Notice is hereby given to the public in general and in particular to the Borrower(s), Sureties, Owner(s) and Mortgagor(s) that the below described immovable property mortgaged/charged to the Secured Creditors, the physical possession of which has been taken by the Authorised Officer (AO) of The City Co-operative Bank Ltd; Mumbai (Secured Creditor) will be sold on “As is where is”, “As is what is“ and “Whatever there is” basis for recovery of Rs.9,34,23,519.17 as on 31/05/2023 due to the Secured Creditor from the Borrower Mrs.Nisha Navin Shah and Ms.Kirti Shashikant Radia Partners of M/s.Niki Jewels And Sureties viz.1. Mr.Navin Shivlal Shah 2. Mr.Dipan Pratap Mehta 3. Mrs. Nisha Navin Shah and 4. Ms.Kirti Shashikant Radia as per the brief particulars given hereunder:
Description of property: Flat No.5&6 having Carpet area of both the Flats together is 1071 sft. & the Total Built up area of both the Flats together is 1309sft.)Ground Floor, Om Rishikesh CHS Ltd,Haridas Nagar ,Shimpoli Road,Borivali (West) Mumbai-400092.
Reserve Price: Rs. 2,08,00,000/- (Rs.Two Crore Eight Lakhs Only)
E.M.D. : Rs.5,00,000/-
Auction date and time: On 25.07.2023 at 4.00 p.m.
Terms & conditions of sales :
• The Borrower(s)/Sureties/Owners (s)/Mortgagor(s) are given a last opportunity to pay the total outstanding dues with further interest before the date of above auction, else these secured assets will be auctioned and sold as per schedule.
• The offers to be submitted in a sealed envelope superscribed, “Offer for purchase of immovable property in respect to Loan Accounts of M/s. Niki Jewels Partners – Mrs. Nisha Navin Shah and Ms. Kirti Shashikant Radia (Borrowers) and should submit the said sealed envelope at the above mentioned venue of auction on or before 25.07.2023 by 4.00 p.m. by the prospective bidder & EMD amount to be remitted by RTGS to Account No.0453102000003117, IFSC Code IBKL0000453 in favour of The City Co-operative Bank Ltd., Mumbai
• To the best knowledge and information of the Authorised Officer, there is no encumbrance on the above residential premises (Secured Assets). However, the intending bidders should make their own independent inquiries regarding the encumbrances, title of premises put on auction and claims/rights/dues/affecting the property, prior to submitting their bid. The Auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of The City Co-operative Bank Ltd. The property is being sold with all the existing and future encumbrances whether known or unknown to the bank. The Authorised Officer/Secured Creditor shall not be responsible in any way for any third party claims/rights/dues. No claim of whatsoever nature will be entertained after submission of the bid regarding premises put for sale.
• It shall be the responsibility of the interested bidders to inspect and satisfy themselves about the property before submission of the bid.
• The Bid price to be submitted shall be above Reserve Price and bidders shall improve their further offer in multiples of Rs.50,000/- (Rupees Fifty Thousand Only).
• The Earnest Money Deposit (EMD) of the successful bidders shall be retained towards part sale consideration and the EMD of unsuccessful bidders shall be refunded.
• The EMD shall not bear any interest. The successful bidder shall have to deposit 25% of the sale price including EMD already paid on the same day or not later than next working day on the day of acceptance of bid price by the Authorised Officer and the balance of the sale price on or before 15th day of sale. The auction sale is subject to confirmation by the Secured Creditors, i.e. The City Co-operativeBank Ltd., Mumbai. Default in deposit of amount by the successful bidder would entail forfeiture of the whole money, already deposited and said property shall be put to re-auction and the defaulting bidder shall have no claim/right in respect of the said property/amount.
• The purchaser shall bear the applicable stamp duties/Registration fee/other charges, etc. and also all the statutory/ non statutory dues, taxes, assessment charges, etc owing to anybody.
• The Authorised Officer/Bank is not bound to accept the highest offer and has the absolute right and discretion to accept or reject any or all offer(s) or adjourn/postpone/cancel the Auction or withdraw property or portion thereof from the auction proceedings at any stage without assigning any reason thereof
• The sale certificate will be issued in the name of the purchaser(s) only and will not be issued in any other name (s).
• Bidder(s) shall be deemed to have read and understood the terms and conditions of sale/auction and be bound by them.
