TOURISM FINANCE CORPORATION OF INDIA LTD. IFCI TOWER, 13 TH FLOOR, 61 NEHRU PLACE, NEW DELHI 110019 CIN : L65910DL1989PLC034812 Phone No. 91-11- 26291151, 26291230 Fax : 91-11-26291152 Email: ho@tfciltd.com BID DOCUMENT FOR SALE OF IMMOVABLE PROPERTIES (LAND) BELONGING TO SOMA EQUIPMENTS PVT. LTD. Situated at Village Binola, Taluk Manesar, Distt. Gurgaon, Haryana (Authorised Officer : Shri N Ramachandran, AGM, TFCI) Under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with The Security Interest (Enforcement) Rules, 2002
CONTENTS Particulars Page Nos. I Public Notice for sale published in the Newspaper 3-4 II Possession Notice published in the Newspapers 5-6 III. Introduction 7 IV. (A) Brief Description of secured assets 8 (b) Description of security documents 9-10 V. Outstanding dues of Secured Lender 11 VI. Terms & Conditions 12-15 VII. Form of Bid/Offer 16 VIII. Forms of Appendix to the Bid/Offer 17-18 (Declaration by the Bidder) IX. Form of Profile of the Bidder Company/Firm/Party 19 2
TOURISM FINANCE CORPORATION OF INDIA LTD. 13 th Floor, IFCI Tower, 61 Nehru Place, New Delhi 110019 Phone: +91-11-26291151, 26291230 Fax: +91-11-26291152 CIN : L65910DL1989PLC034812 Website: www.tfciltd.com NOTICE FOR SALE The Authorised Officer (AO) of Tourism Finance Corporation of India Ltd., New Delhi under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, invites Bids/Offers in sealed covers for sale of (a) 4.9125 Acres (39 Kanal 06 Marlas), situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana and (b) 3.65625 Acres (29 Kanal 5 Marlas), situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the State of Haryana, belonging to Soma Equipments Pvt.Ltd.(Guarantor/Mortgagor) in the Loan Account of Soma New Towns Pvt. Ltd. under the provisions of the said Act read with the Security Interest (Enforcement) Rules, 2002, possession whereof was taken by the AO on October 24, 2014. Brief description of property: A. ALL THAT PIECES AND PARCELS OF LAND admeasuring 4.9125 Acres (39 Kanal 06 Marlas), situated at Village Binola, Hadbast No. 147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, more specifically provided in Two sales deeds in favour of company as under: - Sale Deed No. 1671 Dated 20.04.2007 (1) Land measuring 15 kanal 09 Marlas comprised in Khewat No. 23, Khata No. 33, Rect No. 6, Killa No. 22/2 (6-16), Rect. No. 14, Killa No. 2/2(6-8), 3/1/2(0-15), 9/1/2(1-07,) 9/2/3/2(0-03). (2) Land measuring 3 kanal 13 Marlas being 79/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No. 28, Khata No. 38, Rect. No. 6, Killa No. 23/1/2(7-03), altogether admeasuring 19 Kanal 02 Marlas Sale Deed No. 1690 Dated 20.04.2007 (1) Land measuring 16 Kanal comprised in khewat No. 23, Khata No. 33, Rect. No. 6, Killa No. 13 (8-00), 18(8-00) and (2) Land measuring 3 Kanal 04 Marlas being 64/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No.28, Khata No. 38, Rect. No.6, Killa No.23/1/2(7-03) and (3) Land measuring 1 Kanal being 1/8 share of land measuring 8 Kanal comprised in Khewat No. 24, Khata No. 34, Rect No. 6, Killa No. 19(8-00), altogether admeasuring 20 Kanal 04 Marlas. B. ALL THAT PIECES AND PARCELS OF LAND admeasuring 3.65625 Acres ( 29 Kanal 5 Marlas), situated at Village Binola, Hadbast No. 147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, comprised in two sales deeds as under: - Sale Deed No. 1685 Dated 20.04.2007 (1) Land measuring 19 Kanal 04 Marlas comprised in Khewat No. 29, Khata No. 39, Rect No. 6, Killa No. 1/1(3-04), Rect No. 7, Killa No. 5(8-00), 6(8-00). (2) Land measuring 0 Kanal 09 Marlas being 9/147 share of land measuring 7 Kanal 07 Marlas comprised in Khewat No. 30, Khata No. 41, Rect No. 6, Killa No. 10(7-07)- total Land 19 Kanal 13 Marlas Sale Deed No. 1688 Dated 20.04.2007 (1) Land measuring 7 Kanal 08 Marlas comprised in Khewat No.26, Khata No.36, Rect No.6, Killa No. 11(7-08), (2) Land measuring 2 Kanal 04 Marlas being 44/148 share of land measuring 7 Kanal 08 Marlas comprised in Khewat No. 27, Khata No. 37, Rect No. 6, Killa No. 20(7-08)-total Land 9 Kanal 12 Marlas. together with all buildings, structures, erections, etc. constructed and/or to be constructed thereon, both present and future, and the plant and machinery attached to the earth or permanently fastened to anything attached to the earth, fixtures and fittings erected/installed or to be erected/installed thereon and every part thereof. 2. The details of the secured lender and its outstanding dues are as under. Name of the secured lender Dues position As on Amount Tourism Finance Corporation of India Ltd. 15-7-2014 Rs.23,62,88,868/- 3. The details of Assets, Reserve Price, EMD etc. Description of Reserve Price Earnest Money Deposit (EMD) Secured Asset (Rs. In crore) (Rs. In crore) Non-Agricultural Land 24.00 2.40 3
