10.00 a.m. and 4.00 p.m. on payment of a non-refundable fee of Rs. 250/- (Rupees Two hundred fifty only) by a crossed A/C Payee Demand Draft/Pay Order drawn in favour of "IDBI Bank Ltd." payable at Jaipur/ New Delhi. The Bid document can also be downloaded from IDBI s website at www.idbi.com from October 14, 2013. However the submission of such downloaded Bid document should be accompanied by a demand draft of Rs. 250/- towards the cost of bid document at the time of submission of bid Separate Bid Documents along with EMD to be submitted for each Property. 2 Cost of the Bid/Offer Document 3 Last Date and time of submission of Bid/Offer : Rs.250/- (Rupees Two Hundred & Fifty only) : November 19, 2013 upto 12:00 noon 4 Place, Date and time of opening of Bids/Offers : Place: IDBI Bank Ltd. Showroom No. 2 & 3, Sunny Paradise, Near Kamal & Company, Tonk Road, Jaipur-302015. Date : November 19, 2013 Time : 2:00 p.m. * * *
IX. FORM OF BID/OFFER FORM OF BID/OFFER FOR PURCHASE OF SECURED ASSETS/PROPERTY OF M/s ARVIND COIRFOAM PRIVATE LIMITED LTD. Located at Plot no. E-15, Bagru Extension, RIICO Industrial Area, Bagru, Jaipur in the state of Rajasthan Lot -1 (Land and Building) Lot-2 (Plant & machinery and other miscellaneous items) Lot -3 (All Assets) Tick the Lot for which the bid is being made 1 a) Full Name of the Bidder/Offerer (in Block letters) (To be filled and submitted by the Bidder/Offerer) b) Complete Postal Address with : PIN Code, Telephone Nos.; Fax Nos.; Mobile Nos.; E- Mail ID etc. (Proof of Residential/ Registered Address to be enclosed) 2 Brief particulars of business : : 3 Relationship, if any, the Bidder/Offerer has with any employee of IDBI Ltd. : 4 Amount quoted by the Bidder/ Offerer for purchase of the Secured Assets/property. In figures : Rs. In Words : Rupees 5 Name and particulars of the Company/Firm person in whose name the Secured Assets/ property are to be purchased 6 Details of Earnest Money Deposit (EMD) : : i) DD/ Pay Order No. : ii) Date of DD/Pay Order :
iiii) Name of the issuing Bank and Branch 7 Income Tax Permanent Account Number(s) of Bidder /Offerer (Copy of PAN card to be enclosed) : : 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 h ave carried out my/our own due diligence. In case any information is found to be incorrect, I/We shall not hold the Authorised Officer or secured lenders responsible for the same and shall not have any claim whatsoever against either of them. Place : Date : Signature of the duly authorised official of the Bidder/Offerer Name and Designation of the Authorised Signatory
X. FORM OF APPENDIX TO THE BID/OFFER (DECLARATION BY THE BIDDER) FORM OF BID/OFFER (Note: This Appendix forms part of the Bid/Offer) To, Shri Ashwani K Agarwal, Authorised Officer, IDBI Bank Ltd. Showroom No. 2 & 3, Sunny Paradise, Near Kamal & Company, Tonk Road, Jaipur- 302015 Dear Sir, SALE OF SECURED ASSETS/PROPERTY OF ARVIND COIRFOAM PRIVATE LTD. Located at Plot no. E-15, Bagru Extension, RIICO Industrial Area, Bagru, Jaipur in the state of Rajasthan 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), the said amount of 25% of the sale consideration (including Earnest Money Deposit) 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, 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 sole and absolute discretion, I/We shall arrange to take possession of the Secured Assets immediately thereafter. I/We undertake that once the Sale Certificate is issued by the AO, the AO shall not be held responsible for security and safe-keeping of the Secured Assets.
3 I/We clearly understand and accept that the Authorised Officer or the secured lenders do not take or assume any responsibility for any dues, statutory or otherwise, of M/s Arvind Coirfoam Private Ltd. including such dues that may affect transfer of the assets in the name o f 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 Authorised 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 esse nce 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 a Demand Draft/Pay Order of value Rs. lakh (Rupees only) towards Earnest Money Deposit (EMD) in the name of " IDBI Bank Ltd." payable at Jaipur. We understand that the EMD will not carry any interest. 6 We understand that the Bid/Offer should be unconditional and Bid/Offer having conditions contrar y to the terms and conditions of the Bid/Offer document can be summarily rejected. Dated... day of...... Signature.... in the capacity of... duly authorised to sign Bid/Offer for and on behalf of... (Name and address of the Bid/Offerer) (IN BLOCK CAPITALS) WITNESS : Signature :... Name & Address :... Occupation :......
XI. FORMAT FOR SUBMISSION OF PROFILE OF THE BIDDER COMPANY/FIRM/PARTY 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. e-mail ID Website address, if any Address of Registered Office (in case of a company) Telephone No. (with STD Code) Fax No. e-mail 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. Date: Signature: Name of the Authorised Person : Designation : Company Seal All authorizations should be annexed to this form.