M/s. LIC Housing Finance Ltd. Address- As per Paper Publication. Date of Auction:- As per Publication Timings:- As per Publication

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1 TENDER DOCUMENT FOR E-AUCTION Whereas LIC Housing Finance Ltd. (herein after referred as LICHFL) acting through its Authorized Officer, in exercise of its power under the Securitization Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 and Rules there under has decided to sell through e-auction the properties mentioned in ANNEXURE-A for realization of the secured debts due to LICHFL with up to date Interest & expenses under SARFAESI Act,2002. The sale shall be subject to the conditions prescribed in the Security Interest (Enforcement) Rules 2002 and to the following further conditions: Auctioneer Name Auction to be Conducted by Auction Schedule M/s. LIC Housing Finance Ltd. Address- As per Paper Publication M/s. MSTC Ltd Western Regional Office, 607, Raheja Centre, Nariman Point, Mumbai (Phone numbers: / extn 18) Date of Auction:- As per Publication Timings:- As per Publication Auction Website :- Annexure Please refer sale notice for number of extensions. Note: if the extensions are not available in the sale notice,it will be considered as Unlimited extensions of 8 minutes. 1) Terms & conditions of e-auction 2) Declaration by Bidder(Annexure II) INSTRUCTION: This document is required to be duly filled in and signed by the bidder and thereafter sent to aowro@lichousing.com after submission of the bid. 3) Confirmation by Bidder Regarding Receipt of Awareness (Annexure III) INSTRUCTION: This document is required to be duly filled in and signed by the bidder and thereafter send the scanned copy of that to the Authorized Officer, LICHFL mentioned in the Sale Notice just after availing awareness on e-auction to aowro@lichousing.com C Bidding in the last minutes and or seconds should be avoided in the bidders own interest. Neither the MSTC nor LICHFL will be responsible for any lapses/failure on the part of the Bidder, in such cases. 1

2 Annexure -1 E-Auction bidding Terms and Conditions 1. Computerized E-Auction shall be conducted by service provider M/s MSTC Ltd on behalf of LIC Housing Finance Ltd on pre-specified date & time, while bidder shall be quoting from their own offices/place of their choice. Internet connectivity and other paraphernalia requirements shall have to be ensured by bidders themselves. Please note that the failure of internet connectivity (due to any reason whats-over it may be) shall be sole responsibility of bidders and neither LICHFL nor MSTC Ltd would be responsible for these unforeseen circumstances. LICHFL/MSTC Ltd shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the cause. 2. Bidders should get acquainted with MSTC s e-auction portal, bidding process and e-auction rules. Also, if bidders face any problem then they should get it solved prior to the e-auction. Bidders are requested to go through the latest version of e-auction catalogue available on prior to participate in the e-auction as it will be assumed that buyer(s) have gone through the terms and conditions mentioned in the catalogue and are agreeing to same prior to make their offer. The norms of Information Technology Act on all these matters will be applicable. 3. Material for bid: Sale of property by LIC Housing Finance Ltd under SARFAESI Act, 2002 and rules there under. 4. Type of Auction: E-Auction. 5. Bidding Currency : Indian Rupees 6. Starting/Reserve Price: the opening price of the auction shall be available to the bidders on their bidding screen. 7. Bid Price: The Bidder has to quote the total price (Exclusive of taxes and duties). 8. Bid Increment Value: The minimum amount by which the bid is to be increased by the bidders (The bidders can increase the bid amount in the multiples of the bid increment value also). 9. Procedure of e Auction : Online E-Auction: LICHFL will declare the Starting/Reserve Price which shall be visible to all the bidders during the start of the e-auction. Please note that the starting price of the item, in on line e-auction is open to all the participating bidders. Any bidder can start bidding in the online E-Auction, from the start price itself. Hence, the first online bid that comes in the system during the online E-Auction can be equal to the auction start price or higher than auction s start price by one bid increment value or higher than the auction s start process by multiples of bid increment value. The second on line bid and onwards will have to be higher than H1 rate by one bid increment value or higher than H1 rate by multiples of the bid increment value. Bid increment value has been fixed in respect of the property which the bidders can view on their bidding screen and if the bidder places a bid in the last 8 minutes of closing of the e-auction and if the 2

3 bid gets accepted then the auction duration shall automatically get extended for some minutes (refer sale notice) from the time that bid comes in. Please note that the auto extension shall be limited /unlimited times (as given in the sale notice) and will take place only if a valid bid comes in last eight minutes. In case, there is no bid in the last 8 minutes of closing of E-Auction, the auction shall get closed automatically without extension. However the bidders are requested to not wait till the last moment to quote their bids to avoid complication related to internet connectivity, network, system crash down, power failure etc. 10. The bid once submitted by you cannot be cancelled/withdrawn and the bidder shall be bound to buy the property at the final price. The failure on the part of bidder to comply with any of the terms and condition of the e-auction notice and tender document will result in forfeiture of the amount paid by the defaulting bidder. 11. Bidder will be able to view the following on the screen along with the necessary fields in the E-Auction: a) Leading Bid in the Auction (Highest Rate- H1) b) Bid place by bidder c) Opening Price and Bid Increment Value d) the Bid rank of bidder in the auction. 12. The decision of LICHFL regarding the declaration of successful bidder shall be final and binding on all the bidders. 13. The LICHFL shall be at liberty to cancel the E-auction process at any time before declaring the successful bidder without assigning any reason. 14. Duration of auction: The auction of property is schedule to be conducted on date and time as specified in the auction notice published in the newspaper and soft copy enclosed as Annexure A below. The bidders are cautioned not to wait till last minute or last few seconds to enter their bid to avoid complications related to internet connectivity, network problems, system crash down, power failure etc. 15. Successful bidder: At the end of the E-auction, System will evaluate all the bids submitted and will H1 Bidder will be declared. However LICHFL s reserves the right to accept the same which be final and binding on all the bidders. 3

