Click here EPFO Terms & Conditions
Click here for MSTC Terms & Conditions
Contact Details:
1. EPFO : Mr V.Sudheer, Enforcement Officer,(M.No: 7013364300).
2. MSTC : Mr SIDDHARTH VARADI, DM, Mobile No.
040-23301049/9515076275. email id: svaradi@mstcindia.co.in.
CHECK LIST FOR SALE OF IMMOVABLE PROPERTY
1) Full description of property,
including structures and comnpound location:
i) 3BHK portion facing
North-East Entrance bearing unit No G-1, in Ground floor with built-up area
1450.00 Sft(Including common Area).
ii) Situated in Multi Storied Apartment
complex in the name of IMPERIAL RESIDENCY, developed during the year
1999-2001.
2)Location, city Survey No. land marks: Situated in Padmarao
nagar, Secunderabad. Near to NTR Statue and Bhavani Selections & Very Near
to Sai Baba Temple and Prime Packers & Movers.
3) Area of plot, Document No.etc: 1450.00 Square Feet , vide document
No. 910/2016.
4) Bank mortage/Hypothecation on
immovable/movable property: Rs 21,12,679.54/-(HDB Financial Services Limited).
5) Physical custody-in Whose possession, Seized authority, relevant laws and
reasons if any ?
Attached by Recovery Officer
under Section 8B to 8G of EPF & MP Act, 1952 and currently occupied by tenant of
previous owner.
6) Whether the seller can effect physical delivery on
receipt of full payment?
Yes , as per bidding
terms and conditions .
7) Full name and designation of authorized signatory
for signing the Agreement for sale deed before Sub-Registrar or Assurances :
Sri. Vaibhav V Donglikar, Regional P.F. Commissioner-II, Regional Office,
Kukatpally, Hyderabad.
Full Name and designation of authorized signatory: Sri.
Vaibhav V Donglikar, Regiona P.F. Commissioner-II, Regional Office, Kukatpally,
Hyderabad.
Recovery Officer as Authorized Officer
The
sale certificate CP-20 under Rule/Section 8B to 8G of EPF & MP Act, 1952
Attachment of Property of Defaulters for recovery of EPF dues will be issued.
8) Name, Designation and contact Mobile/Land line Tel. No. of Officials who
will be attending/monitoring inspection of property from the seller side:
1. Sri.V.Sudheer, Enforcement Officer
(M.No: 7013364300)
9) Attendance record of the
prospective bidder coming for inspection is required to be maintained by the
Seller: YES
MSTC TERMS AND CONDITIONS:
TERMS &
CONDITIONS OF SALE ON AS IS WHERE IS WHATEVER THERE IS BASIS IN THE MATTER OF
EPFO e-Auction Ref: MSTC/RO/EMPLOYEES PROVIDENT FUND ORGANISATION/3/KUKATPALLY,
KUKATPALLY.
1 Preliminary: The RECOVERY OFFICER, EPFO KUKATPALLY of has
permitted the EPFO KUKATPALLY to sell the Scheduled property/ies by inviting
competitive bids through e-Auction to be conducted by selling agent namely M/s
MSTC LTD., a Miniratna Central Public Sector Undertaking (CPSU) under Ministry
of Steel, GOI, on website: https://www.mstcecommerce.com
2 Definitions and
Abbreviations: Unless the context otherwise requires under the Terms and
Conditions of the e- auction Sale the following words wherever appear means:
2.1 Scheduled Property means property described in the Sale
Notice/Schedule-1.
2.2 Bidder(s)/ Successful bidder(s) means any person
being an Individual or Proprietor or Partnership firm or LLP or company and who
is paying the Earnest Money Deposit (EMD) and getting registered with MSTC.
Bidder(s)/Successful bidder(s) while being used interchangeably shall be deemed
to mean and include his/her/ their/its legal heirs, legal representatives,
successors in interest and permitted assignee, as the case may be.
