available - for warehousing idbi bank ltd, …...with s jaishankar. the former for-eign secretary is...

‘No provision to claimMEIS 2 years after theprescribed last date’

We were unable to claim MEISbenefit within three years of theshipping bill date. Is it time-barred? Is there any remedy?As per Para 3.15 of HBP, applica-tion for obtaining Duty CreditScrip under MEIS shall be filedwithin a period of 12 months fromthe Let Export (LEO) date, orthree months from the date ofuploading of EDI shipping billsonto the DGFT server byCustoms, or printing/release ofshipping bills for Non EDI ship-ping bills, whichever is later, inrespect of shipments for whichthe claim is being filed. Para 9.12gives a further period of two yearsfrom the prescribed date for filingthe claim and sanction with a latecut in the entitlement. There isno provision to claim MEIS afterthe period of two years after theprescribed last date.

We exported our goods onpayment of IGST and claimedrefund of the same under Rule96(10) of the CGST Rules, 2017.After receiving the refund, werealised that by mistake we hadpaid less IGST and taken refund.By oversight, we paid IGST onFOB value instead of the invoicevalue, which was higher at CIFvalue. The IGST paid an FOBvalue was declared on shippingbill and was refunded. Later, ondiscovering the mistake, wepaid the difference betweenIGST paid on FOB value and the

IGST payable on invoice value.Please advise how to obtainrefund of the difference of IGSTpaid, quoting any instructions.I suggest you take your chanceson the basis of CBIC Circular no.40/2018-Customs dated October24, 2018. That facility is officerinterface-based and is similar tothe procedure for processing cer-tain SB005 refund claims referredto in Circular No. 05/2018-Customs, dated February 23,2018. This facility is available onlyfor cases where shipping billshave been filed till November 15,2018. To claim the differentialamount, the exporter is requiredto submit a duly filled and signedRevised Refund Request (RRR)annexed to that circular to thedesignated Assistant/DeputyCommissioner of Customs.

We are manufacturers andexporters of alloy steel wire nails.We obtain advance authorisationfor import of our five inputs. Wehave made substantial exports.We have partially or fullyimported four inputs duty-free.For one of the inputs, we areunable to get suitable suppliersfrom abroad and our localsupplier is unwilling to supplyagainst invalidation letter. Now,can we claim set-off of GST paidagainst local purchase of thislocally-purchased input and atthe same time opt for adjustmentof inputs imported against theadvance authorisationcertificates in the same shippingbill, without claiming drawbackagainst such shipping bill?You can take credit of the GSTpaid on the locally procuredinputs. If you have imported fourinputs under advance authorisa-tion without IGST payment andexported the finished goodswithout IGST payment againstLUT, you can claim refund of the unutilised credit in accor-dance with Rule 89 of the CGSTRules, 2017.

CHATROOMT N C RAJAGOPALAN

Business Standard invites readers’ SME queries related to excise, VAT and exim policy. You can write to us at [email protected]

ARNAB DUTTANew Delhi, 3 June

Following outrage over aproposal that intendedto make Hindi manda-

tory in schools in non-Hindispeaking states, the ministryof Human ResourceDevelopment (HRD) onMonday revised the draftNational Education Policy(NEP), 2019. Deviating fromthe original suggestion ofkeeping Hindi as a mandatorysubject in all schools, the draftpolicy now calls for studentsto choose their subjects inClass VI or VII.

While the original draftNEP had suggested that stu-dents in non-Hindi speakingstates would have to study“the regional language, Hindiand English”, in the reviseddraft, no mention of Hindi orEnglish language can befound. “In keeping with theprinciple of flexibility, stu-

dents who wish to change oneor more of the three languagesthey are studying may do soin Grade 6 or 7,” the reviseddraft read.

The ministry stated thatthe policy document submit-ted by a panel,headed by formerchief of Isro KKasturirangan, isa draft policy. It“is placed forviews of the gen-eral public. It isnot the policyannounced by thegovernment.After getting feed-back from thegeneral public, and after con-sulting state governments, theNEP will be finalised,” theministry stated.

It also said that at least tworounds of revisions would beeffected before the documentis adopted as a policy.According to rule, the draft

policy would have to beplaced for public commentsfor a duration of 30 days ormore before the governmentbegin considerations forrequired changes.

Despite clarifications bythe new HRDMinister RameshPokhriyal and hispredecessorPrakashJavadekar, in pastfew days, that thegovernment is notintended toimpose Hindi,political parties insouth India, likethe DMK, and also

Congress leaders from theregion had vented their angerat the suggestion. DMK chiefM K Stalin welcomed thechanges made on Monday.

Among other suggestions,the draft NEP highlighted theneed for a complete overhaulof school education system

and setting up of a NationalEducation Commission, orRashtriya Shiksha Aayog, as anapex body for education toensure “cohesion and synergybetween the multiple dimen-sions of education”. It suggest-ed restructuring of school edu-cation and pedagogy under a15-year tenure, from 12 yearsnow. The 15-year designincludes five years of the foun-dational stage (up to Class II),three years of the preparatory(Classes III-V), three years ofthe middle (Classes VI-VII) andfour years of the high stage(Classes IX-XII).

Further, a complete over-haul of board examinations,removing distinctions bet-ween different “streams” ofstudy and teacher trainingprogrammes have been sug-gested. It proposes an exten-sion of the Right to Educationto students between three and18 years, from six and 14 years,currently.

Doval stays NSA, now with Cabinet rankARCHIS MOHANNew Delhi, 3 June

Ajit Kumar Doval will be India’sNational Security Advisor (NSA) foranother five-year term — only thistime he will get the rank of aCabinet minister.

In his first term as the NSA,Doval had the rank of a minister ofstate, although his influence on theNarendra Modi government’sinternal security decision makingand foreign relations, particularlywith its immediate neighbour-hood, far exceeded that of therespective Cabinet ministers whoheld the portfolios of home andexternal affairs.

The Modi government onMonday said the AppointmentsCommittee of the Cabinet, in anorder dated June 2, has approvedof Doval’s appointment for a five-year period with effect from May 31and it will be co-terminus with the

term of the prime minister (PM).That 74-year-old Doval is ele-

vated to Cabinet rank is recogni-tion of his key role in shaping theModi government’s internal secu-rity and neighbourhood policyarchitecture in the last five years.It also brings him on a par in thegovernment’s order of precedencewith S Jaishankar. The former for-

eign secretary is the externalaffairs minister in the Modi gov-ernment 2.0, but had reported toDoval in the previous governmenton issues related to India’s tieswith its neighbours, particularlywith Pakistan and Nepal.

The government on Mondayalso announced the itinerary ofModi’s the foreign visit of his sec-ond term. Modi will visit theMaldives on June 8 and 9. After theMaldives, the PM will visit SriLanka on June 9. “The visits to theMaldives and Sri Lanka willdemonstrate the priority Indiaattaches to its ‘Neighbourhood-First Policy’ and the SAGAR doc-trine,” the MEA said. The SAGARdoctrine defines the contours ofNew Delhi’s Indian Ocean doctrine.The PM first enunciated it in 2015.The 'SAGAR' doctrine stands for‘Security And Growth for All in theRegion’.

The PM will attend the Shanghai

Cooperation Organisation summitin Bishkek, Kyrgyzstan, on June 13-14. Pakistan PM Imran Khan andChinese President Xi Jinping,among others, will also attend thesummit. The MEA is yet to confirmif Modi and Khan would meet forbilateral talks on the sidelines ofthe summit.

Doval is a 1968-batch IndianPolice Service officer who retired asIntelligence Bureau chief in 2005.He becomes the first NSA ever, afterthe Atal Bihari Vajpayee govern-ment created the office in 1998,appointed for two consecutiveterms. Doval was elevated to theminister of state rank in September2014 after the Chinese side insistedon ministerial-level talks.

In his first tenure, Doval iscredited with leading India’sresponse in the wake of the Uri ter-ror attack in September 2016, par-ticularly the subsequent ‘surgicalstrike’, and the Balakot air strike.

After a virtual rout in theLok Sabha polls at thehands of the BJP in UttarPradesh, BSP PresidentMayawati on Mondayhinted at ending herparty’s grand alliance withthe SP and the RLD.

Mayawati, at themeeting in New Delhi withsenior party leaders, saidthe alliance had failed todeliver for the BSP, sincetheir respective vote banksweren’t transferred.