4 Terms & Conditions for Sale of Property (ies) i) The E-Auction is being held on AS IS WHERE IS and AS IS WHAT IS BASIS. ii) iii) iv) To the best of knowledge and information of the Authorized officer, certain flats have been excluded from sale. (The details of which are given in Annexure-A). It has come to the knowledge of Authorized Officer that there are about approximately 30 AOS registered with Sub-Registrar in breach of the terms of Loan Agreement/Mortgage Documents which includes SA/MA are pending in Tribunal/Courts, Mumbai. Apart from the above the intending bidders should make their own independent enquiries regarding the other encumbrances, title of property/ies put on auction and claims/rights/dues effecting the property, prior to submitting their bid. The auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of the LICHFL. The property is being sold with all the existing encumbrances whether known or unknown to the LICHFL. The Authorized Officer/Secured Creditor shall not be responsible in any way for any third party claims/rights/dues. It shall be the responsibility of the bidders to inspect and satisfy themselves about the assets, specification, area, FSI, measurement, dues, liabilities and make necessary enquires with the revenue authorities /ROC/MCA/court/Sub-Registrar before submitting the bid. The bidders shall be deemed to have bid for the property with full knowledge and subject to reservation, if any, in the Master Plan/Development Plan or Draft/Modified Development Plan or any Town Planning Scheme effecting the secured property. v) The particulars specified in the auction notice published in the newspapers and annexed herein below as ANNEXURE-A, have been stated to the best of the information of the Authorized officer; however Authorized officer shall not be responsible/liable for any error, misstatement or omission. vi) vii) The inspection of property put on auction will be permitted to interested bidders at sites on the day and time mentioned in the public notice annexed as ANNEXURE-A. The EMD is required to be deposited in the MSTC Ltd account within the stipulated date and time as per the details mentioned in the auction notice. For payment mode, intended bidders are required to go through the attached auction notice. *Please refer the payment mode for the remittance of EMD amount to the concerned account given under the sale notice advertisement released in the newspaper which is annexed herewith as ANNEXURE-A and register their name at and get awareness on e-auction from our service provider, M/s MSTC Ltd. by contacting on Helpline No.022/ , and ID: viii) ix) After Registration of bidders in the web-site as mentioned in para (vii) above, the intending purchaser/ bidder is required to get the attested copies of following documents uploaded in before last date of submission of the bid(s) (as mentioned in the public auction notice published in the newspapers and copy of which is attached below as ANNEXURE-A ) and the original of which shall be produced on demand by Authorized Officer. 1. Copy of the NEFT/RTGS challan; 2. Copy of PAN card/tan Card; 3. Proof of identification (KYC) viz. attested copy of Voter ID Card/ Driving License/ Passport etc. 4. Copy of proof of address, without which the bid is liable to be rejected. 5. In case of Company the necessary resolution authorizing the director/bidder to act on its behalf and to place and increase/improve the bid amount for purchase of the secured asset. In case of LLP/Partnership firm/aop the necessary resolution/authorization by the partners/poa/members should be placed for purchase/increase of bid for secured asset. The e-auction will take place through web portal on the time and date specified in the e-auction notice published in the newspaper and as per ANNEXURE-A attached herewith. x) In case bidder, bids for more than one property, he will have to submit separate EMD amount for each property and also upload in website separate documents as per para (vii) above for each property along with the bid amount. xi) xii) Interested bidders are required to submit Earnest Money Deposit (EMD) equal to 10% of the Reserve Price, by RTGS/NEFT/Demand Draft at least one day before the date of e-auction. Only those bidders will be allowed to participate in E-Auction whose EMD is received within the stipulated time which please be noted. The property shall not be sold below the reserve price. The conditional bids would be treated as invalid. Please note that after submission of the bid/s, no correspondence regarding any change in the bid shall be entertained. 4

