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Public Notice for sale-cum-auction of properties under Chandigarh Zone

The undersigned as ‘Authorised Officer of UCO Bank has taken over possession of following properties pursuant to the Notice issued U/s 13(2) of the Securitisation and Reconstruction of the Financial Assets and Enforcement of Security Interest Act 2002(SRFAESI). It has been decided by the undersigned to sell the properties of the under noted borrowers/guarantor detailed herein below on "AS IS WHERE IS & AS IS WHAT IS ‘ basis of realization of Bank’s dues.

Branch
Office		 Name of Loan Account Name of the owner of Property Description of Property Date of Possession Amount Recoverable Reserve Price Earnest Money
B/o Sector 22-D,

CHANDIGARH Ph: 0172-2773083, 2701761

 M/S Morion Chemicals Ltd., Regd. Office, SCO 44, Sector 30-C, Chandigarh

& B-4 & 5, Industrial Focal Point, Dera Bassi, Distt. Mohali

 M/s Morion Chemicals Ltd. Plot No. B-4&5, Industrial Focal Point, Dera Bassi, Punjab Industrial Plot, Area of Plot 11002 Sq. Yards and Building thereon at

M/s Morion Chemicals Ltd. Plot No. B-4 & 5, Industrial Focal Point, Dera Bassi, Punjab.

 24.08.2007 Rs. 35262965.60 + intt as on 31.03.2006 Rs. 334.39 lacs Rs. 35 lacs
B/o Sector 22-D,

CHANDIGARH Ph: 0172-2773083, 2701761

 M/S Morion Chemicals Ltd., Regd. Office, SCO 44, Sector 30-C, Chandigarh & B-4 & 5, Industrial Focal Point, Dera Bassi, Distt. Mohali M/s Morion Chemicals Ltd. Plot No. B-4&5, Industrial Focal Point, Dera Bassi,

Punjab -do-

 Plant & Machinery installed at M/s Morion Chemicals Ltd., Plot No. B-4 & B-5, Industrial Focal Point, Dera Bassi, Punjab

(Details of Machinery can be had/ inspected from the Senior Manager, UCO Bank, Sector 22-D, Chandigarh Ph: 0172-2773083, 27021621.

 24.08.2007 -as above- Rs.151.03

Lacs

 Rs. 16.00 lacs

Total Reserve Price is Rs. 485.42 Lacs

Total Earnest Money is Rs. 51 Lacs

NOTE:

  • THE LAND AND BUILDING WILL BE SOLD ALONG WITH PLANT & MACHINERY IN ONE GO
     

  • Details of land, plant and machinery can be had/ inspected from Senior Manager, Uco Bank, sector 22-d, Chandigarh, Phone: 0172-2701761, 2773083

Offers are invited in sealed cover by the undersigned from the intending buyers for purchase of the above properties. The sealed cover should be super scribed with "Offer for purchase of property with description and branch name". The interested buyers may send their offers (with name, full address, telephone Nos.etc and two passport size photographs duly signed on the back) for the above properties in sealed cover along with demand draft in favour of UCO BANK payable at branch to which account relates towards earnest money as mentioned above to Authorised Officer, UCO Bank, Zonal Office, Sector 17-B, Chandigarh before 20.10.2007. The intending buyers(s) may inspect the property/assets for which they may contact the concerned Branch Manager. All the tenders will be opened at 11.00 a.m. on Monday, 22.10.2007 in the office of the Zonal Manager, Zonal Office, UCO Bank, Sector 17-B, Chandigarh.

The offer without earnest money deposit with summarily be rejected. The undersigned reserve the right to accept or reject or all the offers or can adjourn/postpone the sale without assigning any reason thereof. In case all the offers are rejected Authorised Officer can negotiate with any of the offering parties/other parties for sale/property by private treaty. If the offer is accepted the purchaser has to deposit immediately 25% of the sale price adjusting the earnest money paid already and if he fails to deposit the same, the amount deposited towards the earnest money shall be forfeited and the property shall forth with be sold again. The balance amount of purchase price shall be paid on or before the 15th day of confirmation of sale or such extended period as may be agreed in writing and in default of payment within the period the deposit and earnest money shall be forfeited and the property shall be resold.

All dues such as taxes/stamp duty/registration fee/other expenses etc. shall have to be borne by the selected buyer separately.

This is also a notice to the borrower/guarantor of the above said loan accounts about effecting of the sale on above mentioned date if their outstanding dues are not repaid in full.

Place: Chandigarh
Date: 19.09.2007

AUTHORISED OFFICER
UCO BANK,
ZONAL,OFFICE,CHANDIGARH

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