In view of her comments,the BSP is likely to contestby-polls in 11 Assembly seatsof UP independently. Theseseats would fall vacant onceMLAs of different parties,who are now elected toParliament, resign from theirrespective seats.

VIRENDRA SINGH RAWAT

DMK chief M K Stalin and party leaders pay tributeto M Karunanidhi on his 95th birth anniversary, inChennai on Monday. Stalin welcomed the Centre’smove to revise the draft education policy PHOTO: PTI

Ajit Doval in his first term as NSAheld the rank of an MoS

DRAFT EDUCATION POLICY

Centre blinks on compulsory Hindi

The original draftNEP had suggestedthat students innon-Hindi speakingstates would have tostudy “the regionallanguage, Hindi andEnglish”. In therevised draft, thereis no mention ofHindi or English

BENGALURU | TUESDAY, 4 JUNE 2019 ECONOMY & PUBLIC AFFAIRS 5. <

Mayawati hintsat leaving pollalliance with SP

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TENDER CARE Commercial Feature

P. Radhakrishna assumes charge as BDL Director P. Radhakrishna has assumed charge as Director (Production) of Bharat Dynamics Limited. Prior to his newappointment, Radhakrishna served as a General Manager in the Bhanur Unit of BDL where he played a key role inestablishing the production line for Konkurs, Konkurs - M and Invar Anti-Tank Guided Missiles, Launcher & Riflesensuring safe operations with an objective of reaching set targets. He played a key role in modernizing andestablishing state-of-the-art manufacturing facilities to improve the productivity.

Repco Bank Post Profit of Rs.107 cr. for FY 2018-19Repco Bank has published the financials for the Financial Year 2018-19. The Business Mix of the Bank Crossed milestonemark of Rs.15200 crore as of March 31, 2019. Total Deposits stood at Rs.8727 crore with a y-o-y growth rate of 11.34% andtotal Advances at Rs.6503 crore recording a y-o-y growth rate of 13.84%, as of March 31, 2019. The Operating Profit of theBank during the FY 2018-19 is Rs.208 crore and Profit After Tax is Rs.107 crore. Bank's Net worth is around Rs.750 croreas of March 31, 2019 with a CRAR at 12.11%. The Gross Non-Performing Asset (GNPA) of the Bank has reduced from6.58% to 6.33% and Net Non-Performing Asset (NNPA) from 1.79% to 1.56% as on March 31, 2019 with strong recoveryefforts. The Bank's 'Return on Asset (ROA)' is 1.13% and all other key parameters are above the industry benchmark. Duringthe FY 2018-19, Bank implemented several schemes for repatriates rehabilitation, spending Rs.6.18 crore benefitting 42266repatriates. The Bank is focussed on steady growth, aiming at business of Rs.17500 crore for FY 2019-20 with repatriaterehabilitation as prime objective, said R.S. Isabella, Managing Director.

C. Murthy Joins BHEL, Ranipet as Executive DirectorC. Murthy has joined BHEL Ranipet as Executive Director and Head of Unit. Before joining as the Head of Unit at BHELRanipet, he was heading Corporate Operations Management as Executive Director at BHEL Corporate Office in NewDelhi. At Corporate Office, he was also having additional charge of Corporate Quality and Business ExcellenceDepartment. A graduate in Mechanical Engineering from the College of Engineering, Guindy and a post graduate fromIIT, Chennai, Murthy joined BHEL, Trichy as Engineer Trainee in 1984. During his career at BHEL Trichy, he handleddiverse portfolios like Commercial (Fossil Boilers), Planning & Development, Central Planning, Logistics, BoilerProduction, etc. He was transferred to Corporate Office, New Delhi in August 2016 as General Manager where hehandled Corporate Operation Management during the critical period when BHEL was negotiating an important growthcurve. He was elevated as Executive Director in April 2018. He also had a short stint as head of Central Stamping Unitand Fabrication plant at Jagdishpur, Uttar Pradesh.

Alok Kumar Mehta is new Director (Commercial) of NMDCAlok Kumar Mehta has assumed charge as Director (Commercial) of NMDC Limited. Alok Kumar Mehta, a Graduatein Mechanical Engineering from NIT Raipur, with more than 35 years of experience in Iron ore mining, Iron & SteelIndustry and Copper Industry in India and abroad. He started his career with Hindustan Copper Limited in July 1983and later joined in Saurastra Chemical, Porbander in 1993. He also worked for Aditya Birla group at Birla Copper Dahejand in 2003 he was given the responsibility of Mount Garden Plant situated in Queensland, Australia. He has distinc-tion of handling construction of Plant at Mount Garden, Australia. In the year 2006 he joined NMDC and given theresponsibilities of bringing up 3.0 MTPA Steel Plant at Nagarnar. He successfully conceived the Rs.15,525 Crore SteelPlant at Nagarnar with the cooperation of all stake holders. He has distinction of having exposure at both Private andGovernment Sector including overseas experience. Prior to joining as Director (Commercial), he was responsible forthe execution of all the Engineering, Contracts and Projects activities of NMDC from HO as Executive Director. He isalso in the Board of Three Subsidiary Companies and One Joint Venture Company of NMDC Limited.

SCCL aims to achieve Rs. 50 thousand crores turn over"SCCL aims planning to achieve 50 thousands crores turnover from the present Rs. 26,000 croresin near future"-said N.Sridhar, C&MD. He participated as Chief Guest in a Telangana DayFormation Celebrations in Singareni Bhavan, Hyderabad. After hoisting the national flag, headdressed the employees wherein he asked the workforce re-dedicate themselves to make ourState a 'Bangaru Telangana' by achieving the targets in Coal production, dispatch and removal ofover burden. "With the co-operation of the Chief Minister of the state, SCCL could achieve highestever targets in its history during last five years. SCCL has shown a growth of 116.5 in sales and ingrowth of 282 in profits. Now, it is the time to gear up to achieve a turnover of 50,000 crores soon.SCCL is planning to open new mines in SCCL areas and also take up new blocks in other statestoo" - he said.

NLCIL Successfully lights up the Boiler of the 2nd unit of NNTPP : NLC India Limited, with its splendid history of performance in LigniteMining & Power Generation, has achieved yet another major milestone activity, by lighting up the Boiler of the Second Unit of the upcoming 2 x 500 MW lignite-firedNeyveli New Thermal Power Project (NNTPP) on 30.05.2019. It is to be highlighted that the Boiler of the First Unit of the same Project was lighted up on 28.12.2018and was synchronised with Grid on 28.03.2019.It is also to be noted that the 500 MW capacity lignite-fired Boilers are first of its kind in India. Issue of NLCIL Bond 2019 - Series I: Further to the approval accorded by the Board of Directors to issue Secured, Redeemable, Non-Cumulative,Non-Convertible & Taxable Bonds of Rs. 10 Lakh each aggregating to Rs. 2,000 Crore for a period of 10 years through private placement, in the first tranche, Bondsamounting to Rs.500 Crore was floated with a green shoe option to retain over subscription up-to Rs.1,500 Crore on BSE Electronic Bidding Platform. A total bidamount of Rs. 1,887 Crore was received with a coupon rate in the range of 7.93% p.a. to 8.50% p.a. and it was decided to accept subscription up-to Rs. 1,475 Croreat a coupon rate of 8.09% p.a.The coupon rate of 8.09% p.a. is a benchmark rate in the debt market, when in comparison to the coupon rate obtained during the last6 months and also when compared to the similar feature bonds floated during the last week.

AVAILABLE - FOR WAREHOUSINGFOR MNCs LIKE TATA/RELIANCE/AMAZON/FLIPKART ETC. WE HAVE ACOMPLETE FIRST CLASS SHED OF 4LAC SFT. IN ONE COMPOUND OF 20ACRES LAND OR CAN PROVIDE ASREQUIRED BY THE CLIENT WITH ALLFACILITIES LIKE POWER, WATERETC. AVAILABLE FOR RENT IN &AROUND BOMBAY ROAD ON RIVERBANK ABOUT 35 KM FROM KOLKATAGPO / GOVORNER HOUSE.INTERESTED PARTIES MAY CONTACT TO:

E.MAIL: [email protected]

PUBLIC NOTICE FOR SALE THROUGH E-AUCTION SALE OF MOVABLE/IMMOVABLE/STOCK OF SAKETH INDIA LIMITED

Under the terms of the Securitisation and Reconstruction of the Financial Assets and Enforcement of Security Act, 2002

The Authorized Officer (AO) of IDBI Bank Ltd. (IDBI) and on behalf of IFCI Ltd., International Asset Reconstruction Co. Pvt. Ltd. (IARC Pvt. Ltd.) and Indian Bank invites Bids/Offers from reputed and genuine parties for purchase of the following secured asset of M/s Saketh India Ltd. (borrower) under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002, possession whereof has been taken on August 10, 2016.