5 xiii) xiv) xv) The auction is by way of inter-se bidding amongst the bidders and the bidders shall increase the bid amount in the multiple of amount mentioned against each property under column Bid Increment Amount in ANNEXURE-A. The inter-se bidding amongst the bidders shall commence online exactly on the date & time specified in the public notice annexed as Annexure A The EMD of unsuccessful bidders will be refunded to their respective A/c No. shared in e-auction Portal ( online where the EMD is remitted by way of RTGS/NEFT otherwise the same needs to be collected from office of MSTC Ltd. with proper authorizations. The bidders will not be entitled to claim any damages,interest, costs, expenses and any other charges (if any). The Authorized Officer is not bound to accept the highest offer and the Authorized Officer has absolute right to accept or reject any or all offer(s) or adjourn/postpone/cancel the auction without assigning any reason thereof. The sale is subject to confirmation by the secured creditor. xvi) xvii) In case of a sole bidder, the bid amount quoted must be improved by at least 1 bid incremental amount (as specified in the e-auction terms and conditions) if the bid is of reserve price. The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale consideration. The EMD will not bear any interest. The Successful bidder on acceptance of bid price by the Authorized Officer, shall immediately i.e. on the same day or not later than next working day as the case may be, pay 25% (twenty five percent ) of the amount of the sale proceeds which is inclusive of EMD, to the Authorized Officer. The balance 75% of the sale price is payable on or before 15th day of confirmation of the sale by the Authorized officer or such extended period as per SARFAESI rules. In case of failure to deposit any of the balance amount within prescribed period, the amount deposited by the defaulting bidder shall be forfeited and the defaulting bidder shall neither have claim on any part of the sum nor the property for which it may be subsequently sold. xviii) xix) xx) xxi) xxii) xxiii) xxiv) The successful bidder shall bear all the necessary expenses like applicable stamp duties/additional stamp duty/transfer charges, Registration expenses, fees etc. for transfer of the property in his/her name. Successful bidders will also have to obtain necessary permission/consent from statutory authorities including civic authorities with regard to construction/occupation of the building premises. The successful bidders shall be responsible for all liabilities (on property under sale and/ or on purchaser) arising out of present or future litigation, if any. LICHFL is not liable to pay any interest /refund of EMD in case of any delay in issue of confirmation of sale/sale Certificate by virtue of any Court order passed/received after e-auction is held. In case of any exclusion of units or stay by any court/tribunal, LICHFL/MSTC Ltd shall not be liable to pay. The successful bidders shall not be entitled to claim any damages/interest/compensation/cost for such cancellation or postponement or delay and if sale is set aside or stayed, the successful bidder will be entitled only for refund of EMD/Purchase price paid as the case may be. The payment of all outstanding (if any) or future statutory/non statutory dues, taxes, rates, assessments, charges, fees, penalties etc. owing to anybody shall be the sole responsibility of successful bidder only and necessary enquires should be made prior to submission of bids. In case of any dispute arises as to the validity of the bid(s), amount of bid, EMD or as to the eligibility of the bidder, authority of the person representing the bidder, the interpretation and decision of the LICHFL shall be final. In such an eventuality, the LICHFL shall in its sole discretion be entitled to call off the sale and put the property to sale once again on any date and at such time as may be decided by the LICHFL. The sale certificate shall be issued on the receipt of entire sale consideration and confirmation of sale by secured creditor. The sale certificate shall be issued by Authorized Officer in the same name only in which the offer is submitted. Other Terms & Conditions for Sale of Property (ies) - The Bidder shall not involve himself or any of his representatives in Price manipulation of any kind directly or indirectly by communicating with other bidders. - The Bidder shall not divulge either his Bids or any other exclusive details of LICHFL or to any other party. - The decision of LICHFL declaration of successful bidder shall be final and binding on all the Bidders. - M/s MSTC Ltd / LICHFL shall not have any liability to Bidders for any interruption or delay in access to the site irrespective of the cause. 5

6 ANNEXURE-A Details of the immoveable Asset for Sale : PUBLIC NOTICE FOR SALE OF SECURED ASSETS & IMMOVABLE PROPERTY known as Orbit Residency Park THROUGH E-AUCTION UNDER SARFAESI ACT, 2002 and Rules there under. The Authorized Officer of LIC Housing Finance Limited (LICHFL), has taken possession of the following property under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI Act) and the Authorized Officer hereby invites bids from the General Public for purchase of the below mentioned Immovable Secured Asset through e-auction under the SARFAESI Act and the Rules made thereunder on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS for realization of outstanding dues of : Name & Address of the Borrower Name & Addresses of the Guarantors Amount Due Date of Demand Notice & Date of Physical Possession Tender Number M/s. ORBIT CORPORATION LTD. The View, 1st Floor, 165, Dr. Annie Besant Road, Worli, Mumbai MR. PUJIT R. AGARWAL (Guarantor & Director of M/s. ORBIT CORPORATION LTD.& M/s. Ahinsa Buildtech Pvt. Ltd.) 901, The Angel, 2, Krishna Sanghi Marg, Gamdevi, Mumbai MR. RAVIKIRAN S. AGARWAL (Guarantor & Director of M/s. ORBIT CORPORATION LTD. & M/s. Ahinsa Buildtech Pvt. Ltd.) 901, The Angel, 2, Krishna Sanghi Marg, Gamdevi, Mumbai Rs. 95,50,31, (Rupees Ninety Five Crore Fifty Lakhs Thirty One Thousand Eighty Three and Twenty Five Paise Only) as on with further interest thereon@16% p.a. with costs and charges. Demand Notice dated Physical Possession taken on MSTC/WRO/LIC Housing Finance Ltd/1/4 th floor Jeevan Prakash/17-18/183 DESCRIPTION OF IMMOVABLE ASSET (Scheduled Premises) All the property and parcels of land admeasuring 9082 sq.meters together with structures thereon known as Orbit Residency Park situated on CTS No. 733, 733/1 to 3,6 &11,742 corresponding to Survey no. 51,Hissa no 9 & 11, Hissa no 8,9,10,12,13(P) and Survey No 30,Hissa no 1(P) of Village Mohili, Taluka Kurla, Ward no 39/30, Orkay Mills Compound, Kurla- Andheri Road, Near Saki Naka Junction, Opp. Akruti Orchid Park, Andheri (East), Mumbai List Known Encumbrances: A-Wing:101,102,201,202,203,301,302,401,402,403,501,502,503,504,601,602,604,701,702,704,705,801,802,803, 901,902,905,1001,1002,1101,1102,1201,1202. B-Wing:202,203,204,301,302,304,401,402,403,404,501,502,503,504,601,602,604,701,702,703,801,802,803, 901,902,903,904,1001,1002,1003,1004, 1101,1102, 1104,1201,1202,1203,1302, 1303 C-Wing 101,102,103,104,201,202,203,204,301,302,304,401,402,403,501,502,503,504,601,602,603,604,701,702, 704,801,802,803,804,902,903,904,1001,1002,1003,1004,1101,1102,1103,1104,1114, 1201,1202,1203,1204,1301,1302,1303, 1304 D-Wing 101, 103, 104,201,202,203, 204,301,302,303,304,401,402,403, 404,501,502,503,504,601,602,603, 604,701,702,703,704,801,802,804,901,902,903,1001,1002,1003,1004,1101,1102,1103,1104, 1201, 1202, 1203,1204,1301,1302. E-Wing 301,402, 403,701,702, 803,902, 1001,1002, 1003,

