Debts Recovery Tribunal - I

Chennai


DRC No. 291/2003

      

The under mentioned property will be sold by public auction on 2.8.2006                         for recovery of a sum of Rs.23,09,68,243/- (Rupees Twenty three Crores nine lakhs sixty eight thousand two hundred and forty three only) plus further interest and costs due from M/s Origin Agrostar Ltd. and 3 others.  The auction will be held at Debts Recovery Tribunal-I, Chennai-2 at 3.00 P.M. The property will not be sold below the upset price mentioned.

DESCRIPTION OF PROPERTY

 

            Lease hold rights (for the remaining period of about 80 years) over land admeasuring 40.02 acres  comprised in RS No. 94/1 part, 94/2A part, 95/1, 95/2 part, 96/2 part, 97, 98 part, 99, 100/1, 100/3A, 112 part, 113 part, 114 part and  Plot No. C-17  in the Cuddalore Industrial Area set up by SIPCOT within the Village limits of Kudikadu, Cuddalore District bounded on the East by west land(private); West and North by SIPCOT Road and South by SIPCOT land in RS No. 96/2 part and 95/2 part situated within the Sub-Registration District of Cuddalore together with factory buildings and manufacturing plant and machinery for processing 350 TPD, Tapioca, tubers and chips to produce 22 TPD starch powder, 40 PPD liquid glucose, 10 TPD Dextrose Mono Hydrate (DMH) in the premises known as “Origin Agrostar Ltd.”

Upset price: Rs. 9,30,00,000/-(Rupees  Nine Crores thirty  lakhs only)

NOTE: The property is sold on “as is where is “ basis.

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.291/2003”  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 1.8.2006         

For further details regarding the property and other conditions of sale, the undersigned or Asst. General Manager (Legal), IDBI, 115, Anna Salai, Saidapet, Chennai  may be contacted personally or over Ph. Nos.044- 2220 20 91/2220 2000

(R.PANDIYAN)

RECOVERY OFFICER