Stressed Asset Management Branch – Mumbai, Bharat House,Ground Floor,MS Marg,Mumbai-400 023.

E-mail: samvmumbai@unionbankofindia.bank
Date: 24-11-2023
Sub: Notice of 15 days for sale of immovable secured assets under Rule 8 of the Security
Interest (Enforcement) Rules, 2002.

TERMS AND CONDITIONS OF SALE OF IMMOVABLE SECURED ASSETS:

1. Name and 1.M/s. NANDAN BUILDCON PRIVATE LIMITED

Registered Address :
address of the
Plot No.52 Shivaji Housing Society Senapati Bapat Road,Pune-411001Maharashtra
Borrower, Co-
Applicant and Through its-
Guarantor 1.Jyothi Shamkant kotkar (Director)
Flat No 1 Swagat Devshanti Lane no 13 Prabhat Road Erandawane, Pune-411001, Maharashtra
2.Shamkant Keshav Kotkar (Director)
Flat No 1 Swagat Devshanti Lane no 13 Prabhat Road Erandawane, Pune-411001, Maharashtra

Guarantors
1. Jyothi Shamkant kotkar 2. Shamkant Keshav Kotkar
Flat No 1 Swagat Devshanti Lane no 13 Prabhat Flat No 1 Swagat Devshanti Lane no 13
Road Erandawane, Pune-411001, Maharashtra Prabhat Road Erandawane, Pune-411001,
Maharashtra

2. Name and Stressed Asset Management Branch, Mumbai

address of the Stressed Asset Management Branch – Mumbai, Bharat House,
Secured Ground Floor, MS Marg, Mumbai-400 023.( e- Andhra Bank merged with Union Bank of India)
Creditor:

3. Description of immovable secured assets to be sold:

Commercial Land and building : All That piece and parcel of land and commercial building bearing Survey no 101/1
to 4/A/1/+101/1 to 4/A/2+101/1 to 4/A/3/2 out of CTS no 127P, Village: Erandwane, Tal.Haveli, Dist.Pune within
the limits of Pune Municipal Corporation held in the name of M/s Nandan buildcon Private Limited, Plot Area is
4,939.51 Sq. Mtrs and Building Area 13,872 Sq. Mtrs. and bounded by

East: Murtha River along with 100feet Road

West: Property of Mr. Bahirat
North: Gulmohar Coop Hsg Society, Survey No 101, Hissa no 1 to 4/A/3/1
South: Uday Co.Op.Society.

4.The details Not known

of
encumbrances,
if any known to
the Secured
Creditor

5. Last date for On or before the e-Auction.

submission of
EMD

6. Date & 15-12-2023 from 12:00 pm to 5:00 pm (with 10 minutes of unlimited auto extensions).
Time of E-auction website - www.mstcecommerce.com
auction

7.The secured Rs.91,60,29,295/- (Rupees Ninety-one Crores Sixty Lacs Twenty Nine Thousand Two Hundred
Ninety Five Only) as on 30.07.2018 as per Demand notices as on 03.07.2018 further interest
debt for the
thereon, cost & expenses}
recovery of
which the
immovable
secured asset
is to be sold:

8.1 Reserve S. Particulars of property Reserve

price for the No. Price
properties
1. Commercial Land and building : All That piece and parcel of land and Rs.84.00
below which
commercial building bearing Survey no 101/1 to 4/A/1/+101/1 to Crore
the immovable
4/A/2+101/1 to 4/A/3/2 out of CTS no 127P, Village: Erandwane,
property may Tal.Haveli, Dist.Pune within the limits of pune Municipal Corporation held
not be sold: in the name of M/s Nandan buildcon Private Limited, Plot Area is
4,939.51 Sq. Mtrs and Building Area 13,872 Sq. Mtrs. and bounded by

East: Murtha River along with 100feet Road

West: Property of Mr. Bahirat
North: Gulmohar Coop Hsg Society, Survey No 101, Hissa no 1 to
4/A/3/1
South: Uday Co.Op.Society.

8.2 EMD S. Particulars of property EMD Price

Payable No.

1. Commercial Land and building : All That piece and parcel of land and Rs.8.40
commercial building bearing Survey no 101/1 to 4/A/1/+101/1 to Crore
4/A/2+101/1 to 4/A/3/2 out of CTS no 127P, Village: Erandwane,
Tal.Haveli, Dist.Pune within the limits of pune Municipal Corporation held
in the name of M/s Nandan buildcon Private Limited, Plot Area is 4,939.51
Sq. Mtrs and Building Area 13,872 Sq. Mtrs. and bounded by

East: Murtha River along with 100feet Road

West: Property of Mr. Bahirat
 North: Gulmohar Coop Hsg Society, Survey No 101, Hissa no 1 to
4/A/3/1
South: Uday Co.Op.Society.

