THE SOUTH INDIAN BANK LTD.

REGD. OFFICE: THRISSUR

REGIONAL OFFICE: No.1, Sterling Road, Nungambakkam, Chennai – 600 034 TELEPHONE Nos. (044) 28238250, 28281109,28271075 FAX No: (044) 28232014

E-MAIL:

NOTICE FOR SALE OF IMMOVABLE PROPERTY ISSUED UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 r/w SECURITY INTEREST (ENFORCEMENT) RULES, 2002

To

1)  Mr. P. MOORTHY, 2/235, Andersonpet, Ammanur Post, Arakonam.

2)  Mrs. M. SARADHA, 2/235, Andersonpet, Ammanur Post, Arakonam.

3)  Mr. R. ARULARASU, 9, Nehru Street, Charlse Nagar, Pattabiram, Chennai – 72.

(Hereinafter collectively referred to as “Borrowers”)

WHEREAS the Mount Road branch of The South Indian Bank Limited had extended certain loans/credit facilities in the account of Mr. P. Moorthy. Mr. P. Moorthy (hereinafter referred to as “Mortgagor”) had created mortgage by deposit of title deeds of his immovable properties more fully described in the schedule hereunder.

AND WHEREAS Demand Notices dated 23.02.2007 was issued to the Borrowers and Mortgagor under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘The Act’) calling upon them to pay a total sum of Rs. 5,23,416.00 (Rupees Five Lacs Twenty Three Thousand Four Hundred and Sixteen only) due to the bank with subsequent interest within 60 days.

AND WHEREAS, the Borrowers having failed to repay the amount within the stipulated time, the undersigned has taken possession of the immovable properties, more fully described in the schedules hereunder under Section 13(4) of the Act read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 on 21.07.2008 by issuing Notice to the Borrowers and general public and publication thereof in news papers as contemplated under the said Act and Rules.

Since the Borrowers and Mortgagor have neglected to pay the amount, Notice is hereby given to the Borrowers and public in general that the immovable properties more fully described in the Schedules hereunder will be sold in public auction on “AS IS WHERE IS BASIS” on the date and at the place mentioned herein below subject to the following terms and conditions: -

DESCRIPTION OF IMMOVABLE PROPERTY

Registration District of Kancheepuram, Sub – Registration District of Tiruvallur, Tiruvallur District, Tiruvallur Taluk, No. 58 Tirupachur Village, Thirumurugan Nagar, under Survey No. 327/5A2B Part, 327/5A2C Part, 327/5A2A1C, 327/3, 332/2 divided into plots, approved lay out No. DTC. No.221/2002, in this Plot No. 12 having an extent of 1620 Sq.ft with semi finished building bounded on:

North by : Plot No.11 Excess Land

South by : Plot No.12 Excess land

East by : Sy. No. 327/5A2B

West by : 23 feet Road

Between This

North South on the Eastern Side : 27 feet

Western Side : 27 feet

East West on the Northern Side : 60 feet

Southern Side : 60 feet

Totally 1620 Sq.ft under Plot No.12

Place of Auction / : / The South Indian Bank Ltd., Staff Training Centre, Kences Towers, No.1,
Ramakrishna Road, North Usman Road, T. Nager, Chennai – 600 017
Date of Auction / : / 21.01.2009
Time of Auction / : / 12.30 P.M.
Reserve Price / : / Rs.5,55,000.00 (Rupees Five Lacs Fifty Five Thousand Only)

TERMS AND CONDITIONS

1)  The intending bidder can inspect the property on 20.01.2009.

2)  The intending bidder should pay 10 % of the Reserve Price shown above, as EMD, by means of a Demand Draft favouring The South Indian Bank Ltd., on or before 10.30 AM on the auction date.

3)  The Successful bidder should pay 25 % of the bid amount (less EMD) immediately on sale being knocked down in his favour and the balance money within 15 days.

4)  To the best of the knowledge of the Authorised Officer there is no charge/encumbrance on the Schedule property.

5)  The successful bidder will have to meet all the expenses relating to stamping, registration and other expenses and encumbrances unknown to the Authorised Officer.

6)  The Bank will not be held responsible for any charge, lien, encumbrance, property tax or any dues to the Government or anybody in respect of the properties under sale.

7)  The Authorised Officer has the absolute right to accept or reject a bid or postpone/cancel the sale.

Sd/-

Place : CHENNAI

Date : 04.12.2008 AUTHORISED OFFICER

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