Debts Recovery Tribunal - I
Chennai
DRC No.217/1998
The under mentioned property will be sold by public auction on 27.7.2006 for recovery of a sum of Rs.76,06,931.25p (Rupees seventy six lakhs six thousand nine hundred and thirty one and paise twenty five only) plus further interest and costs due from M/s Century Motors Pvt. Ltd., and 2 others. The auction will be held at 3.00 P.M at Debts Recovery Tribunal – I, Chennai -2. The property will not be sold below the upset price mentioned.
The lease hold rights (for the remaining period upto 20.3.2008) on the land admeasuring one acre and 29357 sq.ft. situate at No.1/21, G.S.T.Road, Meenambakkam, Chennai – 600 016 and the superstructure built thereon.
Upset price: Rs. 15,00,000/ -(Rupees Fifteen Lakhs only)
Note : As per the information furnished by the Government of Tamil Nadu, the land belongs to the Government and the Government have not leased out the property. The land is, however, under the occupation of M/s Century Motors, the defendant company and they have applied to the District Collector, Kanchipuram for assignment of the land to the company and the proposal is pending with the District Collector, Kanchipuram. Hence, the property is sold on as is where is basis and the auction purchaser has to have the leasehold rights/title of the property regularized from the Government of Tamil Nadu.
The intending bidders should pay 10% of the upset price of the property as EMD by means of a D.D. drawn in favour of the “Recovery Officer, DRT-I, Chennai for DRC No. 217/98” payable at Chennai before 12.00 noon on the date of auction.. They can inspect the property between 11.00 A.M. and 3.00 P.M. on 26.7.2006
For further details regarding other conditions of sale, the undersigned or the Manager, Bharath Overseas Bank, T.Nagar Branch, Chennai – 17 may be contacted personally or over Ph. Nos.044-2852 2983/28520748/2852 3949.
(R. PANDIYAN)
RECOVERY OFFICER-I