7 F wing : 405,604, 1101 E- Auction Website Date & Time 0f E-Auction : noon Reserve price Rs.1,25,00,00,000/- (One Hundred &Twenty Five Crores only) EMD (Earnest Money 10% of the Reserve Price i.e. Rs.12,50,00,000/- (Twelve Crore Fifty Lacs only) Deposit) EMD Remittance By way of demand draft in favour of MSTC Ltd drawn on any nationalized or scheduled bank payable at Mumbai on or before date and time mentioned above or transfer by way of NEFT/RTGS in the account of MSTC Ltd Account no: and IFSC Code YESB ; Bank & Branch: Yes Bank, Dalhousie, Kolkata. Bid Increment Amount INR 1,00,000/- (One Lac only) Date & Time for submission Submission one day before the date of e-auction given herein. of EMD & KYC Documents Dates for inspection of 12/04/2017 Time 11 am to 4 pm & 26 /04/2017 Time 11am to 4 pm property Terms and Conditions: 1) E-auction is being held on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS and will be conducted online. The e-auction will be of immovable property described above with structures and building. 2) The above mentioned property will be sold under e-auction through the LICHFL s approved service provider MSTC Ltd. 3) The e-auction Tender Document containing e-auction Bid Application Form, Declaration, registration with the e-platform, obtaining digital signatures, general terms and conditions of online auction sale are available on web portal: Details of the said public e-auction can also be accessed from the website: 4) The property is sold on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS. The bidders should make their own independent enquiries and get satisfied regarding ownership, title of the property, encumbrances, measurements, charges penalties or statutory dues such as electricity dues, property taxes and any other dues etc. with respect to the property put on auction and also all claims/rights/dues affecting the property, prior to submitting their bids. All outstanding statutory dues/penalties (if any) are to be paid by the successful bidder only. 5) The Authorized Officer of LICHFL reserves the right to reject any or all the offers/tenders/bids without assigning any reason or shall have the right to cancel e-auction. The Authorized Officer of LICHFL also reserves the right to modify any terms and conditions of the e-auction/sale at his discretion without prior notice. 6) The e-auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation on part of LICHFL. This property is being sold with all the existing and future encumbrances whether known or unknown to Authorized Officer, LICHFL. The Authorized Officer/ LICHFL shall not be responsible in any way for any third party claims/rights/dues. 7) Persons who are interested to participate in multiple properties should submit separate EMD for each case. 8) The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale consideration. The EMD will not bear any interest. The Successful bidder on acceptance of bid price by the Authorized Officer, shall immediately i.e. on the same day or not later than next working day as the case may be, pay 25% (twenty five percent ) of the amount of the sale proceeds which is inclusive of EMD, to the Authorized Officer. The balance 75% of the sale price is payable on or before 15th day of confirmation of the sale by the Authorized officer or such extended period as per SARFAESI rules. In case of failure to deposit any of the balance amount within prescribed period, the amount deposited by the defaulting bidder shall be forfeited and the defaulting bidder shall neither have claim on any part of the sum nor the property for which it may be subsequently sold. 9) No conditional Bid will be accepted. All bidders will have to comply with KYC norms and following documents are to be uploaded 1) copy of DD/Payorder/NEFT/RTGS Challan, 2)Copy of Pan Card 3) copy of Adhar Card/Driving License/Passport d)board Resolution / POA/ Authority letter etc. on the website before or by the last date of submission of the EMD as mentioned above. 10) Successful bidder shall bear all expenses related to legal/incidental expenses like Stamp duty, registration fees, taxes, statutory fees etc. related to this property as applicable. 11) The sale shall subject to the rules/ conditions prescribed under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and its Rules. Other terms and conditions of e-auction sale as well as tender documents are available on the following website: 12) The intending bidders interested in participating in e-auction should complete registration formalities with MSTC Ltd. 13) This is also a notice to the Official Liquidator/borrower/mortgagor/guarantors referred above under 8(6) of Security Interest (enforcement) rules 2002 on e-auction sale of the Immovable Secured Asset on the above mentioned date. Date : Place: Mumbai Authorized Officer LIC Housing Finance Ltd 7