9. 1. Registration

The Online E-Auction will be held through web portal/website www.mstcecommerce.comon the date and time
mentioned above with 10 minutes of unlimited auto extension.
The intending bidders/ purchasers are required to register through
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp by using their mobile number and valid email-id.
They are further required to upload KYC documents and Bank Details.

9. 2. KYC Verification

On completion of registration, the intending bidders / purchasers are required to upload KYC documents and Bank
account details. KYC documents shall be verified by e-auction service provider which may take 2 to 3 working days.
Hence the registration and uploading formalities are to be completed well in advance.

9. 3. EMD Payment

On completion of KYC verification, the intending bidders / purchasers are required to pay EMD through NEFT/ RTGS/
NET BANKING/ UPI by generating a Challan through this website in his/ their Global EMD Wallet. Payment should be
made within 3 days after generating the Challan for NEFT/ RTGS otherwise the challan shall become invalid. The
payment shall be ensured well in advance before the stipulated time. If the required EMD amount is not held in
their Global Wallet, they will not be allowed to participate. Payment of EMD in any other mode will not be accepted.

The Earnest Money Deposit shall not bear any interest and in case of unsuccessful bid, the same will be returned to
the unsuccessful bidder by the service provider without interest.

9.4 Bidding

The bidder has to select the property for which offer is submitted from the list mentioned in the above website
and/ or bidder can directly enter Property ID (as mentioned in https://ibapi.in). The property will be visible in
‘Live Auctions’ on www.mstcecommerce.com one day prior to the date of auction.

9.5. Help Desk

 For Registration related queries e-mail to ibapiop@mstcecommerce.com

 For EMD payment/refund related queries e-mail to ibapifin@mstcecommerce.com.
 For Registration and Login and Bidding Rules visit
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp and Click “Buyer Guide for Login and
Registration”
 Intending bidders may download free of cost, copies of sale notice, Terms and Conditions of e-auction Help
Manual on operational part of e-auction from e-Bkray – IBAPI portal (https://www.ibapi.in)
For auction related queries e-mail to sarfaesi@unionbankofindia.com or contact Stressed Asset Management
Branch Mumbai, Bharat House, Ground Floor, MS Marg,Mumbai-400 023.Phone: 022-22615201.
Authorise Officer: Mr. Sidhartha Mhade
Mobile Number: 91+8980518779

9.6 Steps Involved

 Register on e-auction portal www.mstcecommerce.com. using mobile number and email ID.
 Upload requisite KYC Documents.
 Generate challan and transfer EMD amount to bidder’s global EMD Wallet.
 Submission of bid shall be through Online mode on the auction date and time.
 In case of successful Bid, the balance bid amount to be paid as per the terms as mentioned hereunder.
 In case of unsuccessful Bid, request for refund to be made in the MSTC website and refund will be made
directly by the MSTC.
Bidders are advised to go through the website https://www.ibapi.in. and www.unionbankofindia.co.in tenders for
detailed terms and conditions of Auction Sale before submitting their bids and taking part in the E-Auction sale
proceedings.
Successful bidder will be intimated through e-mail after the closing of the e-Bidding Process.