1. Brief Description of Properties Details Reserve Price EMDa) All those piece and parcel of land bearing Plot No.60, admeasuring 5.91 acres or thereabouts, in survey nos 11(Pt.), 12(pt.), 13(pt.), 14(pt.) and 15(pt.) in SIPCOT’s Industrial Complex at Hosur within the village limits of MookandapalliTaluk of Hosur, Sub-Registration District of Hosur in Dharmapuri Revenue District, in the state of Tamil Nadu together with all buildings and structures constructed/erected or to be constructed/erected thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth.b) Stock of finished, semi-finished granite tiles and raw materials (as per the inventory) lying stored and kept in the premises mentioned at ‘a’ above.

Lot ILand & Building

Rs.1155 lakh Rs.116 lakh

Lot IIPlant &

MachineryRs.86 lakh Rs.9 lakh

Lot III Stock Rs.35 lakh Rs.3 lakh

Total Assets – Lot I + Lot

II+ Lot III


2. Important datesSale of Bid / Tender document June 05, 2019 – June18 ,2019 from 11.00 a.m. to 5.00 p.m.Date of Inspection June 10, 2019 from 11.00 a.m. to 5.00 p.m.Last Date of submission of Bid along with EMD June18, 2019 upto 5.00 p.m.Date and Time of e –auction June 20, 2019 from 11.00 a.m. to 1.00 p. m.

(with unlimited extension of 5 mins)3. The details of the secured lenders and their outstanding dues as on September 30, 2016 is as under:

Name of Secured Lender Nature of assistance Amount (Rs.)IDBI Bank Ltd. Rupee and Foreign Currency Loans 20,84,93,60,090/-IFCI Ltd. Rupee Term Loans 2,94,07,81,151/-IARC Pvt. Ltd. Rupee and Foreign Currency Loans 6,63,15,03,749/-Indian Bank Rupee Term Loans 38,72,71,90,080/-*as on October 1, 2016, together with further interest thereon with effect from October 1, 2016 at the contractual rates until payment / realisation.General terms and conditions

4. The sale would be on E-Auction platform at website: https://idbi.auctiontiger.net. through e-auction service provider M/s e-Procurement Technologies Limited with unlimited extensions of 5 minutes each.

5. The interested bidders shall submit their Bid along with EMD & KYC documents (PAN card / Address proof). On receipt of the EMD, the bidders shall receive user id / password on their valid email id (mandatory for e-auction) from the e-auction service provider M/s e-Procurement Technologies Limited

6. The amount of EMD paid by the interested bidders shall carry no interest.7. The property proposed to be sold is on “as is where is basis”, “as is what is basis”, “whatever there is basis” and “no

recourse basis”. All statutory liabilities / taxes / maintenance fee / electricity / water charges etc., outstanding as on date and yet to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder. Bank does not take any responsibility to provide information on the same. However, to the knowledge of the secured creditors, an amount of Rs.84,480/- is due to Hosur Municipality and Rs.30,07,712 towards EPF, as per their noticedated February 25, 2017 with Tax ref no: 153/016/02041 (old tax ref no:153/3101322), Ward 16. & February08, 2019 from EPF regional office Salem It shall be the sole responsibility of the bidder to ascertain and bear/pay such dues.

8. For detailed procedure, terms and conditions of the auction process, intending bidders may arrange to obtain Bid / Tender Document from Shri Ashish Aggarwal, Deputy General Manager, Shri Saisanjeev, Manager, IDBI Bank Ltd, NPA Management Group, 7th floor, IDBI Tower, Cuffe Parade, Mumbai 400005 during June 04, 2019 to June18, 2019 on any working day between 11.00 a.m. and 5.00 p.m. on payment of non refundable fees of Rs.1000/- (Rupees One Thousand Only) by a crossed A/c Payee Demand Draft/ Pay order drawn in favour of “IDBI Bank Ltd- A/c Saketh India Ltd.” payable at Mumbai issued by any Nationalized Bank / Scheduled Bank.

9. The bid/tender document can also be downloaded from IDBI website www.idbi.com and https://idbi.auctiontiger.net Those bidders preferring to download the Bid/Tender Document shall have to furnish the non refundable fee of Rs.1000/- as at 8 above at the time of submission of the Bid/Tender document with EMD.

10. For detailed information on the procedure of e-auction please refer to the Bid / Tender Document and for formalities / registration to be completed before e-auction please refer to registration procedure at website https://idbi.auctiontiger.net

11. Interested parties may contact Shri Ashish Aggarwal on (T) +91 22 66552047, (M) + 91 9810821579 ([email protected]), Shri Saisanjeev (T) +91 22 66552524, (M) +91 7715874982 ([email protected]). For -auction support, you may contact Mr. Vijay Shetty, Mob. : 06352490773 : 9265562821 & Phone : 079 61200 594 / 598 / 559/ 587 / 554

Place : Mumbai sd/-Date : June 04, 2019 Authorised Officer

IDBI Bank Ltd, NPA Management Group - Mumbai Zone,IDBI Tower, 7th Floor, WTC Complex,

Cuffe Parade, Mumbai 400005

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PUBLIC NOTICE FOR SALE THROUGH E-AUCTION SALE OF MOVABLE/IMMOVABLE/STOCK OF SAKETH INDIA LIMITED

Under the terms of the Securitisation and Reconstruction of the Financial Assets and Enforcement of Security Act, 2002

The Authorized Officer (AO) of IDBI Bank Ltd. (IDBI) and on behalf of IFCI Ltd., International Asset Reconstruction Co. Pvt. Ltd. (IARC Pvt. Ltd.) and Indian Bank invites Bids/Offers from reputed and genuine parties for purchase of the following secured asset of M/s Saketh India Ltd. (borrower) under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002, possession whereof has been taken on August 10, 2016.

1. Brief Description of Properties Details Reserve Price EMDa) All those piece and parcel of land bearing Plot No.60, admeasuring 5.91 acres or thereabouts, in survey nos 11(Pt.), 12(pt.), 13(pt.), 14(pt.) and 15(pt.) in SIPCOT’s Industrial Complex at Hosur within the village limits of MookandapalliTaluk of Hosur, Sub-Registration District of Hosur in Dharmapuri Revenue District, in the state of Tamil Nadu together with all buildings and structures constructed/erected or to be constructed/erected thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth.b) Stock of finished, semi-finished granite tiles and raw materials (as per the inventory) lying stored and kept in the premises mentioned at ‘a’ above.

Lot ILand & Building


Lot IIPlant &

MachineryRs.86 lakh Rs.9 lakh


Total Assets – Lot I + Lot

II+ Lot III


2. Important datesSale of Bid / Tender document June 05, 2019 – June18 ,2019 from 11.00 a.m. to 5.00 p.m.Date of Inspection June 10, 2019 from 11.00 a.m. to 5.00 p.m.Last Date of submission of Bid along with EMD June18, 2019 upto 5.00 p.m.Date and Time of e –auction June 20, 2019 from 11.00 a.m. to 1.00 p. m.

(with unlimited extension of 5 mins)3. The details of the secured lenders and their outstanding dues as on September 30, 2016 is as under:

Name of Secured Lender Nature of assistance Amount (Rs.)IDBI Bank Ltd. Rupee and Foreign Currency Loans 20,84,93,60,090/-IFCI Ltd. Rupee Term Loans 2,94,07,81,151/-IARC Pvt. Ltd. Rupee and Foreign Currency Loans 6,63,15,03,749/-Indian Bank Rupee Term Loans 38,72,71,90,080/-*as on October 1, 2016, together with further interest thereon with effect from October 1, 2016 at the contractual rates until payment / realisation. General terms and conditions

4. The sale would be on E-Auction platform at website: https://idbi.auctiontiger.net. through e-auction service provider M/s e-Procurement Technologies Limited with unlimited extensions of 5 minutes each.

