INDIA RESURGENCE ARC PRIVATE LIMITED

3rd Floor, Piramal Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg,
Lower Parel, Mumbai 400013. T: 022 - 68608500 / 68608501
CIN: U67190MH2016PTC272471
APPENDIX IV-A[PROVISO TO RULE 8(6)] PUBLIC NOTICE FOR E-AUCTION FOR SALE OF IMMOVABLE PROPERTIES
E-auction sale notice for sale of Immoveable Property under SARFAESI Act, 2002 read with proviso to rule 8(6) of Security Interest (Enforcement)
Rules, 2002.
Notice is hereby given to the public in general and in particular to borrowers and guarantors, details whereof are mentioned below, that the
below described Immoveable Property mortgaged/charged to the India Resurgence ARC Private Limited (India RF/Secured Creditor), the symbolic
possession of which has been taken by the Authorised Officer of India RF/Secured Creditor on 3 December 2020 will be sold on “AS IS WHERE IS
BASIS”, “AS IS WHAT IS BASIS” and “WHATEVER THERE IS BASIS” as per the brief particulars mentioned in the schedule.
Name of the Account/ Borrowers/ Guarantors Navkar Wood, Nilesh Kumar Faria, Premji M Fariya, Maniben Premji Fariya, Navkar Associates
Name of the owner of the property Nilesh Kumar Faria, Maniben Premji Fariya
Details of property “All that piece and parcel of leasehold compartment Plot No.134 of plot no. 24/25, admeasuring 486
Sq.yards (equivalent to 421 sqr mtr or 4539 sq ft) along with structures thereon admeasuring approx.
4,610 sq ft, at Survey No. 48 (part), Hissa No. 1 (Part), situated at Marol Co-operative Industrial
Estate, at Village Marol, JB Nagar, Andheri (East), Mumbai – 400059.”
Nature of Possession and date Symbolic Possession dt. 3 December 2020
*OutstandingAmount (as on current date) & • Rs. 6,63,47,207 as on 15.01.2019 as per demand notice
date of demand notice • Rs. 9,63,88,230 as on 31.07.2021 as on date
Reserve Price (INR) Rs. 7,23,00,000 (Rupees Seven Crore Twenty Three Lakh Only)
EMD/ Bid Increase Amount • EMD - INR 72,30,000 (Rupees Seventy Two Lakh Thirty Thousand Only)
• Bid Increase Amount – Rs. Seven Lakh
Last date of submission of bid 17 September 2021
Date/ Time of e-Auction 20 September 2021 at 12:00 hrs
**Known encumbrances if any None
*together with further interest as applicable, incidental expenses, costs, charges, etc. incurred up to the date of payment and realisation thereof.
**other than the encumbrances mentioned in the table above, there are no encumbrances on the Immoveable property to the best of knowledge of
Authorised Officer of Secured Creditor. The intending bidders should do their own independent diligence regarding the encumbrances, title of the
Immoveable Property. The Authorised Officer/ Secured Creditor shall not be responsible in any way for any third-party claims/ rights/ dues.
TERMS & CONDITIONS
1. E-Auction/bidding shall be only through “Online Electronic Bidding’’ through the website https://www.bankauctions.in. Bidders are advised to
go through the website for detailed terms & process before taking part in the e-Auction sale proceedings.
2. The property & property documents can be inspected, with prior appointment with Authorized Officer on or before the date for e-Auction mentioned.
3. The Immovable property will not be sold below the Reserve Price (RP) and accordingly the participating bidders are invited to bid more than
the RP and may enhance their offer further during auction process as specified by the agency conducting the auction i.e. M/s 4Closure.
4. The interested bidders before the last date & time of submission of the Bid shall submit their Earnest Money Deposit (EMD) to Elexa Resolution
Advisors LLP, duly authorised service provider of India RF at their office at AWFIS, Unit no. 304, 3rd Floor, Adani Inspire BKC, G Block, Bandra
Kurla Complex, Mumbai- 400051 through Demand Draft/NEFT/RTGS/PAY ORDER in favor of “India Resurgence ARC Trust II”, HDFC Bank
Limited, Account Number- 57500000340699, IFSC Code: HDFC0000060 payable at Mumbai. Please note that the Cheques shall not be
accepted as EMD amount.