2.3 EMD
means Earnest Money Deposit and /or Pre-Bid EMD to be paid as described in
the e-Auction catalogue to qualify for participation in e auction.
2.4 "High
Competent Authority ,EPFO" means the RECOVERY OFFICER, EPFO,RO,KUKATPALLY.
2.5 MSTC means MSTC Limited and further means Service Provider/ Selling
Agent.MSTC is hosting auction on the receipt of NOTICE from EPFO.MSTC is not involved in any decision making role
2.6 Sale Notice means the Auction Sale Notice published in the
News Papers and shall also include other information i.e., Terms and Conditions
of Sale governing the e-auction sale, Know Your Customers (KYC) documents,
required particulars for Online Registration of Bidders, and all other
information and document hosted on webpage: https://www.mstcecommerce.com for
guidance of the Bidders.
2.7 "Seller" means the EMPLOYEES PROVIDENT FUND
ORGANISATION, Kukatpally
2.8 The person(s) means and includes legal person
interested in submitting quotations/offers.
3 Inspection of Property
-Prospective Bidders may carry out inspection of the scheduled property/ies on
the scheduled dates and time only as given in the sale notice.
4 Buyer
beware
4.1 Property is being sold on as is where is whatever there is
basisby EPFO. Bidders are advised to ascertain on their own all information
about the nature of right and title, survey/Municipal/Corporation/Industrial
plot Nos. and respective maps, extent/area of Land, boundaries, statutory
sanctions or approval and all other dues statutory/other with respect to
immovable property prior to submission of bid in the e-Auction. No dispute in
this regard will be entertained by the Seller/Selling Agent after submission of
bids. The Bidder will not raise any dispute regarding the terms and conditions
of the e-auction or about the particulars of the scheduled property or contest
the same once he has been declared as successful Bidder.
4.2 Any Bid made
shall be deemed to have been submitted after complete satisfaction of the title,
status, condition, quantity and quality etc., of the scheduled property/ies.
Conditional offers/bids shall not be accepted. Amendment to the offers/bids
shall not be permitted after the closure of e-auction. The rule of caveat emptor
is applicable.
5 Earnest Money Deposit (EMD)/Pre-Bid EMD
5.1 The pre-bid
amount/Earnest Money Deposit(EMD) needs to be paid by the participating buyers
through MSTC's e-commerce portal through Pay PreBid EMD LINK provided in the
buyer login page only, provided in the buyer account, within Office hour, at
least one day before the date of e-auction and no other payment mode will be
entertained. The buyer should check the EMD Ledger link after making the payment
and the same amount should be reflected in this link. The unsuccessful buyers
can raise their refund request in EMD Refund Request link. Only the registered
customers who will submit the pre bid EMD within the aforesaid period will be
able to participate against the above mentioned lot/s in this e-auction.
The entire PRE BID EMD of the successful bidders will be forfeited automatically
if the highest bidder fails to pay the required Post-Bid Payment for the lot
awarded to them. The PRE BID EMD of the unsuccessful parties will be refunded.
No interest is payable by MSTC/SELLER on the PRE BID EMD/ EMD.
5.2 Bidder/s
who do not submit the pre-bid EMD would not be eligible to participate in
e-Auction.
6 Submission of Offers
6.1 The person(s) interested in
submitting quotations/offers shall submit the offers online through website:
www.mstcecommerce.com The offer/bid submitted in other mode shall not be
entertained. 6.2 Bidders are required to complete the registration formalities
with MSTC before payment of the interest free EMD/pre-bid amount on or before
one day prior to scheduled date and time as prescribed in Schedule 2.
6.3
The prospective bidders should comply with KYC norms. All financial transaction
towards e-auction sale of scheduled property must be made only through the bank
account (registered with MSTC) in respect of which the cancelled cheque has been
given by the authorized and identified Bidder.