4. Last date of receipt of sealed bids : 21-07-2015 upto 10.00 AM 5. Date and Time of opening of sealed bids : 21-07-2015 at 10.30 AM 6. No bid shall be accepted below the reserve price. 7. There are no encumbrance known to the secured creditor. The purchaser shall bear and pay all outgoings, statutory dues, stamp duty and other expenses in connection with registration of property. 8. The Properties will be sold on AS IS WHERE IS and WHAT IS THERE IS basis. The EMD will not carry any interest. The AO may retain EMD of the second highest bidder upto 30 days from the date of opening of bids. The EMD of other bidders will be returned on the same date. 9. The successful bidder will be required to make payment of 25% of the amount of the offer price (less the amount of EMD deposited) immediately on communication of the acceptance of the bid (on the same day) failing which the EMD shall be forfeited. After such forfeiture, the AO may, at his absolute discretion, consider the second highest bidder and confirm the sale in its favour after receipt of 25% of the offer price as above. 10. The balance 75% amount of the offer price is to be paid within 15 days of the confirmation of sale or such extended period as may be agreed in writing by the AO at his discretion failing which the amount deposited by the bidder shall be forfeited. 11. Inter-se bidding will not be permitted. 12. The bid should be unconditional and unqualified and should be submitted in a sealed envelope super-scribing the name of the asset alongwith name, address, telephone number of the bidder. 13. The AO reserves the right to accept/reject any or all the bids without assigning any reason. 14. The Bid Document can be obtained from the AO on any working day from 19-06-2015 (except Saturday, Sundays and Govt. holidays) between 10 a.m. to 5.00 p.m. on payment of a non-refundable fee of Rs.1000/- (Rupees one thousand only) by a crossed A/C Payee Demand Draft/Pay Order drawn in favour of Tourism Finance Corporation of India Ltd. payable at New Delhi. 15. The Bid Document can also be downloaded from TFCI website (www.tfciltd.com). Those bidders preferring to download the Bid Document shall have to furnish the non-refundable fee of Rs.1000/- as at point 14 above at the time of submission of bid. 16. The bidders may, at their option and cost, inspect the property in consultation with the AO. Sd/- (N Ramachandran) Authorised Officer Date : June 17, 2015 Place: New Delhi 4
II. POSSESSION NOTICE PUBLISHED IN NEWSPAPERS: Financial Express (28-10-2014) and Jansatta (29-10-2014) 5
6
III. INTRODUCTION Tourism Finance Corporation of India Ltd. (TFCI) having its regd. office at 13 th Floor, IFCI Tower, 61, Nehru Place, New Delhi 110 019 issued notice dated 18-7-2014 to Soma New Towns Pvt. Ltd., a company regd. Under the Companies Act, 1956 having its Regd. Office at Plot No.14, Avenue-4, Banjara Hills, Hyderabad 500034, Andhra Pradesh (Borrower) and to Soma Equipments Pvt. Ltd., a company regd. Under the Companies Act, 1956 having its Regd. Office at Plot No.14, Avenue-4, Banjara Hills, Hyderabad 500034, Andhra Pradesh (Mortgagor/Guarantor) under Section 13(2) of Chapter III of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act ) calling upon the Borrower and the Guarantor to repay within 60 days from the date of the said notice/s, the amount mentioned in the said notice/s being Rs.23,62,88,868/- (Rupees twenty three crore sixty two lakh eighty eight thousand eight hundred sixty eight) due as on 15.07.2014 together with further interest and other expenses/costs thereon with effect from 15.07.2014 at the contractual