8 TENDER DOCUMENT FOR E-AUCTION Whereas LIC Housing Finance Ltd. (herein after referred as LICHFL) acting through its Authorized Officer, in exercise of its power under Securitization Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 and Rules there under has decided to sell through e-auction the properties mentioned in ANNEXURE-B for realization of the secured debts due to LICHFL with up to date Interest & expenses under SARFAESI Act,2002. The sale shall be subject to the conditions prescribed in the Security Interest (Enforcement) Rules 2002 and to the following further conditions: Auctioneer Name Auction to be Conducted by Auction Schedule M/s. LIC Housing Finance Ltd. Address- As per Paper Publication M/s. MSTC Ltd Western Regional Office, 607, Raheja Centre, Nariman Point, Mumbai (Phone numbers: / extn 18) Date of Auction:- As per Publication Timings:- As per Publication Auction Website :- Annexure Please refer sale notice for number of extensions. Note: if the extensions are not available in the sale notice,it will be considered as Unlimited extensions of 8 minutes. 1) Terms & conditions of e-auction 2) Declaration by Bidder(Annexure II) INSTRUCTION: This document is required to be duly filled in and signed by the bidder and thereafter sent to aowro@lichousing.com after submission of the bid. 3) Confirmation by Bidder Regarding Receipt of Awareness(Annexure III) INSTRUCTION: This document is required to be duly filled in and signed by the bidder and thereafter sent the scanned copy of that to the Authorized Officer, LICHFL mentioned in the Sale Notice just after availing awareness on e-auction to aowro@lichousing.com C Bidding in the last minutes and or seconds should be avoided in the bidders own interest. Neither the MSTC nor LICHFL will be responsible for any lapses/failure on the part of the Bidder, in such cases. 8

9 Annexure -1 E-Auction bidding Terms and Conditions 1) Computerized E-Auction shall be conducted by service provider M/s MSTC Ltd on behalf of LIC Housing Finance Ltd on pre-specified date & time, while bidder shall be quoting from their own offices/place of their choice. Internet connectivity and other paraphernalia requirements shall have to be ensured by bidders themselves. Please note that the failure of internet connectivity (due to any reason whats-over it may be) shall be sole responsibility of bidders and neither LICHFL nor MSTC Ltd would be responsible for these unforeseen circumstances. LICHFL/MSTC Ltd shall not have any liability towards bidders for any interruption or delay in access to the site irrespective of the cause. 2) Bidders should get acquainted with MSTC s e-auction portal, bidding process and e-auction rules. Also, if bidders face any problem then they should get it solved prior to the e-auction. Bidders are requested to go through the latest version of e-auction catalogue available on prior to participate in the e-auction as it will be assumed that buyer(s) have gone through the terms and conditions mentioned in the catalogue and are agreeing to same prior to make their offer. The norms of Information Technology Act on all these matters will be applicable. 3) Material for bid: Sale of property by LIC Housing Finance Ltd under SARFAESI Act, 2002 and rules there under. 4) Type of Auction: E-Auction. 5) Bidding Currency : Indian Rupees 6) Starting/Reserve Price: the opening price of the auction shall be available to the bidders on their bidding screen. 7) Bid Price: The Bidder has to quote the total price (Exclusive of taxes and duties). 8) Bid Increment Value: The minimum amount by which the bid is to be increased by the bidders (The bidders can increase the bid amount in the multiples of the bid increment value also). 9) Procedure of e Auction : Online E-Auction: LICHFL will declare the Starting/Reserve Price which shall be visible to all the bidders during the start of the e-auction. Please note that the starting price of the item, in on line e-auction is open to all the participating bidders. Any bidder can start bidding in the online E-Auction, from the start price itself. Hence, the first online bid that comes in the system during the online E-Auction can be equal to the auction start price or higher than auction s start price by one bid increment value or higher than the auction s start process by multiples of bid increment value. The second on line bid and onwards will have to be higher than H1 rate by one bid increment value or higher than H1 rate by multiples of the bid increment value. Bid increment value has been fixed in respect of the property which the bidders can view on their bidding screen and if the bidder places a bid in the last 8 minutes of closing of the e-auction and if the bid gets accepted then the auction duration shall automatically get extended for some minutes (refer sale notice) from the time that bid comes in. Please note that the auto extension shall be limited 9

10 1 0 /unlimited times (as given in the sale notice) and will take place only if a valid bid comes in last eight minutes. In case, there is no bid in the last 8 minutes of closing of E-Auction, the auction shall get closed automatically without extension. However the bidders are requested to not wait till the last moment to quote their bids to avoid complication related to internet connectivity, network, system crash down, power failure etc. 10) The bid once submitted by you cannot be cancelled/withdrawn and the bidder shall be bound to buy the property at the final price. The failure on the part of bidder to comply with any of the terms and condition of the e-auction notice and tender document will result in forfeiture of the amount paid by the defaulting bidder. 11) Bidder will be able to view the following on the screen along with the necessary fields in the E-Auction: a) Leading Bid in the Auction (Highest Rate- H1) b) Bid place by bidder c) Opening Price and Bid Increment Value d) the Bid rank of bidder in the auction. 12) The decision of LICHFL regarding the declaration of successful bidder shall be final and binding on all the bidders. 13) The LICHFL shall be at liberty to cancel the E-auction process at any time before declaring the successful bidder without assigning any reason. 14) Duration of auction: The auction of property is schedule to be conducted on date and time as specified in the auction notice published in the newspaper and soft copy enclosed as Annexure A below. The bidders are cautioned not to wait till last minute or last few seconds to enter their bid to avoid complications related to internet connectivity, network problems, system crash down, power failure etc. 15) Successful bidder: At the end of the E-auction, System will evaluate all the bids submitted and will H1 Bidder will be declared. However LICHFL s reserves the right to accept the same which be final and binding on all the bidders.