7 e-Auction
7.1 Bidder shall be allowed to increase bid equal to or above the start price in increments of Rs:50000/-.
7.2
e-Auction Result/Status: Status of bids must be personally seen by the Bidders
online through the link "Auction Lot Status" immediately after closing of
e-Auction. Highest Bid is subject to approval of RECOVERY
OFFICER,EPFO,RO,KUKATPALLY and thereby securing the status of highest bidder
confers no right so as to demand the automatic confirmation of sale in favour of
highest bidder.
7.3 Email Address of Bidders must always be kept valid,
failing which Bidders will be liable for non-compliance of payment or any other
instruction required to be issued by MSTC to them via email.
7.3 The Sale
will be governed by the Material List i.e. guidelines for online registration of
intending bidders and all other information/ documents hosted on webpage for
guidance of intending bidders and pertaining to the e-auction sale & Terms &
Conditions (hereafter referred as TC for brevity) displayed on the "Live
e-Auction Floor". The Material List & TC displayed under "View Forthcoming
Auctions" on MSTC's e-Auction Website are tentative and subject to change at
Sellers / MSTC's sole discretion before the start of e-Auction. Bidders should
therefore download the Material List and TC displayed only under "View Live
Auctions" for their record purpose, if required. Participation in the e-Auction
will be deemed to imply that the Bidders have made themselves thoroughly aware
of and accepted the TC, and Material List. Seller / MSTC shall have the right to
issue addendum to the TC or Material List to clarify, amend, modify, supplement
or delete any of the conditions, clauses or items stated therein and the
Addendum so issued shall form a part of the original TC. In this regard, the
prospective bidders are advised to keep a close watch on the MSTC website to
take notice of such addendum/s if any.
7.4 During Live Auction, only brief
Lot details will be shown under "LotName" on the "Auction Floor" where Bidders
are required to bid. The detailed "Lot Description" can be seen by the Bidders
by clicking on the "Lot Name" and it shall be the responsibility of the Bidders
to see the "Lot Description" before bidding and no representation/complaint from
the Bidders in this regard will be entertained by MSTC/Seller.
7.5 It will
be the Bidder's responsibility to personally see the result of e-Auction by
seeing and downloading the "Auction Lot Status" from the Website immediately
after Closure of e-Auction which will be displayed up to 7(Seven) days from the
date of Closure of e-Auction (excluding the date of closure of e-Auction). A
system generated automatic Sale Intimation Letter will be issued by e-mail to
the Highest Bidder once the highest bid or any other bid is accepted by the
Recovery Officer,EPFO,RO,KUKATPALLY. Bidders must therefore keep a watch on
their incoming e-mail. No hard copy of the Sale Intimation Letter (on Confirmed
or STA basis) will be issued by MSTC.
7.6 The Bidders shall be solely
responsible for all consequences arising out of the bid submitted by him
(including any wrongful bidding by him) and no complaint/representation will be
entertained by SELLER/MSTC in this regard. Bidders must be careful to check the
Bid Amount/No. of 0/No. of Digits, etc., and if required, rectify their bid
before submitting the Bid into the live e-Auction floor by clicking the Bid
Button. In case of any bid being equal to or more than 5 (five) times the
current Highest Bid for the Lot, this will be displayed by way of a WARNING
MESSAGE on the Bidders screen before he confirms/submits the bid. There is no
provision for putting Bids in decimals.
8 Acceptance of the highest (H-1)
bid
8.1 Acceptance of the highest (H-1) bid is subject to approval /
confirmation by the competent authority, EPFO KUKATPALLY and securing the status
of highest Bidder, confers no right, so as to demand the automatic confirmation
of sale in his / her favour.
8.2 The ENFORCEMENT OFFICER,EPFO KUKATPALLY
shall submit a report along with the e-auction result before the RECOVERY
OFFICER,EPFO,RO,KUKATPALLY soon after conclusion of e-auction for approval of
sale in favour of highest Bidder. The Recovery Officer,EPFO,RO,KUKATPALLY may
approve the highest bid considering the adequacy of price in light of the
valuation and other relevant facts as may be deemed fit and proper by EPFO
rules. The sale shall stand confirmed only after payment of the entire bid
amount as approved by the EPFO and Goods and Service Tax (GST) as may be
applicable over and above the bid amount. Upon approval of highest bid, the
highest Bidder will be informed about the same by MSTC via email only.