rates upon the footing of compound interest until payment/realization. Though the Borrower acknowledged receipt of the said notice, it failed to discharge the liability. The Guarantor also failed to discharge the liability. Accordingly, the Authorised Officer (AO) of TFCI has taken possession of the secured assets situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon, in the State of Haryana (more particularly mentioned in the Possession Notice annexed at item No.II hereinabove) on 24 th October, 2014, which were mortgaged by the Guarantor for securing the term loan availed by the Borrower from TFCI. The AO also caused publication of Possession Notice in the newspapers as required under the SARFAESI Act. The borrower has filed Securitisation Application being S.A.No.211 of 2014, which is pending before Debt Recovery Tribunal, Chandigarh. However, there is no restraint by DRT against the sale. The AO has put up the secured assets for sale under the provisions of SARFAESI Act, 2002 as detailed hereafter. The land use permission dated 1-12-2010 read with order dated 20-7-2011 granted by Directorate of Town & Country Planning, Haryana at Chandigarh needs to be renewed / revalidated. 7
IV. DETAILS OF SECURED ASSETS A. ALL THAT PIECES AND PARCELS OF LAND admeasuring 4.9125 Acres (39 Kanal 06 Marlas), situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, comprised two sale deeds in favour of Soma Equipments Pvt.Ltd. as under: - Sale Deed no. 1671 Dated 20.04.2007 Land measuring 15 kanal 09 Marlas comprised in Khewat No. 23, Khata No. 33, Rect No. 6, Killa No. 22/2 (6-16), Rect. No. 14, Killa No. 2/2(6-8), 3/1/2(0-15), 9/1/2(1-07,) 9/2/3/2(0-03). Land measuring 3 kanal 13 Marlas being 79/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No. 28, Khata No. 38, Rect. No. 6, Killa No. 23/1/2(7-03), altogether admeasuring 19 Kanal 02 Marlas Sale Deed no. 1690 Dated 20.04.2007 (a) Land measuring 16 Kanal comprised in khewat No.23, Khata No.33, Rect. No.6, Killa No.13 (8-00), 18(8-00) and (b) Land measuring 3 Kanal 04 Marlas being 64/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No.28, Khata No. 38, Rect. No.6, Killa No.23/1/2(7-03) and (c) Land measuring 1 Kanal being 1/8 share of land measuring 8 Kanal comprised in Khewat No. 24, Khata No. 34, Rect No. 6, Killa No. 19(8-00), altogether admeasuring 20 Kanal 04 Marlas. B. ALL THAT PIECES AND PARCELS OF LAND admeasuring 3.65625 Acres ( 29 Kanal 5 Marlas), situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, comprised in two sale deeds in favour of Soma Equipments Pvt. Ltd. as under: Sale Deed no. 1685 Dated 20.04.2007 (a) Land admeasuring 19 Kanal 04 Marlas comprised in Khewat No.29, Khata No.39, Rect No.6, Killa No. 1/1(3-04), Rect No. 7, Killa No. 5(8-00), 6(8-00). (b) Land admeasuring 0 Kanal 09 Marlas being 9/147 share of land measuring 7 Kanal 07 Marlas comprised in Khewat No.30, Khata No.41, Rect No.6, Killa No.10(7-07)- total Land 19 Kanal 13 Marlas Sale Deed no. 1688 Dated 20.04.2007 (a) Land measuring 7 Kanal 08 Marlas comprised in Khewat No.26, Khata No.36, Rect No.6, Killa No. 11(7-08), (b) Land measuring 2 Kanal 04 Marlas being 44/148 share of land measuring 7 Kanal 08 Marlas comprised in Khewat No.27, Khata No.37, Rect No.6, Killa No.20(7-08)-total Land 9 Kanal 12 Marlas; together with all buildings, structures, erections, etc. constructed and/or to be constructed thereon, both present and future, and the plant and machinery attached to the earth or permanently fastened to anything attached to the earth, fixtures and fittings erected/installed or to be erected/installed thereon and every part thereof. A. Particulars of security documents: Loan Amount : Rs.25.75 crore. i) Loan Agreement dated 30-7-2012 entered into between the Company and TFCI. ii) Unconditional Personal Guarantee dt. 9-8-2012 by Shri Rajendra Prasad Maganti. Corporate Guarantee dated 30-7-2012 by Soma Equipments Pvt. Ltd. The above guarantees are joint and several. iii) Mortgage created by Soma Equipments Pvt. Ltd. in favour of TFCI on 30-7-2012 by deposit of title deeds in respect of all that pieces and parcels of lands admeasuring 4.9125 acres (39 Kanal 06 Marlas), situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, more specifically provided in Two sales deeds in favour of company as under: - 8