5. Interested bidder shall submit copy of the following documents with the Authorised Officer Mr. Harshwardhan Kadam ( Mobile No. 9819058003
/ [email protected]) -a) Photocopy of Demand Draft/RTGS/NEFT/ PAY ORDER details towards EMD amount.
b) Self-attested photocopies of KYCs and address proof such as PAN Card, Voter ID Card/ Driving License/ Passport/ Aadhar Card etc.
c) Bidders Name, Contact No., Address, e-mail ID. d) Bidder’s account details for online refund of EMD.
6. Post registration (one time) by the bidder, the interested bidder may upload the details of aforementioned documents on the Web Portal.
7. The intending bidders should register their names at portal https://www.bankauctions.in and get their User ID and password free of cost.
It shall be the obligation of the prospective bidder to avail online training on E- Auction from the agency conducting the auction/service provider
namely M/s 4Closure, Hyderabad, helpline No: 0814200062/65/66 and e-mail: [email protected], Contact Person: Vikas Kumar :
08142000809, 08076427383,email: [email protected] and for any property related query may contact Authorised Officer (details given
earlier) during the working hours from Monday to Saturday. Neither the Authorised Officer/Secured Creditor nor the agency conducting auction
shall be liable for any Internet Network problem and the interested bidders to ensure that they are technically well equipped for participating in
the e-Auction event.
8. Only buyers holding valid KYC, address proof, user ID/ Password and confirmed payment of EMD through any of the mode mentioned above
in favor of “India Resurgence ARC Trust II” shall be eligible for participating in the e-Auction process.
9. During the Online Inter-se Bidding, bidder can improve their bid amount as per the ‘Bid Increase Amount’ (as indicated by the agency conducting
the auction namely M/s 4Closure) or its multiples. In case bid is placed during the last 5 minutes of the closing time of the e-Auction, the closing
time will automatically get extended for 5 minutes (each time till the closure of e-Auction process), otherwise, it’ll automatically get closed. The
bidder who submits the highest bid amount (not below the Reserve Price) on the closure of the e-Auction process shall be declared as the
highest bidder by the agency holding auctions. The Authorised Officer post verification of the documents and other information shall thereafter
declare such highest bidder as successful bidder and shall confirm the sale in his favour subject to confirmation by the Secured Creditor.
10. The EMD of the successful bidder shall be retained towards part sale consideration and the EMD of unsuccessful bidders shall be refunded.
The EMD shall not bear any interest.
11. The successful bidder shall immediately pay 25% of the amount of sale price (inclusive of the earnest money already deposited) on the same
day or not later than next working day from the date of confirmation of sale in favor of Secured Creditor in the account as mentioned
hereinabove. The balance 75% of the sale price shall be paid on or before 15th day of confirmation of sale or within such extended period as
agreed upon in writing between the purchaser and the Secured Creditor, which shall not in case exceed three months.
12. In the case of default of payment within the prescribed time mentioned above, the amounts deposited by the purchaser shall be forfeited by
the Secured Creditor and the property shall be resold by the Secured creditor. All the claims and rights over the property of the defaulting
purchaser shall stand forfeited.
13. Once the terms of the payments mentioned above have been complied, the Authorised Officer shall issue certificate of sale of the immovable
property in favor of the purchaser.
14. The purchaser shall bear the applicable stamp duties/ additional stamp duty/ transfer charges, fees etc. and also all the statutory/ non-statutory
dues, taxes, rates, assessment charges, fees etc. owing to anybody in relation to the property.
15. The Authorized Officer in its sole discretion may accept or reject any bid, adjourn/ postpone/ cancel the e- Auction without any prior notice and
without assigning any reason thereof.
16. The bidders are advised to go through the detailed Terms & Conditions of e-Auction Process available on the web portal of
https://www.bankauctions.in, before submitting their bids and taking part in the e-Auction.
17. Special Instructions: Bidding in the last moment should be avoided. Neither the Secured Creditor nor Service provider will be responsible
for any technical lapse/ power or internet failure etc. In order to avoid such contingent situations bidders are requested to ensure that they are
technically well equipped and have all alternatives such as power supply back-up etc., so that they are able to circumvent such situation and
are able to participate in the online Inter-se Bidding, successfully.
18. Notwithstanding anything to the contrary contained hereinabove, if the borrower has paid the outstanding amount along with future interest
computable till the date of payment in full any time before the date of publication of this notice for public auction, in such an event in terms of
section 13 (8) of SARFAESI Act, 2002, the Secured Creditor shall not transfer the Secured Assets by way of lease, assignment or sale.

Date: 9 August 2021