8.3
Once the bid is accepted by the EPFO, confirmation mail or letter shall be sent by EPFO to buyer.
8.4 25%
of the bid amount to be deposited to EPFO KUKATPALLY by the successful bidder
within 2 days from the date of acceptance of H1 bid or as per EPFO rules failing
which the Pre-Bid EMD/EMD shall be forfeited.
8.5 The entire due balance
payment will have to be paid by the successful Bidder to the EPFO,RO,KUKATPALLY
within duration mentioned by EPFO of acceptance of H1 bid.
8.6 The highest
Bidder will not be entitled to assign their right to buy the scheduled property
to any third party or nominate any third party, once they are declared to be the
successful Bidder. In other words, the Sale will be made only to the successful
Bidder and not to any third party.
9 Forfeiture of EMD, etc.
9.1 The
Seller reserves the right to forfeit any amount/money lying with MSTC/Seller
from the successful Bidder who defaults in making the due payments against the
e-Auction even though such amount/money may be lying with Seller/MSTC and
payable to the said Bidder against any other contract/transaction with seller.
9.2 The successful Bidder shall pay full and final bid amount along with GST
as may be applicable, within the time prescribed failing
which the EMD amount remitted will stand forfeited and will be credited to the
Account of the EPFO KUKATPALLY by MSTC.
10 Delivery of Possession &
Confirmation of Sale
10.1 The possession of the property/ies shall be handed
over to the successful bidder/Bidder vide EPF-CP-20 after 30 days of payment
of full and final sale consideration.
10.2 The scheduled property shall
remain in every respect at the entire risk of the BUYER from the date of issue
of " EPF-CP-20" by the SELLER.
10.3 Delivery of the scheduled property/ies
as covered in this e-auction will be made on "As is Where is Whatever There is
basis.
10.4 The sale deed will be done in favour of the successful bidder
after the sale is confirmed by the EPFO,RO,KUKATPALLY in favour of the
successful auction successful bidder
11 Submission of Draft Sale Deed for
approval
11.1 . It shall be the absolute responsibility of the respective
successful bidder to confirm the authentic boundary, survey No./Corporation No.,
Survey map and all other relevant information for proper identification of the
sold property. The cost of stamp duty, registration/transfer and all types of
other dues and charges levied by any authority relating to transfer of property
shall be borne by the successful bidder.
12 GST, etc.
12.1 Successful
Bidder shall pay GST as may be applicable, over and above the approved bid
amount.
13 General
13.1 The sale will be subject to further
modification/alteration of terms and conditions of sale as the Recovery
Officer,EPFO KUKATPALLY may deem fit and proper.
13.2 The Recovery
Officer,EPFO KUKATPALLY reserves the right to withdraw the sale and decline to
accept any offer including the highest offer without assigning any reason
thereof. The sale will be confirmed by the EPFO,RO,KUKATPALLY only after the
entire sale consideration has been deposited by the successful bidders.
13.3
No Authority, other than the RECOVERY OFFICER,EPFO KUKATPALLY will have the
jurisdiction to deal with any matter arising out of the sale proceedings.
13.4 The instant Sale Notice shall stand as public notice and notice to secured
creditor/s, petitioner/s, contributories and any other stakeholder in the
company. Any kind of objection with respect to subject matter of sale must be
brought to the notice of the Recovery Officer, EPFO,RO,KUKATPALLY before
acceptance of bid. No objection of any kind shall be entertained thereafter.
13.5 All contracts/transactions entered into by the buyer/Bidder arising out of
this e-auction shall be governed by the Integrity pact available on website:
www.mstcindia.co.in and https://www.mstcecommerce.com
13.6 The information
in respect of the scheduled property have been stated to the best of the
knowledge from the available records. The Seller/MSTC, however, shall not be
responsible for any error, misstatement or omission in the said particulars. The
Bidders are, therefore, requested to verify the same, in their own individual
interests before submitting the Bids.