11 1 1 Terms & Conditions for Sale of Property (ies) i) The E-Auction is being held on AS IS WHERE IS and AS IS WHAT IS BASIS. ii) To the best of knowledge and information of the Authorized officer, certain flats have been excluded from sale. (The details of which are given in Annexure-B). It has come to the knowledge of Authorized Officer that there are about approximately 11 AOS registered with Sub-Registrar in breach of the terms of Loan Agreement/Mortgage Documents. iii) Apart from the above the intending bidders should make their own independent enquiries regarding the other encumbrances, title of property/ies put on auction and claims/rights/dues effecting the property, prior to submitting their bid. The auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation of the LICHFL. The property is being sold with all the existing encumbrances whether known or unknown to the LICHFL. The Authorized Officer/Secured Creditor shall not be responsible in any way for any third party claims/rights/dues. iv) It shall be the responsibility of the bidders to inspect and satisfy themselves about the assets, specification, area, FSI, measurement, dues, liabilities and make necessary enquires with the revenue authorities /ROC/MCA/court/Sub- Registrar before submitting the bid. The bidders shall be deemed to have bid for the property with full knowledge and subject to reservation, if any, in the Master Plan/Development Plan or Draft/Modified Development Plan or any Town Planning Scheme effecting the secured property. v) The particulars specified in the auction notice published in the newspapers and annexed herein below as ANNEXURE-B, have been stated to the best of the information of the Authorized officer; however Authorized officer shall not be responsible/liable for any error, misstatement or omission. vi) The inspection of property put on auction will be permitted to interested bidders at sites on the day and time mentioned in the public notice annexed as ANNEXURE-B. vii) The EMD is required to be deposited in the MSTC Ltd account within the stipulated date and time as per the details mentioned in the auction notice. For payment mode, intended bidders are required to go through the attached auction notice. Please refer the payment mode for the remittance of EMD amount to the concerned account given under the sale notice advertisement released in the newspaper which is annexed herewith as ANNEXURE-B and register their name at and get awareness on e-auction from our service provider, M/s MSTC Ltd. by contacting on Helpline No.022/ , and ID: vagrawal@mstcindia.co.in viii) After Registration of bidders in the web-site as mentioned in para (vii) above, the intending purchaser/ bidder is required to get the attested copies of following documents uploaded in aowro@lichousing.com before last date of submission of the bid(s) (as mentioned in the public auction notice published in the newspapers and copy of which is attached below as ANNEXURE-B ) and the original of which shall be produced on demand by Authorized Officer. a. Copy of the NEFT/RTGS challan; b. Copy of PAN card/tan Card; c. Proof of identification (KYC) viz. attested copy of Voter ID Card/ Driving License/ Passport etc. d. Copy of proof of address, without which the bid is liable to be rejected. e. In case of Company the necessary resolution authorizing the director/bidder to act on its behalf and to place and increase/improve the bid amount for purchase of the secured asset. In case of LLP/Partnership firm/aop the necessary resolution/authorization by the partners/poa/members should be placed for purchase/increase of bid for secured asset. ix) The e-auction will take place through web portal on the time and date specified in the e-auction notice published in the newspaper and as per ANNEXURE-B attached herewith. x) In case bidder, bids for more than one property, he will have to submit separate EMD amount for each property and also upload in website separate documents as per para (vii) above for each property along with the bid amount. xi) Interested bidders are required to submit Earnest Money Deposit (EMD) equal to 10% of the Reserve Price, by RTGS/NEFT/Demand Draft at least one day before the date of e-auction. Only those bidders will be allowed to participate in E-Auction whose EMD is received within the stipulated time which please be noted. The property shall not be sold below the reserve price. xii) The conditional bids would be treated as invalid. Please note that after submission of the bid/s, no correspondence regarding any change in the bid shall be entertained.

