Registered Office : 201/202A, Building No. 2, Solitaire Corporate Park, Andheri Ghatkopar Link Road, Andheri (East), Mumbai – 400093 and office at 922B, Hemkunt Chambers, 89, Nehru Place, New Delhi- 110 019.

PUBLIC NOTICE FOR SALE OF IMMOVABLE PROPERTIES under rule 8(5) & 8(6) of Security Interest ( Enforcement ) Rules , 2002

ASREC (India) Ltd. ( hereinafter referred to as ASREC) is registered with the Reserve Bank of India as a Securitisation and Asset Reconstruction Company pursuant to Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( SARFAESI Act.). ASREC has acquired the secured Debt due and payable by M/s. Ashirwad Distributor & M/s Sri Sai Distributorsarising out of the facilities along with all its rights, title and interest in the Financing Documents and any underlying security interest, pledges and/or guarantees from Allahabad Bank , the Original Lender, Vide Assignment Agreement dated 26thMarch 2010.

The Authorized Officer of ASREC exercise of powers conferred under the SARFAESI Act. and Security Interest (Enforcement) Rules, 2002, has decided to sell the following immovable properties.

The secured assets, as mentioned here-in- below, are to be sold on “AS IS WHERE IS” and “AS IS WHAT IS” and “no recourse” basis.The borrower in particular and the public in general is hereby cautioned not to deal with the under mentioned property/ assets in whatsoever manner and any dealings with the property will be subject to the charge of ASREC (INDIA) LIMITED.. The undersigned being the Authorized Officer of “ASREC” hereby invites tenders in sealed cover from intending purchasers/Bidders for purchase of the secured assets described here in below under rule 8 & 9 of the Security Interest (Enforcement) Rules. 2002:

Name of the account/ borrower/mortgagor;
Amount Due / Description of the Property / Date of Taking Possession / Reserve
Price
(Rs. in Lac) / E.M.D.
(Rs. in
Lac)
1) M/s Asirwad Distributor 2) Sh. Mohit Sethi, 3) Smt. Prem Lata Sethi, 4) S.Rohit Rai Sethi:
Rs.7,65,63,935.29 (Rupees Seven Crore Sixty Five Lakh Sixty Three Thousand Nine Hundred Thirty Five and paise Twenty Nine) with further interest from 01.01.2012 @ 12 % p.a / All that part and parcel of property -part of Khasra No. 155, 222,160,141, 142,144, 145, 148, 159, 161, 136, 137, 138, 146, 147/1,147/2, 228, 342 & 483 and 150 & 151, 152/1,152/2 having area 4370.59 Sq. ft. at Vill. Kamalabad Badoli, Pargana – Mahona, Tehsil : Bakshi –ka- Talab, Distt. Lucknow U.P. in the name of Mr. Mohit Sethi bounded as under:
East: Sitapur Road West: Land of Samiti
North : Land of Samiti South : Petrol Pump / 09/04/2012 / 32.78 / 3.28
1) M/s Sri Sai Distributor 2) Sh. Mohit Sethi, 3) Smt. Prem Lata Sethi, 4) S.Rohit Rai Sethi: Rs.2,54,61,779.85 (Rupees Two Crore Fifty Four Lakh Sixty One Thousand Seven Hundred Seventy Nine and paise Eighty Five) with further interest from 01.01.2012 @ 12 % p.a. / All that part & parcel of property part of kharsa No. 155, 222, 160, 141, 142, 144, 145, 148, 159, 161, 136, 137, 138,146, 147/1, 147/2, 228, 342 & 483 and 150 & 151, 152/1, 152/2 having area 31,500 Sq. ft. at Vill. Kamalabad Badoli , Paragana - Mahona, Tehsil – Bakashi – Ka- Talab Distt. Lucknow in the name of Mr. Mohit Sethi bounded as under:
East : 25 ft. Wide Road
West : Plot No. 1 & property deegar
North : Plot No. 23,24, 25
South : Land of Samiti / 09/04/2012 / 118.13 / 11.82
1) M/s Ashirwad Distributors, 2)M/s Sri Sai Distributor 3) Sh. Mohit Sethi, 4) Smt. Prem Lata Sethi, 5)Rohit Rai Sethi: / All that part and parcel of land being ¼ th share in Khasra No. 150 ( 0-16-2) at Vill. Uttaradhauna ( Tarakpurwa), Pargana, Tehsil & Distt. Lucknow , Land measuring 4 Biswa 0.5 Biswansi ( 5479 Sq. ft.), in the name of Mr. Rohit Sethi ( This property is jointly mortgaged in the accounts of M/s Ashirwad Distributors and M/s Sri sai Distributors) / 09/04/2012 / 16.44 / 1.65