1. Sale Deed no. 1671 Dated 20.04.2007 a) Land measuring 15 kanal 09 Marlas comprised in Khewat No.23, Khata No. 33, Rect No. 6, Killa No. 22/2 (6-16), Rect. No.14, Killa No. 2/2(6-8), 3/1/2(0-15), 9/1/2(1-07,) 9/2/3/2(0-03). b) Land measuring 3 kanal 13 Marlas being 79/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No.28, Khata No.38, Rect. No. 6, Killa No.23/1/2 (7-03), altogether admeasuring 19 Kanal 02 Marlas 2. Sale Deed no. 1690 Dated 20.04.2007 a) Land measuring 16 Kanal comprised in khewat No. 23, Khata No. 33, Rect. No. 6, Killa No. 13 (8-00), 18(8-00); and b) Land measuring 3 Kanal 04 Marlas being 64/143 share of land measuring 7 Kanal 03 Marlas comprised in Khewat No. 28, Khata No. 38, Rect. No. 6, Killa No. 23/1/2(7-03) and Land measuring 1 Kanal being 1/8 share of land measuring 8 Kanal comprised in Khewat No. 24, Khata No. 34, Rect No. 6, Killa No. 19(8-00), altogether admeasuring 20 Kanal 04 Marlas. iv) Mortgage created by Soma Equipments Pvt. Ltd. in favour of TFCI on 14-8-2012 by deposit of title deeds in respect of all that pieces and parcels of lands admeasuring 3.65625 Acres (29 Kanal 5 Marlas), situated at Village Binola, Hadbast No. 147, Tehsil Manesar, District Gurgaon and within the jurisdiction of Sub Registrar of Manesar, in the state of Haryana, comprised in two sales deeds as under: - 1. Sale Deed no. 1685 Dated 20.04.2007 (a) Land admeasuring 19 Kanal 04 Marlas comprised in Khewat No. 29, Khata No. 39, Rect No. 6, Killa No. 1/1(3-04), Rect No. 7, Killa No. 5(8-00), 6(8-00). (b) Land admeasuring 0 Kanal 09 Marlas being 9/147 share of land admeasuring 7 Kanal 07 Marlas comprised in Khewat No. 30, Khata No. 41, Rect No. 6, Killa No. 10(7-07)- total Land 19 Kanal 13 Marlas 2. Sale Deed no. 1688 Dated 20.04.2007 (a) Land admeasuring 7 Kanal 08 Marlas comprised in Khewat No.26, Khata No.36, Rect No.6, Killa No. 11(7-08), (b) Land admeasuring 2 Kanal 04 Marlas being 44/148 share of land admeasuring 7 Kanal 08 Marlas comprised in Khewat No.27, Khata No.37, Rect No.6, Killa No.20(7-08)-total Land 9 Kanal 12 Marlas. together with all buildings, structures, erections, etc. constructed and/or to be constructed thereon, both present and future, and the plant and machinery attached to the earth or permanently fastened to anything attached to the earth, fixtures and fittings erected/installed or to be erected/installed thereon and every part thereof. Location : NH-8, Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon, Haryana. The land use permission dated 1-12-2010 read with order dated 20-7-2011 granted by Directorate of Town & Country Planning, Haryana at Chandigarh needs to be renewed/revalidated. 9
V. OUTSTANDING DUES OF TFCI AS ON 15.07.2014 (Record date): Principal Outstanding... Rs.21,47,00,000/- Default in payment of interest (with liquidated damages)... Rs. 2,15,75,268/- Other Debits. Rs. 13,600/- TOTAL --------------------------------- Rs.23,62,88,868/- ================= 10
VI. TERMS AND CONDITIONS 1 The Authorised Officer(AO) exercising the powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as the SARFAESI Act ) is selling the assets/ property mentioned at item No.IV of the Bid Document and the same is being sold free from charges and encumbrances of TFCI mentioned at item No.VI of the Bid Document. 2 Issue of Bid Document The Bid Document alongwith Bid/Offer Form is on sale from 19-6-2015 between 10 a.m. and 5.00 p.m. on any working day (except Saturdays, Sundays and Govt. Holidays) and can be obtained from Shri N Ramachandran, Authorised Officer, Tourism Finance Corporation of India Ltd., 13 th Floor, IFCI Tower, 61, Nehru Place, New Delhi 110019 by making payment of Rs.1000/- (Rupees one Thousand Only) [Non-refundable] towards cost of the Bid Document by way of cash or crossed A/C Payee Demand Draft/Pay Order drawn in favour of TOURISM FINANCE CORPORATION OF INDIA LTD. payable at New Delhi. 3. Reserve Price The Reserve Price for the sale of the Secured Asset comprising of immovable property situated at Village Binola, Hadbast No.147, Tehsil Manesar, District Gurgaon, in the State of Haryana, is fixed at Rs.24.00 crore. 