5. The interested bidders shall submit their Bid along with EMD & KYC documents (PAN card / Address proof). On receipt of the EMD, the bidders shall receive user id / password on their valid email id (mandatory for e-auction) from the e-auction service provider M/s e-Procurement Technologies Limited

6. The amount of EMD paid by the interested bidders shall carry no interest.7. The property proposed to be sold is on “as is where is basis”, “as is what is basis”, “whatever there is basis” and “no

recourse basis”. All statutory liabilities / taxes / maintenance fee / electricity / water charges etc., outstanding as on date and yet to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder. Bank does not take any responsibility to provide information on the same. However, to the knowledge of the secured creditors, an amount of Rs.84,480/- is due to Hosur Municipality and Rs.30,07,712 towards EPF, as per their noticedated February 25, 2017 with Tax ref no: 153/016/02041 (old tax ref no:153/3101322), Ward 16. & February08, 2019 from EPF regional office Salem It shall be the sole responsibility of the bidder to ascertain and bear/pay such dues.

8. For detailed procedure, terms and conditions of the auction process, intending bidders may arrange to obtain Bid / Tender Document from Shri Ashish Aggarwal, Deputy General Manager, Shri Saisanjeev, Manager, IDBI Bank Ltd, NPA Management Group, 7th floor, IDBI Tower, Cuffe Parade, Mumbai 400005 during June 04, 2019 to June18, 2019 on any working day between 11.00 a.m. and 5.00 p.m. on payment of non refundable fees of Rs.1000/- (Rupees One Thousand Only) by a crossed A/c Payee Demand Draft/ Pay order drawn in favour of “IDBI Bank Ltd- A/c Saketh India Ltd.” payable at Mumbai issued by any Nationalized Bank / Scheduled Bank.

9. The bid/tender document can also be downloaded from IDBI website www.idbi.com and https://idbi.auctiontiger.net Those bidders preferring to download the Bid/Tender Document shall have to furnish the non refundable fee of Rs.1000/- as at 8 above at the time of submission of the Bid/Tender document with EMD.

10. For detailed information on the procedure of e-auction please refer to the Bid / Tender Document and for formalities / registration to be completed before e-auction please refer to registration procedure at website https://idbi.auctiontiger.net

11. Interested parties may contact Shri Ashish Aggarwal on (T) +91 22 66552047, (M) + 91 9810821579 ([email protected]), Shri Saisanjeev (T) +91 22 66552524, (M) +91 7715874982 ([email protected]). For -auction support, you may contact Mr. Vijay Shetty, Mob. : 06352490773 : 9265562821 & Phone : 079 61200 594 / 598 / 559/ 587 / 554

Place : Mumbai sd/-Date : June 04, 2019 Authorised Officer

IDBI Bank Ltd, NPA Management Group - Mumbai Zone,IDBI Tower, 7th Floor, WTC Complex, Cuffe Parade, Mumbai 400005

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The Authorised Officer (AO)

of

IDBI BANK LIMITED

NPA Management Group – Mumbai Zone

IDBI Tower, 7th

Floor,

WTC Complex, Cuffe Parade

Mumbai 400 005

BID/TENDER DOCUMENT

For

Sale of Assets of

Saketh India Limited

(Hosur unit)

Under

The Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002

and

The Security Interest (Enforcement) Rules, 2002

Dated: 04.06.2019

2

CONTENTS

Sr.No Particulars Page

No.

I Public Notice for Sale published in the newspapers

3-4

II Brief Description – Immovables and Movables/stock

5

III Outstanding dues of Secured Lenders

6

IV Terms & Conditions

7-14

V Brief details of Tender/Bid/Offer document

15

VI Form of Profile of the Bidder - Individual

16-17

VII Form of Profile of the Bidder – Company / Firm /Proprietor/Party

18-19

VIII Form of Appendix to the Bid/Offer (Declaration by the Bidder)

20-22

3

. CIN NO:L65190MH2004G0I148838

IDBI Bank Ltd, NPA Management Group - Mumbai Zone,

IDBI Tower, 7th Floor, WTC Complex, Cuffe Parade, Mumbai 400005

PUBLIC NOTICE FOR SALE THROUGH E-AUCTION

SALE OF MOVABLE/IMMOVABLE/STOCK OF SAKETH INDIA LIMITED

Under the terms of the Securitisation and Reconstruction of the

Financial Assets and Enforcement of Security Act, 2002

The Authorized Officer (AO) of IDBI Bank Ltd. (IDBI) and on behalf of IFCI Ltd., International Asset Reconstruction Co.

Pvt. Ltd. (IARC Pvt. Ltd.) and Indian Bank invites Bids/Offers from reputed and genuine parties for purchase of the

following secured assetof M/s Saketh India Ltd. (borrower) under the provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002,

possession whereof has been taken on August 10, 2016.

1. Brief Description of Properties Details Reserve Price EMD

a) All those piece and parcel of land bearing Plot No.60, admeasuring

5.91 acres or thereabouts, in survey nos 11(Pt.), 12(pt.), 13(pt.), 14(pt.)

and 15(pt.) in SIPCOT's Industrial Complex at Hosur within the village

limits of MookandapalliTaluk of Hosur, Sub-Registration District of

Hosur in Dharmapuri Revenue District, in the state of Tamil Nadu

together with all buildings and structures constructed/erected or to be

constructed/erected thereon and all plant and machinery attached to the

earth or permanently fastened to anything attached to the earth.

b) Stock of finished, semi-finished granite tiles and raw materials (as per

the inventory) lying stored and kept in the premises mentioned at ‘a’

above.

Lot I Land &

Building


Lot II Plant &

Machinery



Total

Assets –

Lot I + Lot

II+ Lot III


2. Important dates

Sale of Bid / Tender document June 05, 2019 – June18 ,2019 from 11.00 a.m. to 5.00 p.m.

Date of Inspection June 10, 2019 from 11.00 a.m. to 5.00 p.m.

Last Date of submission of Bid along with EMD June18, 2019 upto 5.00 p.m.

Date and Time of e –auction June 20, 2019 from 11.00 a.m. to 1.00 p. m.

(with unlimited extension of 5 mins)

3. The details of the secured lenders and their outstanding dues as on September 30, 2016 is as under:

Name of Secured Lender Nature of assistance Amount (Rs.)*

IDBI Bank Ltd. Rupee and Foreign Currency Loans 20,84,93,60,090/-

IFCI Ltd. Rupee Term Loans 2,94,07,81,151/-

IARC Pvt. Ltd. Rupee and Foreign Currency Loans 6,63,15,03,749/-

Indian Bank Rupee Term Loans 38,72,71,90,080/-

*as on October 1, 2016, together with further interest thereon with effect from October 1, 2016 at the contractual rates until

payment / realisation.

General terms and conditions

4. The sale would be on E-Auction platform at website: https://idbi.auctiontiger.net. through e-auction service provider M/s

e-Procurement Technologies Limited with unlimited extensions of 5 minutes each.

5. The interested bidders shall submit their Bid along with EMD & KYC documents (PAN card / Address proof). On receipt

of the EMD, the bidders shall receive user id / password on their valid email id (mandatory for e-auction) from the e-

auction service provider M/s e-Procurement Technologies Limited

6. The amount of EMD paid by the interested bidders shall carry no interest.

7. The property proposed to be sold is on “as is where is basis”, “as is what is basis”, “whatever there is basis” and “no

recourse basis”. All statutory liabilities / taxes / maintenance fee / electricity / water charges etc., outstanding as on date

and yet to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder. Bank does not take

any responsibility to provide information on the same. However, to the knowledge of the secured creditors, an amount of

Rs.84,480/- is due to Hosur Municipality and Rs.30,07,712/- towards EPF, as per their notice dated February 25, 2017

with Tax ref no: 153/016/02041 (old tax ref no:153/3101322), Ward 16. & February08, 2019 from EPF regional office

Salem It shall be the sole responsibility of the bidder to ascertain and bear/pay such dues.

8. For detailed procedure, terms and conditions of the auction process, intending bidders may arrange to obtain Bid / Tender

Document from Shri Ashish Aggarwal, Deputy General Manager, Shri Saisanjeev, Manager, IDBI Bank Ltd, NPA

Management Group, 7th floor, IDBI Tower, Cuffe Parade, Mumbai 400005 during June 04, 2019 to June18, 2019 on any

working day between 11.00 a.m. and 5.00 p.m. on payment of non refundable fees of Rs.1000/- (Rupees One Thousand

https://idbi.auctiontiger.net/

4

Only) by a crossed A/c Payee Demand Draft/ Pay order drawn in favour of “IDBI Bank Ltd- A/c Saketh India Ltd.”

payable at Mumbai issued by any Nationalized Bank / Scheduled Bank.