The date for inspection of the immovable properties is fixed on 01.06.2012 from 11.00 a.m. to 5.00 p.m.Parties interested for inspection may contact Mr. Amit Bhardwaj , M/s Bhardwaj Recovery Agency, F-1908, Rajajipuram, Lucknow- 226017, ( Mob. 09415020549 & 09628674055 ) Offers /tender in sealed cover should reach either of the below mentioned addresses on or before 28.06.2012 by 3.00 PM : i)ASREC ( India) Ltd., 922B, Hemkunt Chambers, 89, Nehru Place, New Delhi-110019ii) M/s Bhardwaj Reovery Agency , F-1908, Rajajipuram, Lucknow- 226017,The Offers/tenders received by ASREC, shall be opened by the Authorised Officer at Camp Office Lucknow at Hotel Saubhagya Inn, 31-A, Station Road, Lucknow – 226001 at 11.00AM on 29.06.2012 wherein inter-se bidding, maybe allowed.

TERMS AND CONDITIONS OF SALE

1.The premises is being sold on an “AS IS WHERE IS” and “AS IS WHAT IS” basis.

2.The sale is strictly on a no recourse basis.

3.The aforesaid secured assets shall not be sold below the reserve price mentioned above and the sale is subject to the confirmation by ASREC. Interested parties may send/submit their offers for purchase of the said assets in sealed cover super scribing “offer for purchase of property of M/s. Ashirwad Distributors/ M/s Sri Sai Distributors along with earnest money deposit mentioned here in above by way of Demand Draft payable at Delhi favoring “ASREC (India) Ltd.” which is refundable without interest, if the bid/tender is not successful. Offers should reach us latest by the date & address mentioned above. Offers without EMD will not be accepted. Tender Form shall be available and other terms and conditions along with relevant particulars are available on our website, i.e.., or from ASREC (India) Ltd., at above address or from M/s. Bhardwaj Recovery Agency , F-1908, Rajajipuram, Lucknow (M) : 09415020549 Interested parties may also contact Mr. S.P. Roychowdhury at 9811327730, 011-41077078.

4.On compliance of the terms of sale, Authorized Officer shall issue Certificate of Sale in favour of the successful Bidder/Purchaser. However, the Authorized Officer has the absolute right to accept or reject any tender/bid or adjourn/ postpone the sale without assigning any reason thereof.

5.Transfer fees, unpaid electricity charges, Municipal taxes, sales tax, Stamp duty & registration charges shall have to be borne by the purchaser separately.

6.Encumbrances known to the creditor/Bank: Nil

7.The successful bidder shall pay Initial Deposit being 25% of the sale price amount within 48 hours of the sale being confirmed in his/her/its favour after adjusting EMD as part payment and the balance amount within 15 days without giving any notice. Amount of EMD and /or initial Deposit as above shall be forfeited on failure to pay the amount mentioned above.

8.All payments shall be made by Demand Draft / Banker's Cheque drawn in favour of “ASREC (India) Ltd.” payable at Delhi.

9.Proof of identification (KYC) viz.copy of Voter ID Card/PAN Card/Driving License etc. should be attached by all the bidders along with the letter of offer/bid.

Sd/- Authorised Officer,

Date : 18.05.2012 ASREC (India) Ltd.