1.
The
intending bidders should submit their bids in a sealed cover
duly enclosing 10% of the upset price of the property as EMD by
means of D.D. drawn in favour of the Recovery Officer
(for DRC
No.___________), Chennai Debts
Recovery Tribunal-2,
payable at Chennai before 12.00 Noon on the date of auction.. They
can inspect the property between 11.00 AM and 3.00 PM on
_____________.
2. The
properties will not be sold below the upset price.
3.
The
successful bidder should pay 25% of the bid amount (less the E.M.D.)
immediately on the sale being knocked down in his favour and the
balance money in addition to poundage fees [@ 1% of bid
amount+Rs.10/-], within 15 days.
4.
The
successful bidder should bear the charges/fee payable for conveyance
such as Registration fee, stamp duty etc as applicable as per law.
5.
The
Recovery Officer has the absolute right to accept or reject a bid or
postpone/cancel the sale, without assigning any reason
6.
The
property is sold on “as is where is/on what it is/no complaint”
basis condition.
7.
Before
participating in the auction intending bidders are advised to go
through the general conditions of sale displayed in the notice board
of the Tribunal/Bank/Place of auction. Information
about other conditions of sale/details of the property, extent &
boundaries etc can be collected from the Bank Manager.