9. The bid/tender document can also be downloaded from IDBI website www.idbi.com and https://idbi.auctiontiger.net

Those bidders preferring to download the Bid/Tender Document shall have to furnish the non refundable fee of Rs.1000/-

as at 8 above at the time of submission of the Bid/Tender document with EMD.

10. For detailed information on the procedure of e-auction please refer to the Bid / Tender Document and for formalities /

registration to be completed before e-auction please refer to registration procedure at website https://idbi.auctiontiger.net

11. Interested parties may contact Shri Ashish Aggarwal on (T) +91 22 66552047, (M) + 91 9810821579

([email protected]), Shri Saisanjeev (T) +91 22 66552524, (M) +91 7715874982 ([email protected]). For -

auction support, you may contact Mr. Vijay Shetty, Mob. : 06352490773 : 9265562821 & Phone : 079 61200 594 / 598 /

559/ 587 / 554

Place : Mumbai sd/-

Date : June 04, 2019 Authorised Officer

The above notice was published in the following newspapers on June 04, 2019.

i) Business Standard (English)- Chennai edition

ii) Business Standard (English)-Bangalore edition

iii) Dinakaran (English) - Dharmapuri edition



5

II. BRIEF DESCRIPTION OF SECURED ASSETS

Sl.

no Property Description

1 Land and Building

All those piece and parcel of land bearing Plot No.60, admeasuring 5.91 acres or thereabouts, in

survey no.s 11(Pt.), 12(pt.), 13(pt.), 14(pt.) and 15(pt.) in SIPCOT's Industrial Complex at Hosur

within the village limits of Mookandapalli Taluk of Hosur, Sub-Registration District of Hosur in

Dharmapuri Revenue District, in the state of Tamil Nadu and bounded as follows:

On or towards the North by : Feeder Road 12.25 M Wide

On or towards the South : Plot No.61

On or towards the East : Drain 10 M Wide

On or towards the West : Drain 10 M Wide

together with all buildings and structures constructed/erected or to be constructed/erected thereon

and all plant and machinery attached to the earth or permanently fastened to anything attached to the

earth.

2

Plant & Machinery Description

Sl. No Sr. No. BRIEF DESCRIPTION Sl. No Sr. No. BRIEF DESCRIPTION

1 Block Cutter Machine 13 Cutting Machine

Make: Pedrini spa Italy Make: Pedrini spa Italy

Year: 1991 With 6 nos. cross cutting stations and cutter.

Location : 01

14 Polishing Machine

2 Block Cutter Machine Make: Pedrini spa Italy

Make: Pedrini spa Italy With 8 nos cross stations and motors.

Year: 1991

Location : 02 15 Polishing Machine

Make: Pedrini spa Italy

3 Block Cutter Machine With 8 nos cross stations and motors.


Year: 1991 16 16. Polishing unit

Location : 01 Make: Pedrini spa Italy

With 4 nos. chamfi stations and motors.

4 Block Cutter Machine

Make: Pedrini spa Italy 17 Conveyor with motor unit head

Year: 1991

Location : 01 18 Air Compressor

Make: Mecco Engineering

5 Cutting machine with frame only Model: M.S. 300

6

(Rusted condition) Year: 1988

6 Hydraulic stacker 19 Air Compressor

Make: Elgi

7 Gantry Crane With Hoist Model: T.S 1500

(rusted) Capacity: 15 H.P.

Year: 1993

8 Gantry Crane With Hoist

(rusted) 20 Chamfi unit


9 Hydraulic crane With 4 nos. chamfi stations and motors.

Make: Tata QTY: 2 NOS

10 Cutting machine 21 Storage Tanks

With platform 6000.00 Material: M. S.

11 POLISHING MACHINE 22 Forklift

Type: Manual

Without motor 23 Forklift

Make: Godrej

12 POLISHING MACHINE

Type: Manual 24 Cutter blades

Without motor

25 Transformers

Qty.:2

3.

Granit tiles & Row materials

Stock of finished, semi-finished granite tiles and raw materials lying, stored and kept in the premises

mentioned at 1 above.

7

III. OUTSTANDING DUES OF THE SECURED LENDERS

(as on September 30, 2016)

Name of Secured Lender Nature of assistance Amount (Rs.)

IDBI Bank Ltd. Rupee and Foreign Currency Loans 20,84,93,60,090/-

IFCI Ltd. Rupee Term Loans 2,94,07,81,151/-

IARC Pvt. Ltd. (assignee

of Standard Chartered

Bank)

Rupee Loans and Foreign Currency

Loans

6,63,15,03,749/-

Indian Bank Rupee Term Loans 38,72,71,90,080/-

Total : 69,14,88,35,070/-

8

IV. TERMS AND CONDITIONS

1 The Authorised Officer (AO) exercising the powers under the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act, 2002 read with Security Interest

(Enforcement) Rules, 2002 (hereinafter referred to as "the SARFAESI Act") is selling the

assets/properties mentioned at item No. II of the Tender Document (hereinafter referred to as the

'Secured Assets'), after taking possession of the assets under the provisions of the SARFAESI Act, 2002

with the assistance of the Tahsildar, Krishnagiri pursuant to the order passed by the District Magistrate,

Krishnagiri vide order No.27133/2013/C2 dated December 5, 2015, and the same are being sold free

from charges and encumbrances of the secured lenders mentioned at item No.III of the Tender

Document.

2 Issue of Tender/ Offer / Bid Document

The Tender Document along with Offer Form is on sale from June 04, 2019 to June 18, 2019 on any

working day (except bank holiday) between 11.00 am to 5.00 pm and can be obtained from Shri Ashish

Aggarwal, DGM, Shri Saisanjeev, Manager, IDBI Bank Ltd, 7th Floor IDBI Tower, WTC Complex,

Cuffe Parade, Mumbai – 400005 by making payment of non-refundable fee of Rs.1000/- (Rupees One

Thousand only) towards cost of the Tender Document by way of crossed A/c Payee Demand Draft/Pay

Order drawn in favour of "IDBI Bank Ltd.–A/c Saketh India Ltd." payable at Mumbai issued by any

Nationalised Bank/Scheduled Bank

The bid document can also be downloaded from IDBI website (www.idbi.com) And

(https://idbi.auctiontiger.net). Those bidders preferring to download the Bid Document shall have

to furnish the non refundable fee of Rs.1000/- as mentioned above, at the time of submission of

the bid along with EMD. It may be noted that there shall be no sale of individual lots and each bidder

has to bid for all the lots simultaneously. However bidder should specify his bid for each lot

separately.Bidders who have downloaded the Bid / Tender Documents from IDBI website

(www.idbi.com) or from the website of the e-auction service provider

(https://idbi.auctiontiger.net) have the option to pay Rs.1000/- (Rupees one thousand only)

towards the cost of the same, by way of RTGS also. In case, the amount is remitted by way of

RTGS (in favour of IDBI Bank Limited, Account No.100037000010052, IFSC Code:

IBKL0001000, Branch: Bandra Kurla Complex, Mumbai), bidders must indicate RTGS UTR

No., amount remitted and date in the appropriate space in the Bid Forms.



9

3 Reserve Price and Earnest Money Deposit (EMD)

Details Reserve

Price

EMD

Lot I Land & Building Rs.1155 lakh Rs.116 lakh

Lot II Plant & Machinery Rs.86 lakh Rs.9 lakh


Lot IV Total Assets – Lot I + Lot II + Lot III Rs.1276 lakh Rs.128 lakh

4 The sale of Secured Assets is on “As is where is”, “As is what is & whatever there is” and

‘without recourse” basis. The description of the immovable properties is based on the

mortgages created by the Borrower with the secured lenders from time to time and the

representations made by them. The description of movable properties/stock is based on the

inventory prepared by the agency appointed by the AO showing the status as on August 10,

2016. The AO or the other secured lenders do not take or assume any responsibility for any

shortfall of the movable/immovable/stock assets or for procuring any permissions, etc. or

for the dues of any authority established by law. It is expressly made clear that the

AO/secured lenders do not take or assume any responsibility for any dues, statutory or

otherwise, of Saketh India Ltd. including such dues that may affect transfer of the assets in

the name of the purchaser and such dues, if any, will have to be borne/paid by the

purchaser. However, to the knowledge of the secured creditors, an amount of Rs.84,480/- is

due to Hosur Municipality and Rs.30,07,712 towards EPF, as per their notice dated

February 25, 2017 with Tax ref no: 153/016/02041 (old tax ref no:153/3101322), Ward 16.