12 1 2 xiii) The auction is by way of inter-se bidding amongst the bidders and the bidders shall increase the bid amount in the multiple of amount mentioned against each property under column Bid Increment Amount in ANNEXURE-B. The inter-se bidding amongst the bidders shall commence online exactly on the date & time specified in the public notice annexed as xiv) The EMD of unsuccessful bidders will be refunded to their respective A/c No. shared in e-auction Portal ( online where the EMD is remitted by way of RTGS/NEFT otherwise the same needs to be collected from office of MSTC Ltd. with proper authorizations. The bidders will not be entitled to claim any damages,interest, costs, expenses and any other charges (if any). xv) The Authorized Officer is not bound to accept the highest offer and the Authorized Officer has absolute right to accept or reject any or all offer(s) or adjourn/postpone/cancel the auction without assigning any reason thereof. The sale is subject to confirmation by the secured creditor. xvi) In case of a sole bidder, the bid amount quoted must be improved by at least 1 bid incremental amount (as specified in the e-auction terms and conditions) if the bid is of reserve price. xvii) The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale consideration. The EMD will not bear any interest. The Successful bidder on acceptance of bid price by the Authorized Officer, shall immediately i.e. on the same day or not later than next working day as the case may be, pay 25% (twenty five percent ) of the amount of the sale proceeds which is inclusive of EMD, to the Authorized Officer. The balance 75% of the sale price is payable on or before 15th day of confirmation of the sale by the Authorized officer or such extended period as agreed per SARFAESI rules. In case of failure to deposit any of the balance amount within prescribed period, the amount deposited by the defaulting bidder shall be forfeited and the defaulting bidder shall neither have claim on any part of the sum nor the property for which it may be subsequently sold. xviii) The successful bidder shall bear all the necessary expenses like applicable stamp duties/additional stamp duty/transfer charges, Registration expenses, fees etc. for transfer of the property in his/her name. Successful bidders will also have to obtain necessary permission/consent from statutory authorities including civic authorities with regard to construction/occupation of the building premises. xix) The successful bidders shall be responsible for all liabilities (on property under sale and/ or on purchaser) arising out of present or future litigation, if any. xx) LICHFL is not liable to pay any interest /refund of EMD in case of any delay in issue of confirmation of sale/sale Certificate by virtue of any Court order passed/received after e-auction is held. xxi) In case of any exclusion of units or stay by any court/tribunal, LICHFL/MSTC Ltd shall not be liable to pay. The successful bidders shall not be entitled to claim any damages/interest/compensation/cost for such cancellation or postponement or delay and if sale is set aside or stayed, the successful bidder will be entitled only for refund of EMD/Purchase price paid as the case may be. xxii) The payment of all outstanding (if any) or future statutory/non statutory dues, taxes, rates, assessments, charges, fees, penalties etc. owing to anybody shall be the sole responsibility of successful bidder only and necessary enquiries should be made prior to submission of bids. xxiii) xxiv) In case of any dispute arises as to the validity of the bid(s), amount of bid, EMD or as to the eligibility of the bidder, authority of the person representing the bidder, the interpretation and decision of the LICHFL shall be final. In such an eventuality, the LICHFL shall in its sole discretion be entitled to call off the sale and put the property to sale once again on any date and at such time as may be decided by the LICHFL. The sale certificate shall be issued on the receipt of entire sale consideration and confirmation of sale by secured creditor. The sale certificate shall be issued by Authorized Officer in the same name only in which the offer is submitted. Other Terms & Conditions for Sale of Property (ies) - The Bidder shall not involve himself or any of his representatives in Price manipulation of any kind directly or indirectly by communicating with other bidders. - The Bidder shall not divulge either his Bids or any other exclusive details of LICHFL or to any other party. - The decision of LICHFL declaration of successful bidder shall be final and binding on all the Bidders. - M/s MSTC Ltd / LICHFL shall not have any liability to Bidders for any interruption or delay in access to the site irrespective of the cause.

13 1 3 ANNEXURE-B Details of the immoveable Asset for Sale PUBLIC NOTICE FOR SALE OF SECURED ASSETS & IMMOVABLE PROPERTY known as Orbit Grand THROUGH E-AUCTION UNDER SARFAESI ACT, 2002 and Rules there under. The Authorized Officer of LIC Housing Finance Limited (LICHFL), has taken possession of the following property under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI Act) and the Authorized Officer hereby invites bids from the General Public for purchase of the below mentioned Immovable Secured Asset through e-auction under the SARFAESI Act and the Rules made there under on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS for realization of outstanding dues of : Name & Address of the Borrower Name & Addresses of the Gurantors Amount Due Date of Demand Notice & Date of Physical Possession Tender Number M/s. ORBIT CORPORATION LTD. The View, 1st Floor, 165, Dr. Annie Besant Road, Worli, Mumbai MR. PUJIT R. AGARWAL (Guarantor & Director of M/s. ORBIT CORPORATION LTD. & M/s. Ahinsa Buildtech Pvt. Ltd.) 901, The Angel, 2, Krishna Sanghi Marg, Gamdevi, Mumbai