EPFO TERMS AND CONDITIONS:
TERMS &
CONDITIONS OF SALE OF IMMOVABLE PROPERTY OF M/s 24BY7 CORPORATE SERVICES LIMITED
BY PUBLIC AUCTION
General
1. The property shall be sold on As is where
is basis and sale shall be subject to other terms and conditions as published
on the official website of MSTC Ltd.
2.The particulars mentioned in the sale
proclamation have been stated to the best of the information of this office but
this office shall not be answerable for any error, misstatement or omission in
the proclamation of sale.
3. So far known to this office there are no
claims, liabilities or encumbrances other than as mentioned in the Proclamation
of sale. The Bidders may get it verified.
4. So far known to this office
there are no arrears of Municipal tax or other taxes but if there are any, if
the auction price obtained what is due from the defaulter to the EPFO then from
out of the excess amount such Municipal tax arrears etc., will be paid. But if
there is no excess, such taxes will not be paid by the EPFO and the successful
bidder of the property has to take the property subject to payment of taxes.
5. Each bidding will be increased by
Rs.50000/-. In the event of any dispute arising as to the amount of bid, or as
to the bidder, the lot shall at once be again put to auction.
6. The property will be normally sold in the same order in which they have
been shown in the proclamation of sale.
7. Each
bidder should be qualified to bid at the auction. In case of any dispute
regarding qualification, decision of Recovery Officer shall be final.
8 As
per Notification No 36/2017 Central Tax (Rate) dated 13-10-2017 and Notification
No 37/20178 Integrated Tax (Rate) dated 13-10-2017, Principal / Seller being
Govt Unit, so GST and Cess on Goods will be displayed by Buyer under Reverse
Charge Mechanism.
9.The successful bidder should bear all statutory dues /
taxes / charges as applicable as per law.
10.There
is a reserve price(Start Price) of Rs.52.95 Lakhs /- fixed for auction and if the
highest bid is grater than this reserve price even though the Inspector conducting
auction might have knocked down in favour of the highest bidder, the Recovery
Officer, EPFO in his discretion may decline to accept such bid.
11. If the price offered appears to be clearly inadequate also the Recovery
Officer, EPFO may decline to accept the bid.
12 The Inspector/MSTC conducting the sale shall have the
discretion to adjourn the sale for any reason subject to the provisions of the
Second Schedule to the Income-tax Act, 1961. There is no necessity for fresh
proclamation sale to be issued if the adjournment is for a period of not more
than 30 days.
13 2% of the purchase price upto Rs.l,000/- and 1% of the
purchase price for the amount exceeding Rs.1,000/- will be collected from the
successful bidder as poundage by way of Demand Draft in favour of Regional
Provident Fund Commissioner, Kukatpally.
14.Two or more persons also can join
together and bid but they should declare their specific shares at the time of
auction. In the absence it will be deemed they have equal shares. Only one sale
certificate will be issued in case of immovable property in their joint names.
If the names & shares are mentioned, such persons get right for that share in
the property.
15. The Inspector/ MSTC
conducting the auction will collect Rs.2.64 Lakhs pre
bid EMD amount from all the bidders who are taking part in the auction. The
deposit amount in the case of the successful bidder will be adjusted towards the
bid amount, In the case of unsuccessful bidders, the deposit amount will be
returned at the close of the auction.
16.All the bidders
should note that in case the full amount of arrears due for which the
proclamation of sale has been given is paid before the conclusion of the
auction, the auction will automatically become cancelled. On no account the
bidders can claim any costs, expenses or other compensation for their having
attended and participated in the auction. Similarly, in case there is any stay
from any authority including the Court, the auction will be postponed or
cancelled without any further notice and the persons participating in the
auction cannot claim any damages etc., for such postponement. Prior intimation
will be given to MSTC Ltd regarding postponement or cancellation.