& February08, 2019 from EPF regional office Salem respectively.. It shall be the sole

responsibility of the purchaser to ascertain and bear/pay such dues.

5 Inspection of assets

The interested parties may inspect the asset at their own cost between 11.00 a.m. and 5.00

p.m. on the assigned date viz. June 10, 2019, in the presence of a representative of the AO

available at the site to facilitate the inspection.

6 Due Diligence by the Bidders

The interested parties may carry out their own comprehensive due diligence in respect of the

Secured Assets including any dues relating to the Secured Assets. A bidder shall be deemed

to have full knowledge of the condition of the assets, relevant documents, information, etc.

whether the bidder actually verifies or not.

7 The bidders shall be deemed to have inspected and approved the Secured Assets to their

entire satisfaction and for the purpose, the Bidders may, in their own interest and at their

10

own cost, verify the area of the premises and details of movable assets/stock and any other

relevant information before submitting the Bids. It shall be presumed that the bidder has

satisfied himself/herself about the names, descriptions, particulars, quantities, qualities,

specifications, measurements, boundaries and abuttals of the assets/properties and that the

bidder concurs or otherwise admits the identity of the assets/properties purchased by

him/her notwithstanding any discrepancy or variation, by comparison of the description in

the particulars of the assets/properties and their condition.

8 The Bidder shall not be entitled to receive re-imbursement of any expenses which may have

been incurred in preparation of the Bid/Offer for submission and/or for carrying out due

diligence, search of titles to the assets and matters incidental thereto or for any other purpose

in connection with purchase of the assets under reference.

9 Submission of Tender/Offer

The Bidder shall complete in all respects the Offer form(s) annexed to the Tender

Document, and furnish the information called for therein and shall sign and date each of

the documents in the space provided therein for the purpose. The Bidder shall initial each

page of the Offer. Offers received for sale and / or accepted are not transferable.

The Format for submission of Profile of the bidder are given in Chapter VI & VII

respectively of this Tender Documents.

The format in Chapter VI is for Individuals and

The format in Chapter VII is Company / Proprietorship / Partnership firms.

Bidders may fill in only the form relevant to them.

The Bidders are also required to submit a declaration as per the format in Chapter

VIII of this Bid/Tender document.

10 The Tender/Offer shall be signed by a person or persons duly authorized by the Bidder with

the signature duly attested.

11 The Tender/Offer shall contain the full address, Telephone No., Fax No., e-mail-ID, if any,

of the Bidder for serving notices required to be given to the Bidder in connection with the

Offer.

12 The Tender/Offer form shall not be detached one from the other and no alteration or

mutilation (other than filling in all the blank spaces) shall be made in any of the documents

attached thereto.

13 Last date for submission of Tender/Offer /Bid Document

The interested parties may submit Tender / Offer / Bid Document duly filled and signed

along with the required documents to the AO, Shri Ashish Aggarwal, DGM / Shri Saisanjeev,

Manager, IDBI Bank Ltd, 7th Floor IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400005,

11

not later than 5 pm on June 18, 2019, in a sealed cover which shall be superscribed

“EMD for Saketh India Ltd.-Hosur unit”. The amount of EMD for each lot is as under :

Details EMD

Lot I Land & Building Rs.116 lakh (Rupees One Hundred and Sixteen Lakh

only)

Lot II Plant & Machinery Rs.9 lakh (Rupees Nine Lakh only)

Lot III Stock Rs.3 lakh (Rupees Three Lakh only)

Lot IV Total Assets- Lot I

+ Lot II + Lot III

Rs.128 lakh (Rupees One Hundred and Twenty Eight

Lakh only)

and the other sealed cover containing the Tender Document superscribed “Tender

Document –Saketh India Ltd.– Hosur unit – ____

.

Remittance of EMD by way of RTGS

Bidders who prefers to submit the EMD by way RTGS, may remit the EMD amount in

favour of IDBI Bank Limited, Account No. 100037000010052, IFSC Code: IBKL0001000,

Branch : Bandra Kurla Complex, Mumbai. Such bidders must indicate RTGS UTR No.,

Amount remitted and date in the appropriate space in the Bid Forms.

Bidders who have downloaded the Bid / Tender Documents from IDBI website

www.idbi.com or from the website of the e-auction service provider

https://idbi.auctiontiger.net must pay Rs.1000/- (Rupees one thousand only) towards the cost

of the same, by way of DD/ PO or by way of RTGS. In case, the amount is remitted by way

of RTGS, bidders must indicate RTGS UTR No., Amount remitted and date in the

appropriate space in the Bid Forms.

14 The bidder/representative whose Tender/ Offer /Bid Document is complete in every respect

and whose Demand Draft/Pay Order for EMD is found to be in order and /or remittance by

way of RTGS proceeds is credited into the account indicated well before the cut-off time

will be permitted to participate in the e -auction process. Bank does not take any

responsibility and will not entertain any complaint for any delay in transfer of funds by way

of electronic mode. Form of Tender /Offer/ Bid, if found incomplete in any respect, shall be

liable for outright rejection.


12

15 Registration with E-Auction Service Provider

1. Participants who are not already registered with the e-auction provider M/s E-

Procurement Technologies Limited should register themselves by following the

procedure mentioned at the website: https://idbi.auctiontiger.net

2. The participants intending purchasers are necessarily required to submit following

documents / papers for registration to M/s.e-Procurement Technologies Limited

a. SOI Form duly signed & filled up. Please download from

https://idbi.auctiontiger.net

b. Self attested copy of Pan Card

c. Self Attested valid residential proof (Voter Id card, Passport copy, Ration card,

telephone bill, electric bill - any one)

d. Self attested valid e mail id and mobile no.

The user id and password will be then sent directly to the registered participants / intending

purchasers whose Bid Document is complete in every respect and whose Demand Draft/Pay

Order for EMD is found to be in order and /or remittance by way of RTGS proceeds is

credited into the account indicated well before the cut-off time and the documents with

further directions by the e- auction provider company, if any, for log in and participating in

the auction through online process.

After receiving the user-id / password, in case any bidders feel the need for training / e –

auction support, such bidders may contact M/s. e-Procurement Technologies Limited

officials auction support, you may contact Mr. Vijay Shetty, Mob. : 06352490773 :

9265562821 & Phone : 079 61200 594 / 598 / 559/ 587 / 554 for e Bank/ AO / e-auction

service provider will not be responsible for any error occurred due to power failure /

computer hardware or software error / network error etc. at the time of e-auction.



13

16 The e- auction day : June 20, 2019 from 11.00AM to 1.00 PM

The initial 10 minutes of each auction will be kept open for all the intending bidders to bid.

The auction would be held with unlimited extensions of 5 minutes each, if required, on e-

auction platform at website: https://idbi.auctiontiger.net. In case no further valid bids are received

during the extended period, the last highest bid received would be treated as the successful bid

and auction would be treated as closed/terminated.

Increase in Bid Amount :

It may be noted that increase in bid amount, if any, during the e-auction period shall be made

as under.

In multiples of Rs.1,00,000/- for each lot

Increase in bid amount below Rs.1,00,000 /- will be rejected.

First bid should be of at least equal to Reserve Price or increment(s) over the Reserve Price in

multiples as above.

17 AO reserves the right to retain the EMD of top three bidders upto three months from the date of

e -auction and the amount of EMD will not carry any interest. The Bids so retained will be

valid for two months from the date of e-auction or till further extension of time as may be

approved by the AO. The EMD of other bidders will be returned within 7 days from the date of

e-auction.

18 Payment of Sale Price

The successful bidder would be informed in writing about the acceptance of his/her bid/offer

by the AO and will be required to pay a deposit 25% of the sale price (less the amount of

EMD) immediately i.e. on the same day or not later than next working day from the date of

letter intimating acceptance of his/her bid by crossed A/c Payee Demand Draft/Pay Order

drawn in favour of "IDBI Bank Ltd.-A/c Saketh India Ltd.– payable at Mumbai issued by any

Nationalised Bank/Scheduled Bank or by way of RTGS in favour of IDBI Bank Limited,

Account No. Account No. 100037000010052, IFSC Code: IBKL0001000, Branch : Bandra

Kurla Complex, Mumbai.

