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The Punjab & Maharashtra Co-operative Bank Ltd., Central Office : Office No. 4 & 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (W), Mumbai - 400 078.

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The Punjab & Maharashtra Co-operative Bank Ltd., Central Office : Office No. 4 & 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (W), Mumbai - 400 078.
TENDER SALE
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Auction ID: #0000196
Borrower Name: M/s. Ayusiya Business Solutions Pvt. Ltd. (Directors : Mr. Sanjay C. Adhav & Mr. Ashok S. Karande)
Institution: The Punjab & Maharashtra Co-operative Bank Ltd., Central Office : Office No. 4 & 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (W), Mumbai - 400 078.
Property type: Residential/Commercial
Location Details: Unit Nos. 201-A, 202-AB, 203-AB, Second Floor, Building No. 4, Kukreja Complex, Off. Jain Temple, L.B.S. Marg, Bhandup (W), Mumbai - 400 078.
Brief Details: Sealed Offers / Tenders are invited from the public / intending offerers for auction/sale of residential / commercial premises of the following borrowers on ‘As is where is and what is basis’ which is under the possession of the Authorised Officer of the Punjab & Maharashtra Co-operative Bank Ltd.

Name & address of the Secured Creditor : The Punjab & Maharashtra Co-operative Bank Ltd., Central Office : Office No. 4 & 5, 3rd Floor, Dreams Mall, L.B.S. Marg, Bhandup (W), Mumbai – 400 078.

(i)Name of the Borrower M/s. Ayusiya Business Solutions Pvt. Ltd. (Directors : Mr. Sanjay C. Adhav & Mr. Ashok S. Karande)
(ii)Amount of Secured Debt as per Demand Notice (Amt. in Rs.) 1,40,37,355.35
(including interest upto 24/04/2008) and further interest thereon Unit Nos. (iii)Description of Property 201-A, 202-AB,
203-AB, Second Floor, Building No. 4, Kukreja Complex, Off. Jain Temple, L.B.S. Marg, Bhandup (W), Mumbai – 400 078. 1,089 sq. ft. (Built-up)
(iv)Reserve Price
(Amt. In Rs.)1,03,46,000.00
(v) Earnest Money
(Amt. in Rs.)10,35,000.00

Earnest money (refundable to unsuccessful offerers) is to be paid with application by DD / PO in favour of The Punjab & Maharashtra Co-operative Bank Ltd.
Interested parties may submit their tender in a specified format which will be available with the Bank.

Tender forms should accompany two separate DD/PO payable to Punjab Maharashtra Co-op. Bank Ltd. :
1. Rs 1,000/- as Tender Cost which will not be refunded.
2. 10% of the reserve price as earnest money.
Matching offers of the asset holder/borrower if received will have preference. The offerers will be given a chance to increase offered amount at that time. In case all offers are rejected, the Bank reserves the right either to hold negotiation or put for auction with any of the tenderers or to sale property through private negotiations with any of the tenderers or other party/parties. Successful Offerers should deposit 25% of the bid amount immediately and balance within 15 days from the acceptance of offer

Prospective offerers should ascertain any encumbrances of other banks/financial institutions, govt. dues, water and electricity charges, local taxes, etc. on the property.

Legal charges for Conveyance, Stamp Duty, Registration charges with Registrar of assurances as applicable shall be borne by purchaser and he should complete the transfer formalities.

The descriptions of property furnished are totally based on available records with the Bank. Authorised Officer or the Bank is not responsible for any other lacunae. If the successful offerers fail to pay the balance 75% of the bid amount within 15 days from the date of opening the offer, the deposited amount shall be forfeited.

Sd/-
Date : 31/10/2011 Mrs. Praveen Kaur Chopra
Place : Mumbai AUTHORISED OFFICER
Reserve Price: Rs.1,03,46,000.00
Tender Date and Location: 01/12/2011 at .

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