17.Presence in the auction or participation online auction process in the bid
shall be deemed to be an acceptance of the conditions specified here.
18 The
Inspector/MSTC conducting the auction reserves the right to prevent any
individual from participating in the bid if he is satisfied that such an
individuals presence may impede the progress of the auction.
Further Terms
& Conditions of sale by Public Auction of Immovable Property (For General Terms
& Conditions see Separate Sheet)
1. Officer in Charge at EPFO Mr.V.Sudheer, Enforcement Officer (M.No: 7013364300)
2. Contact Person (MSTC): Mr.SIDDHARTH VARADI, DM, Mobile No. 040-23301049/9515076275 email id: svaradi@mstcindia.co.in.
3. 25% of the
purchase price should be paid to the Inspector/MSTC conducting the auction as
soon as the auction is knocked down and in default of payment the property will
be again put up for auction.(This condition may be suitably modified as per
e-Auction system of MSTC to read as within 2 days).
4.
The balance of 75% of the amount together with poundage fees shall be paid to
EPFO or before 15th day from the date of the sale. Under no circumstances, this
time of 15 days can be extended by any authority. If the amount is not so paid
then out of the 25% of the amount paid the costs of the auction will be deducted
and the balance may be forfeited to the Government according to the discretion
of the Recovery Officer, EPFO.
5. The sale of immovable
property will be confirmed after payment of full purchase price and only on the
confirmation of the sale by Recovery Officer it becomes absolute.
6. For any reason if the sale is not confirmed
but is set aside subject to the provisions of the Second Schedule to the
Income-tax Act, 1961, then the entire purchase money paid will be refunded to
the highest bidder together with interest at such rate as will be allowed by the
Recovery Officer, EPFO. Bidders participating in the auction cannot claim any
damages etc., for such setting aside.
7. Sale of immovable property will be
confirmed after 30 days of auction date and subject to payment of full bid
amount. After the confirmation of the sale of immovable property, a certificate
in form E.P.F.C.P. 20 will be issued. The original of this sale certificate is
liable for stamp duty and is to be forwarded to the sub-Registrar. These charges
(which may be vary from State to State) are to be borne by the successful
bidder.
8. After confirmation of the sale and after the
issue of the sale certificate the delivery of the immovable property will be
made by a beat of tom tom at the locality announcing that from the date of the
sale it has become absolute and the successful bidder has become owner of the
property.
9. In case the property is occupied by
any tenant then tenant cannot be evicted by this office. However, an order will
be made declaring the successful bidder as the owner of the property from the
date the sale has become absolute and a copy of it will be served and affixed on
the property and the proclamation will be made by beat of tom tom. The tenant
will automatically become the tenant of the new successful bidder and from the
date of purchase the new successful bidder desires to evict the tenant he has to
take recourse by himself in accordance with law by approaching the rent
controller or other authority. The position regarding the lessee of agricultural
lands also is exactly same.
10. In case the property is occupied by the
defaulter himself or any other person on his behalf who is not a tenant then the
successful bidder is at liberty to go and take possession of the property.
However, if any resistance is offered either by the defaulter or any person on
his behalf, if an application is made by the successful bidder under Rule 39 of
the Income tax Certificate Proceedings Rules, 1962, then efforts will be taken
to put the successful bidder in the possession of the property and if need by
removing the defaulter or any other person on his behalf who is obstructing the
possession of the property.
11. In case of agricultural lands, if there are
any standing crops on the lands the land is sold without any right for the
standing crops. The standing crops will continue to belong to the person or
persons who are the owners thereof in whatever capacity it may be. The
successful bidder of the land should give access to such owners to render all
such operations which are required to ripen the crops and should also give free
access to such owners for cutting the crops and removing them after they are fit
for harvest.
12.Recovery Officer has absolute right to accept or reject a
bid or to postpone/cancel the notified auction-sale without assigning any reason
and in case of any dispute the decision of Recovery Officer shall be final.