The balance amount of the sale price shall have to be paid within 15 days of the date of letter

intimating acceptance of his/her bid or by July 04, 2019, by way of crossed A/c Payee Demand

Draft/Pay Order drawn in favour of "IDBI Bank Ltd.-A/c Saketh India Ltd – " payable at

Mumbai issued by any Nationalised Bank/Scheduled Bank or by way of RTGS in favour of

IDBI Bank Limited, Account No. Account No. 100037000010052, IFSC Code: IBKL0001000,

Branch : Bandra Kurla Complex, Mumbai) or such extended period as may be agreed upon in

writing between the successful bidder and secured creditor.


14

19 In case the successful bidder fails to deposit 25% of the sale price, the AO shall forfeit the

EMD and if the successful bidder backs out after paying 25% of the sale price, then AO shall

forfeit the 25% of the sale consideration so deposited including the EMD.

20 The defaulting successful bidder shall forfeit all claims to the assets or to any part of the sum

for which it may be subsequently sold.

21 On confirmation of sale and if the terms of payment have been complied with, the AO

exercising the power of sale shall issue Certificate of Sale for the movable/stock and

immovable property in favour of the purchaser as per the format provided in the Security

Interest (Enforcement) Rules, 2002.

22 The successful Bidder shall, after making full payment of sale price within 15 days of

acceptance of bid/offer or such extended period as may be granted by the AO at his sole and

absolute discretion, arrange to take possession of the Secured Assets immediately thereafter. It

is explicitly stated that once the Sale Certificate is issued by the AO, the AO shall not be held

responsible for security and safe-keeping of the Secured Assets and buyer shall be solely

responsible for the same.

23 The purchaser will be required to bear all the necessary expenses like stamp duty, registration

expenses, etc. for transfer of assets in his/her name. It is expressly stipulated that there are no

implied obligations on the part of the AO or the secured lenders and it shall be solely the

obligation of the Bidder, at his/her cost, to do all acts, things and deeds whatsoever for the

completion of the sale including payment of all statutory liabilities / housing society tax /

maintenance fee / electricity / water charges etc., outstanding as on date and yet to fall due

would be ascertained by the bidder(s) and would be borne by the successful bidder to get the

assets transferred in his /her/their name. Bank does not take any responsibility to provide

information on the same. However, to the knowledge of the secured creditors, an amount of

Rs.84,480/- is due to Hosur Municipality and Rs.30,07,712/- towards EPF, as per their notice

dated February 25, 2017 with Tax ref no: 153/016/02041 (old tax ref no:153/3101322), Ward

16. & February08, 2019 from EPF regional office Salem. It shall be the sole responsibility of

the bidder to ascertain and bear/pay such dues.

24 The submission of the Bid/Offer means and implies that the Bidder/Offerer has unconditionally

and irrevocably agreed to and accepted all the above terms and conditions of the Bid/Offer laid

down herein.

25 The time hereinabove fixed for the observance and performance by the bidder of any of the

obligations to be observed by him/her under these conditions is and shall be deemed to be of

the essence.

26 General Terms and Conditions

15

The AO shall be at liberty to amend/modify/delete/drop any of the above conditions as may be

deemed necessary in the light of the facts and circumstances.

27 The entire procedure of e – auction, the sequence of inter-se bidding etc. shall be at the sole

and absolute discretion of the AO and the intending bidders shall have no right whatsoever to

object to the same.

28 The AO reserves the right and liberty to accept/reject any or all the Bids/Offers and also

reserves the right to cancel the entire sale process without assigning any reasons. In case all the

bids are rejected or the successful bidder fails to make payments as required in the Bid

Document or withdraws his/her bid, the AO, at her sole and absolute discretion, reserves the

right to go for re-bidding or sell the assets by any of the modes as prescribed in the SARFAESI

Act including sale by negotiation with any of the bidders and/or other parties by private treaty

and the Bidders shall have no right to object to the same.

29 In the event the said sale in favour of the bidder not being confirmed by AO for any reason, or

if the sale is set aside by an order of the Court/Tribunal, then in that event the sale shall be void

and the bidder shall, in that event be entitled only to receive back his/her Earnest Money

Deposit (EMD) or purchase money as the case may be, but without interest, and the bidder

shall not be entitled to be paid his costs, charges and expenses of and incidental to the said sale

and investigation of title or any other costs incurred by him/her.

30 Notwithstanding anything stated elsewhere in this Tender Document, the AO reserves the right

to call off the sale process at any point of time without assigning any reasons.

31 Jurisdiction

All disputes arising amongst the parties shall be adjudicated according to Indian Law and the

Courts in Mumbai alone shall have jurisdiction to entertain /adjudicate such disputes.

16

V. BRIEF DETAILS OF TENDER/OFFER DOCUMENT

TENDER/OFFER FORM FOR PURCHASE OF SECURED

ASSETS/PROPERTY OF SAKETH INDIA LTD.

LOCATED AT DHARMAPURI DISTRICT, HOSUR, TAMIL NADU

1 Issue of Bid/Offer

Document

: The Tender/Offer Document can be obtained from Shri Ashish

Aggarwal, Deputy General Manager, Shri Saisanjeev, Manager, IDBI

Bank Ltd, NPA Management Group, 7th floor, IDBI Tower, Cuffe

Parade, Mumbai 400005from June 05, 2019 to June 18, 2019 on any

working day (except Saturday) between 11.00 am to 5.00 pm on

payment of non refundable fees of Rs. 1000/- (Rupees One Thousand

Only) by a crossed A/c Payee Demand Draft/ Pay order drawn in

favour of “IDBI Bank Ltd- A/c Saketh India Ltd.” payable at

Mumbai issued by any Nationalized bank / Scheduled Bank.

The Tender/Offer Document can also be downloaded from IDBI

website (www.idbibank.com) And (https://idbi.auctiontiger.net).

Those bidders preferring to download the Bid Document from the

website shall have to furnish the non-refundable fee of Rs.1000/-

(Rupees One Thousand only) as mentioned above at the time of

submission of the tender document.

Interested parties can participate in the e-auction for only one lot or

all, as they desire. Separate Tender Documents along with EMD to be

submitted for each lot.

2 Date of Inspection June 10, 2019 from 11.00 a.m. to 5.00 p.m.

3 Cost of the

Tender/Offer

Document

: Rs. 1000/- (Rupees One Thousand Only).

Separate Tender Document to be submitted for each lot.

4 Last Date and time for

submission of Tender

Document together

with EMD

: June 18, 2019 upto 5 pm

5 Place, Date and time

of E-Auction

: Place: e-auction platform at website: (https://idbi.auctiontiger.net)

Date : June 20, 2019

Time : 11 am to 1 pm with unlimited extensions of 5 minutes each

beyond 1 am, if required.

The initial 10 minutes of each auction will be kept open for all the

intending bidders to bid.

* * *



17

VI. FORMAT FOR SUBMISSION OF

PROFILE OF THE BIDDER- INDIVIDUAL

For purchase of secured assets / property of M/s Saketh India Ltd. located at

Dharmapuri District, Hosur, Tamil Nadu owned by the borrower company/ promoters /

directors of the above company

(To be filled and submitted by the Bidder/Offerer)

1 a) Full Name of the

Bidder/Offerer

(in Block letters)

:

b) Complete Postal Address with

PIN Code, Telephone Nos.;

Fax Nos.; Website, etc.

:

c) Mobile Nos.

d) E-mail ID

2 Brief particulars of business (if

any)

:

3 Relationship, if any, the

Bidder/Offerer has with any

employee of IDBI Bank Ltd.

:

4 Name and particulars of the

Company/Firm/Person in whose

name the Secured

Assets/property are to be

purchased

:

5 Details of Purchase of Tender

Document of Rs.1000/-

mentioning the lot No.

i) Form No.

ii) Demand Draft No. /

Pay Order No.

iii) Date of Demand Draft /

Pay Order

iv) Name of the issuing

Bank and Branch

Bidders who have downloaded the Bid / Tender Document from IDBI website

www.idbi.com And www.bankauctions.in and prefers to remit Rs.1000/-

separately by way RTGS must indicate RTGS UTR No., Amount and date.

RTGS UTR NO. :

Amount remitted :

Date :

18

6 Details of Earnest Money

Deposit (EMD) (mention Lot

No.)

:

i) Demand Draft No. /

Pay Order No.

:

ii) Date of Demand Draft /

Pay Order

:

iiii) Name of the issuing

Bank and Branch

:

Bidders who prefer to submit the EMD by way RTGS, must indicate RTGS

UTR No., Amount remitted and date.