MR. RAVIKIRAN S. AGARWAL (Guarantor & Director of M/s. ORBIT CORPORATION LTD. & M/s. Ahinsa Buildtech Pvt. Ltd.) 901, The Angel, 2, Krishna Sanghi Marg, Gamdevi, Mumbai Rs. 95,50,31, (Rupees Ninety Five Crore Fifty Lakhs Thirty One Thousand Eighty Three and Twenty Five Paise Only) as on with further interest thereon@_16% p.a. with costs and charges. Demand Notice dated Physical Possession taken on MSTC/WRO/LIC Housing Finance Ltd/2/4th floor Jeevan Prakash/17-18/184 DESCRIPTION OF IMMOVABLE ASSET (Scheduled Premises) All the property and parcels of land together with structures thereon known as Orbit Grand, C.S. No. 901, 1/901 admeasuring sq. meters & 2/901 admeasuring sq. meters of Lower Parel Division, G- Ward no 2468(1C),(1CC),(5),(4), (3A), (1A), (3B), Street Nos: 5 to 5C, 7 to 7c, 7(D), 5D, 9 to 9C, 11 to 11B, 351C,351BBB13D, 15-15D and 17(1 ) Near Deepak Cinema, N.M. Joshi Marg, Off. Senapati Bapat Marg, Lower Parel, Mumbai List of Known Encumbrances: flat nos: 1401, 1501,1503, 1701, 1704, 1902, 1903, 1904, 2102, 2103, 2402,2404, 2501, 2702, 2801, 2502, 2902, 3103, E- Auction Website Date & Time 0f E-Auction 05/05/2017 : noon Reserve price RS.60,00,00,000/- (Sixty Crores only) EMD (Earnest Money 10% of the Reserve Price i.e. Rs.6,00,00,000/(Six Crores only) Deposit) EMD Remittance By way of demand draft in favour of MSTC Ltd drawn on any nationalized or scheduled bank payable at Mumbai or transfer by way of NEFT/RTGS in the account of MSTC Ltd Account no: and IFSC Code YESB ; Bank & Branch: Yes Bank, Dalhousie, Kolkata. Bid Increment Amount INR Rs. 1,00,000/- (One Lac only) Date & Time for submission Submission one day before the date of e-auction given herein. of EMD & KYC Documents

14 Dates for inspection of property 14/04/2017 Time 11 am to 4 pm & 28 /04/2017 Time 11am to 4 pm Terms and Conditions: 1) E-auction is being held on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS and will be conducted online. The e-auction will be of immovable property described above with structures and building. 2) The above mentioned property will be sold under e-auction through the LICHFL s approved service provider MSTC Ltd. 3) The e-auction Tender Document containing e-auction Bid Application Form, Declaration, registration with the e-platform, obtaining digital signatures, general terms and conditions of online auction sale are available on web portal: Details of the said public e-auction can also be accessed from the website: 4) The property is sold on AS IS WHERE IS BASIS and AS IS WHAT IS BASIS. The bidders should make their own independent enquiries and get satisfied regarding ownership, title of the property, encumbrances, measurements, charges, penalties or statutory dues such as electricity dues, property taxes and any other dues etc. with respect to the property put on auction and also all claims/rights/dues affecting the property, prior to submitting their bids. All outstanding statutory dues/penalties (if any) are to be paid by the successful bidder only. 5) The Authorized Officer of LICHFL reserves the right to reject any or all the offers/tenders/bids without assigning any reason or shall have the right to cancel e-auction. The Authorized Officer of LICHFL also reserves the right to modify any terms and conditions of the e-auction/sale at his discretion without prior notice. 6) The e-auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation on part of LICHFL. This property is being sold with all the existing and future encumbrances whether known or unknown to Authorized Officer, LICHFL. The Authorized Officer/ LICHFL shall not be responsible in any way for any third party claims/rights/dues. 7) Persons who are interested to participate in multiple properties should submit separate EMD for each case. 8) The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale consideration. The EMD will not bear any interest. The Successful bidder on acceptance of bid price by the Authorized Officer, shall immediately i.e. on the same day or not later than next working day as the case may be, pay 25% (twenty five percent ) of the amount of the sale proceeds which is inclusive of EMD, to the Authorized Officer. The balance 75% of the sale price is payable on or before 15th day of confirmation of the sale by the Authorized officer or such extended period as per SARFAESI rules. In case of failure to deposit any of the balance amount within prescribed period, the amount deposited by the defaulting bidder shall be forfeited and the defaulting bidder shall neither have claim on any part of the sum nor the property for which it may be subsequently sold. 9) No conditional Bid will be accepted. All bidders will have to comply with KYC norms and following documents are to be uploaded 1) copy of DD/Payorder/NEFT/RTGS Challan, 2)Copy of Pan Card 3) copy of Adhar Card/Driving License/Passport d)board Resolution / POA/ Authority letter etc on the website before or by the last date of submission of the EMD as mentioned above. 10) Successful bidder shall bear all expenses related to legal/incidental expenses like Stamp duty, registration fees, taxes, statutory fees etc. related to this property as applicable. 11) The sale shall subject to the rules/ conditions prescribed under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and its Rules. Other terms and conditions of e-auction sale as well as tender documents are available on the following website: 12) The intending bidders interested in participating in e-auction should complete registration formalities with MSTC Ltd. 13) This is also a notice to the Official Liquidator/borrower/mortgagor/guarantors referred above under 8(6) of Security Interest (enforcement) rules 2002 on e-auction sale of the Immovable Secured Asset on the above mentioned date. Date: Authorized Officer Place: Mumbai LIC Housing Finance Ltd. 1 4