4. The sale of assets is on as-is-where-is and what-is-there-is basis. The description of immovable properties is based on the mortgages created by the Borrower / Guarantor with TFCI and the representations made by them. The AO or TFCI does not take any responsibility for any shortfall in the area / measurement of immovable properties or for procuring any permission, etc. or for the dues of any authority established by law. 5 Inspection of assets The interested parties may inspect the assets at their own cost in consultation with the AO. 6 Due Diligence by the Bidders The interested parties may carry out their own due diligence in respect of the Secured Assets. A bidder shall be deemed to have full knowledge of the relevant documents, assets, etc. whether he/she inspects/visits or not. 7 The bidder shall be deemed to have inspected and satisfied himself about the Secured Assets. The Bidder may, in his own interest and at his cost, verify the title to the property, description of assets and other relevant information before submitting the Bids. It shall be presumed that the bidder has satisfied himself about the names, descriptions, particulars, quantities, qualities, etc. if any, and that the bidder concurs or otherwise admits the identity of the assets/properties purchased by him/her notwithstanding any discrepancy or variation, by comparison of the description in the particulars of the assets/properties and their condition. 8 The Bidder shall not be entitled to receive re-imbursement of any expenses which may have been incurred in preparation of the Bid/Offer for submission or for any other purpose in connection with purchase of said assets. 11
9 Submission of Bid/Offer The Bidders shall submit their unconditional & unqualified bid, complete in all respects as per the annexures to the Bid Document, by way of sealed cover (superscribing EMD and Bid for Secured Assets of Soma New Equipments Pvt. Ltd. property at Village Binola, Taluk Manesar, Distt. Gurgaon, Haryana) containing two separate sealed envelopes i.e. one sealed envelope containing the requisite information/documents and a Demand Draft/Pay Order for an amount of Rs.2.40 crore drawn in favour of TOURISM FINANCE CORPORATION OF INDIA LTD. payable at New Delhi being EMD and the second sealed envelop containing FORM OF BID/OFFER as per point VIII of the Bid Document. The bidder shall sign and date each of the documents in the space provided therein for the purpose and initial each page of the Bid Document and also will not make any alterations and additions in the Bid/Offer Documents. In such case, the A.O. reserves the right to reject the Bid at his sole discretion. 10. The Bid/Offer shall be signed by a person or persons duly authorized by the Bidder. 11 The Bid/Offer shall contain the full address, telephone numbers, fax No., email-id, if any, of the Bidder for serving notices required to be given to the Bidder in connection with Bid/Offer. 12 The Bid/Offer form(s) and the documents attached to it shall not be detached one from the other and no alteration or mutilation (other than filing in all the blank spaces) shall be made in any of the documents attached thereto. 13 Last date for submission of Bid/Offer Document : Bid/Offer Form and other information called for herein, so as to reach the AO not later than at 10.00 A.M. on 21 st July, 2015 at the following address: Shri N Ramachandran, Authorised Officer, Tourism Finance Corporation of India Ltd., 13 th Floor, IFCI Tower, 61, Nehru Place, New Delhi 110 019 14 Opening of Bids The bids in the sealed covers will be opened by the AO at 10.30 A.M. on 21-07-2015 in the office of TFCI, in the presence of the Bidders. First, the envelop containing EMD and other information/documents called for would be opened and only those bidders will be permitted to remain present whose Demand Draft/Pay Order for EMD and other information are found to be in order. The A.O. reserves its right to reject the bids/offer of other bidders, whose EMD and/or other information is found not in conformity with the terms and conditions of the Bid Document. Thereafter, the second envelop containing Bid/Offer amount shall be opened. 15 The amount of EMD will not carry any interest and AO reserves the right to retain the EMD of second highest bidder up to 30 days from the date of 12