RTGS UTR NO. :

Amount remitted :

Date :

7 Income Tax Permanent Account

Number(s) (PAN) of Bidder

/Offerer

:

8 Bank details in case of refund to

the bidder

:

9 Details of offer

Lot I (not belowRs.1155 lakh)

Lot II (not below Rs.86 lakh)

Lot III (not below Rs.35 lakh)

Lot IV (not below Rs.1276 lakh)

:

Lot I – Rs._______

Lot II- Rs.________

Lot III- Rs. _______

Lot IV- Rs. _______

* Each and every information and documents to be submitted is mandatory.

I/We have read and understood the detailed terms and conditions of the sale and have

also read, perused and understood all the relevant papers and have carried out my/our

own due diligence. In case any information is found to be incorrect/ incomplete, I/We

shall not hold the Authorised Officer or secured lenders responsible for the same and

shall not have any claim whatsoever against either of them.

Signature of the duly authorised official of the Bidder/Offerer

Name and Designation of the Authorised Signatory

Place :

Date :

19

VII. FORMAT FOR SUBMISSION OF PROFILE OF THE BIDDER

COMPANY/ PARTNERSHIP/ PROPRIETORSHIP

For purchase of secured assets / property of M/s Saketh India Ltd. located at

Dharmapuri District, Hosur, Tamil Nadu owned by the borrower company/

promoters/directors of the above company

(To be filled and submitted by the Bidder/Offerer)

1. a) Name of the Company/ Firm/ Party

(in Block letters)

b) Complete Registered Address

c) Complete Correspondence Address with

PIN Code, Telephone Nos.; Fax Nos.;

Website, etc.

2. Date of Incorporation

3. Constitution (Private/Public/Joint)

4. Name of Chairman

5. Name of Managing Director / Partners

6. Board of Directors a)

b)

c)

d)

e)

f)

7. Income tax PAN No.

(attested copy of PAN card of the company to

be attached)

8. Date of Last Income Tax Return

(Enclose copy of last 3 years' Income Tax

clearance certificate)

9 a) Full Name of the Authorised Person to

carry out e- auction on behalf of the

company/firm /party (in Block letters)

(Original Authorised letter to be attached

to carry out the e-auction process)

:

b) Complete Postal Address of the Authorise

person with

PIN Code, Telephone Nos.;

Fax Nos.; Website, etc.

:

c) Mobile Nos.

d) E-mail ID

10 Designation of the Authorize Person :

11 Relationship, if any, the Bidder/Offerer has

with any employee of IDBI Bank Ltd.

:

12 Details of Purchase of Tender Document of

Rs.1000/- (mention lot No.)

20

i) Form No.

ii) Demand Draft No. /

Pay Order No.

iii) Date of Demand Draft /

Pay Order

iv) Name of the issuing

Bank and Branch

Bidders who have downloaded the Bid / Tender Document from IDBI website

www.idbi.com And www.bankauctions.in and prefers to remit Rs.1000/- separately

by way RTGS must indicate RTGS UTR No., Amount and date.

RTGS UTR No.

Amount remitted

Date

13 Details of Earnest Money

Deposit (EMD) (mention lot no.)

:

i) Demand Draft No. /

Pay Order No.

:

ii) Date of Demand Draft /

Pay Order

:

iiii) Name of the issuing

Bank and Branch

:

14 Bank details in case of refund to the

Bidder

15 Details of offer

Lot I (not belowRs.1155 lakh)

Lot II (not below Rs.86 lakh)

Lot III (not below Rs.35 lakh)

Lot IV (not below Rs.1276 lakh)

Lot I – Rs._______

Lot II- Rs.________

Lot III- Rs. _______

Lot IV- Rs. _______

* Each and every information and documents to be submitted is mandatory.

I/We have read and understood the detailed terms and conditions of the sale and have also

read, perused and understood all the relevant papers and have carried out my/our own due

diligence. In case any information is found to be incorrect/ incomplete, I/We shall not hold the

Authorised Officer or secured lenders responsible for the same and shall not have any claim

whatsoever against either of them.

Signature:

Name of the Authorised Person :

Designation :

Company Seal

All authorizations should be annexed to this form.

21

VIII. FORM OF APPENDIX TO THE BID/OFFER

(DECLARATION BY THE BIDDER)

(ON STAMP PAPER OF RS.100/-)

FORM OF BID/OFFER

(Note: This Appendix forms part of the Bid/Offer)

To,

Shri Ashish Aggarwal,

Authorised Officer,

NPA Management Group,.

IDBI Tower, 7th Floor,

WTC Complex,

Cuffe Parade,

Mumbai 400 005

Sir,

Sale of Secured Assets / Property of M/s Saketh India Ltd. located at

Dharmapuri District, Hosur, Tamil Nadu

1 Having fully examined and understood the terms and conditions of the Tender

Document and condition and status of the Secured Assets/property, I/We offer to

purchase the said Secured Assets strictly in conformity with the terms and conditions

of this Tender/Offer Document.

2 I/We understand that if my/our Bid/Offer is accepted, I/We shall be responsible for

the due observance and performance of the terms and conditions of the Tender/Offer

and acquire the Secured Asset/property. Should I/We fail to execute and perform the

terms and conditions when called upon to do so, the Earnest Money Deposit (EMD)

shall be forfeited.

I/We further understand that if my/our Bid/Offer is accepted, should I/we fail to

deposit the balance amount of 75% of the sale consideration (after having paid 25%

of the sale consideration) by the stipulated date, the said amount of 25% of the sale

consideration (including Earnest Money Deposit) or any further amount/s paid by

me/us shall also be forfeited, as laid down in the terms and conditions of the Bid

Document.

I/We further understand that if my/our Bid/Offer is accepted, after making full

22

payment of the sale price within 15 days of acceptance of bid/offer or such extended

period as may be granted by the AO at her sole and absolute discretion, I/we shall

arrange to take possession of the secured assets within a maximum of 30 days. I/We

understand that once the Sale Certificate is issued by the AO, the AO shall not be

held responsible for security and safe-keeping of the secured assets. We further

understand that in the event I/We fail to take possession of the Secured Assets as

stated above, the AO reserves the right to revoke the sale confirmed in my/our

favour.

3 I/We clearly understand and accept that the Authorised Officer or the secured lenders

do not take or assume any responsibility for any dues, statutory or otherwise, of M/s

Saketh India Ltd. including such dues that may affect transfer of the assets in the

name of the purchaser and such dues, if any, will have to be borne/paid by me/us in

case my/our Bid/offer is accepted.

4 I/We understand that you are not bound to accept the highest or any Bid/Offer you

may receive. Further, I/we will not raise any objection in case the Authorised Officer

goes for re-bidding or sell the assets by any of the modes as prescribed in the

SARFAESI Act including sale by negotiation with any of the bidders and/or other

parties by private treaty.

5 I/We understand that time is the essence for completing the acquisition formalities of

the Secured Assets/property and I/we agree and undertake to abide by it.

6 I/We also enclose a Demand Draft/Pay Order of value Rs.116 lakh (Rupees One

Hundred & Sixteen Lakh only) -Lot I / Rs.9 lakh (Rupees Nine Lakh only) - Lot II /

Rs.3 lakh (Rupees Three Lakh only) - Lot III and Rs.128 lakh (Rupees One Hundred

& Twenty Eight Lakh only) – Lot IV towards Earnest Money Deposit (EMD) in the

name of "IDBI Bank Ltd.-A/c M/s Saketh India Ltd." payable at Mumbai

Or

I/ We have remitted Rs.116 lakh (Rupees One Hundred & Sixteen Lakh only) -Lot I /

Rs.9 lakh (Rupees Nine Lakh only) - Lot II / Rs.3 lakh (Rupees Three Lakh only) -

Lot III and Rs.128 lakh (Rupees One Hundred & Twenty Eight Lakh only) – Lot IV

towards Earnest Money Deposit (EMD) to IDBI Bank Ltd by way of RTGS amount

in favour of IDBI Bank Limited, Account No. 100037000010052, IFSC Code:

IBKL0001000, Branch : Bandra Kurla Complex, Mumbai).

23

7 We understand that the EMD will not carry any interest.

8 We understand that the Bid/Offer should be unconditional and Bid/Offer having

conditions contrary to the terms and conditions of the Tender/Offer document can be

summarily rejected.

Place :

Dated ...___ day of __________2019

Signature ...........………………………. in the capacity of ................................

duly authorised to sign Bid/Offer for and on behalf of .................................................

(Name and address of the Bidder/Offerer)

(IN BLOCK CAPITALS)

WITNESS :

Signature : .............................

Name & Address : ....................................

Occupation : .......................... ................................