10. The intending bidders may, if they choose, after taking prior appointment from the Authorized Officer, inspect
the immovable/movable secured assets to be sold before the date of E-Auction.
It shall be the sole responsibility of the bidders to inspect and satisfy themselves about the secured assets and
specification before submitting the bid. On participation by any person or corporate it shall be deemed that the
bidders have fully satisfied themselves as to the property /assets and claims/ dues affecting the property under
Sale in all respects.
11. In case of bidding the bid increment shall not be less than Rs. 10,00,000/-(Ten Lakh rupees only) in excess of
the highest bid amount or the immediate preceding bid, as the case may be, with multiple increment value of Rs.
10,00,000/-(Ten Lakh rupees only)
12. The sale will be confirmed in favour of the highest bidder and the confirmation of sale shall be subject to the
confirmation by the Secured Creditor.
13. Bids once made shall not be cancelled or withdrawn. The failure on the part of bidder to comply with any of
the terms and conditions of e-auction, mentioned herein will result in forfeiture of the amount paid by the bidder.
14. The successful bidder so declared by the Authorized Officer shall deposit 25% of the Sale Price (inclusive of
EMD) in Cash/ DD /RTGS /NEFT /Internet transfer/ Cheque subject to realization, immediately on the sale day or
not later than next working day with the Authorized Officer in the account bearing Number 087021980050000
Name of account Inward RTGS Account of the Authorized Officer, Union Bank of India (SAMB Branch) Branch , IFSC
Code UBIN0908703 and the balance 75% of the Sale Price on or before 15th day of confirmation of Sale or within
such extended period as agreed upon in writing between the Secured Creditor and the purchaser, in any case not
exceeding 3 months.
In the event of failure to tender 25% (15%+EMD) of the sale price as per the terms of Sale by the successful bidder,
the EMD so deposited by him shall be forfeited by the Secured Creditor and the bid accepted shall stand cancelled
automatically and the defaulting bidder shall neither have claim on the property nor on any part of the sum for
which it may be subsequently sold.
In default of payment of balance amount of purchase price before 15 days from the date of confirmation of sale by
the Secured Creditor or such extended period as may be mutually agreed upon between the Secured Creditor and
the purchaser (not exceeding 3 months) the deposit of 25% of the amount of sale price made shall be forfeited and
the property shall forthwith be sold again and the defaulting purchaser shall neither have claim on the property
nor on any part of the sum for which it may be subsequently sold.
15. The Authorized Officer, may, where the property sold is subject to any encumbrances, if he thinks fit, allow
the purchaser to deposit with him the money required to discharge the encumbrances and any interest due thereon
together with such additional amount that may be sufficient to meet the contingencies or further costs, expenses
and interest as may be determined by him.
On such deposit of money for discharge of encumbrances, the Authorized Officer may issue or cause the purchaser
to issue the notices to the persons interested in or entitled to the money deposited with him and take steps to make
the payment accordingly.
16. On confirmation of sale by the Secured Creditor and if the terms of payment have been complied with by the
successful bidder, the Authorized Officer shall issue a certificate of sale of immovable property in favour of the
purchaser in Appendix-V to the Security Interest (Enforcement) Rules, 2002.
17. Legal charges for conveyance, stamp duty, registration charges and other incidental charges as applicable shall
be borne by the successful bidder only.
18.As per Section 194-IA of the Income Tax Act 1961, TDS @ 1% will be applicable on the sale proceeds where the
sale consideration is Rs.50,00,000/- (Rupees fifty lakhs) and above. The successful bidder/purchaser shall deduct
the TDS from the sale price and deposit the same with the Income Tax Department in Form No. 16-B, containing
the Bank’s name and the PAN number as a seller and submit the original receipt of the TDS Certificate to the Bank.
(Applicable for immovable property, other than Agricultural land).
19. The Authorized Officer will deliver the property on the basis of Symbolic possession taken on as is where is basis
to the purchaser free from encumbrances, known to the Secured Creditor on deposit of money by the purchaser
towards the discharge of such encumbrances.
20. The Certificate of Sale shall be issued specifically mentioning whether the purchaser has purchased the
immovable/ movable secured assets free from any encumbrances known to the Secured Creditor or not. No request
for change of name in the sale certificate other than the person who submitted the bid/participated in the auction
shall be entertained.
21. The unsuccessful Bidders who have deposited EMD shall be entitled to have the same refunded without any
interest immediately after the confirmation of sale by the Authorized Officer in favour of successful bidder. The
unsuccessful bidder is required to place request for refund with
https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp.
The EMD of unsuccessful bidders will be refunded on request to their respective A/c No. as registered in e-Auction
Portal www.mstcecommerce.com. The bidders will not be entitled to claim any interest, costs, expenses and any
other charges (if any).
22. If the Borrower were to pay to the Authorized Officer the entire amount due, with the up-to-date expenses
including the expenses/ charges/ cost in taking possession and conducting the sale, to the Secured Creditor before
e-Auction, the sale by E auction may be cancelled by the Authorized Officer.
23. Union Bank of India (the Bank), the Secured Creditor, reserves the right to accept / reject the highest bid
without assigning any reason thereof or to cancel the sale.
24. In case any dispute arises as to the validity of the bid(s), amount of bid, EMD or as to the eligibility of the
bidder, authority of the person representing the bidder, the interpretation and decision of the Bank shall be final.
In such eventuality, the Bank shall in its sole discretion be entitled to call off the sale and put the property to sale
once again on any date and at such time as may be decided by the Bank.
25. The bank/service provider for e-auction shall not have any liability towards bidders for any interruption or delay
or technical snag in access to the site irrespective of the causes.
26. The above movable/immovable secured assets will be sold in “As is where is”, “As is What is” and “whatever
there is” condition.
27. The entire sale consideration shall be exclusively available for appropriation towards dues to the Bank and it is
exclusive of encumbrances of all statutory dues and other dues if any, shall be settled by the proposed purchaser
out of his own sources.
28. To the best of information and knowledge of the Authorized Officer, there is no encumbrance on the property.
However, the intending bidders should make their own independent enquiry regarding the encumbrances, title of
the property put to auction and the claims / rights/ dues affecting the property, prior to submitting their bid. The
E Auction advertisement does not constitute and will not be deemed to constitute any commitment or any
representation of the Bank to sell the property. The Authorized Officer/ Secured Creditor shall not be responsible
in any way for any third-party claims/rights/dues.

Place: Mumbai
Date: 24-11-2023
(Sidhartha Mhade)
AUTHORISED OFFICER
FOR UNION BANK OF INDIA

Photographs of the Property at next page -

Photographs of the Property -