opening of bids. The EMD of other bidders will be returned on the same date. 16 Bids/Offers with amount less than the reserve price (as indicated at para 3 above) shall be out-rightly rejected and the EMD amount of such Bids/Offers will be forfeited without assigning any reason. 17 Payment of the Sale Price The successful bidder(s) would be informed in writing about the acceptance of his/her/their bid/offer by the AO and will be required to deposit 25% of the sale/offer price (Bid/Offer amount) less the amount of EMD immediately by way of crossed A/C Payee Demand Draft/Pay Order drawn in favour of TOURISM FINANCE CORPORATION OF INDIA LTD. payable at New Delhi. The balance amount of the sale price shall have to be paid within 15 days from the date of confirmation of sale (or such extended period as may be agreed upon in writing by the AO) by way of crossed Demand Draft/Pay Order as explained hereinabove. 18 The inter-se bidding will not be permitted. 19 In case the successful bidder fails to deposit 25% of the sale price, the AO shall forfeit the EMD amount and if the successful bidder backs out after paying 25% of the sale amount, then the AO shall forfeit the 25% of the sale consideration so deposited including the EMD. After such forfeiture, the AO may, at his absolute discretion, consider the second highest bidder and confirm the sale in its favour after receipt of 25% of the offer price as above. 20 The defaulting successful bidder shall forfeit all claims to the assets or to any part of the sum for which it may be subsequently sold. 21 On confirmation of sale and if the terms of payment have been fully complied with, the AO shall issue Certificate of Sale for the movable and immovable properties in favour of the purchaser. 22 The purchaser will be required to bear all the necessary expenses like stamp duty, registration expenses, etc. for transfer of assets in his/her name. It is expressly stipulated that there is no implied obligation on the part of the AO or TFCI and it shall be solely the obligation of the Bidder, at his/her/their cost, to do all acts, things and deeds whatsoever for the completion of the sale. 23 The submission of the Bid/Offer means and implies that the Bidder/Offerer has unconditionally and irrevocably agreed to and accepted all the above terms and conditions of the Bid/Offer laid down herein. 24 The time hereinabove fixed for the observance and performance by the bidder of any of the obligations to be observed by him/her under these conditions is and shall be deemed to be of essence. 25 General Terms and Conditions The AO reserves the right to amend/modify/delete/drop any of the above conditions as may be deemed necessary. 26 The entire procedure of opening of Bids/Offers, the sequence of opening and bidding, etc. shall be at the sole discretion of the AO and the intending bidders shall have no right whatsoever to object to the same. 13
27. The borrower has filed Securitisation Application being S.A.No.211 of 2014, which is pending before Debt Recovery Tribunal, Chandigarh. However, there is no restraint by DRT against the sale. 28. The AO reserves the right to accept/reject any or all the Bids/Offers without assigning any reason. In case all the bids are rejected or the successful bidder fails to make payments as required in the Bid Document, the AO, at his sole discretion, reserves the right to consider the second highest bidder or sell the assets by any of the modes as prescribed in the SARFAESI Act. 29 Jurisdiction All disputes arising amongst the parties shall be adjudicated according to the Indian Law and the Courts/Tribunals in New Delhi alone shall have jurisdiction to entertain/adjudicate such disputes. 14
VII. FORM OF BID/OFFER FORM OF BID/OFFER TO BE FILLED AND SUBMITTED BY THE BIDDER/OFFERER FOR PURCHASE OF PROPERTY OF Soma Equipments Pvt. Ltd. property at Village Binola, Taluk Manesar, Distt. Gurgaon, Haryana. 1 a) Full Name of the Bidder/ Offerer (in block letters) b) Complete Postal Address, PIN Code, Tel.No./Fax No. Mobile Nos., Email-ID etc. 2 Brief Particulars of the Bidder 3 Relationship, if any, the Bidder/ Offerer has with any employee of TFCI Ltd. 4 Name of the Property and Amount quoted by the Bidder/Offerer for purchase of the same. In Figures In Words Rs. Rupees 5. Details of Earnest Money Deposit (EMD) i) D.D./Pay Order No. ii) Date of D.D./Pay Order iii)name of the issuing Bank and Branch. iv) Amount of EMD Rs.2,40,00,000/- 6 Income-Tax Permanent Account Number(s) I/We have read and understood the detailed terms and conditions of the sale and have also read, perused and understood all the relevant papers and have carried out my/our own due diligence. In case any information is found to be incorrect, I/We shall not hold the Authorised Officer or TFCI responsible for the same and shall not have any claim whatsoever against either of them. Place : Date: Signature of the duly authorized official of the Bidder/Offerer Name & Designation of the Authorised Signatory 15
VIII. DECLARATION BY THE BIDDER/OFFERER (Note : This Appendix forms part of the Bid Document and be submitted on the letter head of the bidding company). To Shri N Ramachandran, The Authorised Officer Tourism Finance Corporation of India Ltd. 13 th Floor, IFCI Tower, 61 Nehru Place, New Delhi 110 019. Dear Sir, SALE OF SECURED ASSETS/PROPERTY OF Soma Equipments Pvt.Ltd. situated at Village Binola, Taluk Manesar, Distt. Gurgaon, Haryana. 1. Having fully examined and understood the terms and condition of the Bid Document and conditions and status of the Secured Assets/property, I/We offer to purchase the said Secured Assets strictly in conformity with the terms and conditions of this Bid/Offer Document. 2. I/We understand that if my/our Bid/Offer is accepted, I/We shall be responsible for the due observance and performance of the terms and conditions of the Bid/Offer and acquire the Secured Asset/property. Should I/We fail to execute and perform the terms and conditions when called upon to do so, the Earnest Money Deposit (EMD) shall be forfeited. I/We further understand that if my/our Bid/Offer is accepted, should I/We fail to deposit the balance amount of 75% of the sale consideration (after having paid 25% of the sale consideration), the said amount of 25% of the sale consideration (including Earnest Money Deposit) paid by me/us shall also be forfeited, as laid down in the terms and conditions of the Bid Document. 3. I/We understand that you are not bound to accept the highest or any Bid/Offer you may receive. Further, I/We will not raise any objection in case the Authorised Officer goes for re-bidding or sell the assets by any of the modes as prescribed in the SARFAESI Act. 4. I/We understand that time is of essence for completing the acquisition formalities of the Secured Assets/property and I/We agree and undertake to abide by it. 16
5. I/We also enclose a Demand Draft/Pay Order of value of Rs.240 lakh (Rupees two crores forty lakhs only) towards Earnest Money Deposit (EMD) in the name of Tourism Finance Corporation of India Ltd. payable at New Delhi. I/We understand that the EMD as well as further sale amounts will not carry any interest. 6. I/We agree and confirm that the Bid/Offer submitted by us is unconditional & unqualified. Place : Date : Signature in the capacity of Duly authorized to sign Bid/Offer for and on behalf of (Name and address of the Bid/Offerer) (IN BLOCK CAPITAL LETTERS) 17
IX. FORMAT FOR SUBMISSION OF PROFILE OF THE BIDDER COMPANY/FIRM/PARTY. 1. Name of the Company/Firm/Party 2. Correspondence Address in full (with Pin Code) Telephone Number (with STD Code) Fax No. e-mail ID Website Address, if any Address of Registered Office (in case of a company) Profile of the Bidder Company/Firm/Party Telephone Number (with STD Code) Fax No. e-mail ID Website Address, if any 3 Date of Incorporation 4 Constitution (Private/Public/Joint) 5 Name of the Chairman 6 Name of the Managing Director 7 Board of Directors 8 Income tax PAN Number Date of Last Income Tax Return (Enclose copy of last 3 years Income Tax Clearance certificate) a) b) c) d) e) Date: Signature: Name of the Authorised Person: Designation: Company Seal All authorizations should be annexed to this form. 18