Secure Prime Real Estate in Kerala: Participate in the Upcoming E-Auction
In accordance with the order of the Hon’ble High Court of Kerala dated March 4, 2024, passed in Official Liquidator’s Report No. 34/2021, an e-auction is being conducted to sell specific assets of a company under liquidation. The auction is scheduled to take place on September 26, 2024, between 14:00 and 17:00 hours. M/s. RailTel Corporation of India Ltd. will conduct this e-auction on behalf of the Official Liquidator, offering the assets on an “As Is Where Is and Whatever There Is Basis.”
Assets Available for Auction
The primary asset available for sale is a piece of landed property located in Kallooppara Village, Mallappally Taluk, Pathanamthitta District, Kerala. The details of the asset are as follows:
- Lot No. 1: The property spans an area of approximately 3.43 acres, including an extent of 1 Hectare, 38 Are, and 90 Square Meters. This property is located in Resurvey numbers 193/1, 193/2, and 193/4 in Block No. 18 of Thandaper number 1279 of Kallooppara Village. Buildings situated on this land are also included in the sale.
- Upset Price: ₹40,00,000/-
- Earnest Money Deposit (EMD): ₹4,00,000/-
Terms and Conditions of Sale
The complete e-auction catalogue, including the “Terms and Conditions” of the sale, provides detailed information on the auction process. It includes schedules, guidelines for online registration, and other critical particulars. Prospective bidders are encouraged to thoroughly review these details before participating in the auction.
The catalogue can be accessed on the RailTel Corporation of India Ltd. website by navigating to the “forthcoming e-auction” section or by directly visiting the URL: RailTel e-auction platform. Additionally, the Ministry’s website also provides access to this information.
Inspection of Assets
Interested buyers are invited to inspect the assets at the company premises located in Kallooppara Village, Mallappally Taluk, Pathanamthitta District, Kerala. The inspection is scheduled for September 6, 2024, between 10:00 AM and 4:00 PM. This inspection allows bidders to assess the property firsthand and ensures transparency in the bidding process.
Participation in the E-Auction
To participate in the e-auction, bidders must register online and submit their bids through the designated platform. The following steps outline the process:
- EMD Payment: Prospective bidders must pay the EMD amount of ₹4,00,000/- through online mode at least five days before the auction date, i.e., by September 21, 2024. The payment should be made to the account titled “e-Auction of Assets by the Official Liquidator.”
- Online Registration: Bidders are required to register their details on the e-auction platform and obtain a User ID and Password. Training on the e-auction process can be availed from M/s RailTel Corporation of India Ltd.
- Submission of Bids: After successful registration, bidders can submit their bids during the auction hours on September 26, 2024.
Important Contacts for Assistance
For any queries or clarifications regarding the e-auction procedure, participants may contact:
- Sri Gagan T.S., RailTel Corporation of India Ltd.
- Mobile: +91-8448288987 / 89
For questions related to the property or other auction details, participants may reach out to:
- Smt. Valsala P., Office of the Official Liquidator
- Mobile: +91-8075028578
Rights of the Official Liquidator
The Official Liquidator, subject to the orders of the Hon’ble High Court of Kerala, reserves the right to accept or reject the highest bid. Additionally, the assets may be put up for resale if necessary. The decision of the Official Liquidator shall be final and binding in this regard.
Final Thoughts
This e-auction represents a significant opportunity for interested buyers to acquire valuable assets in Kerala. However, potential bidders should ensure they fully understand the terms and conditions, inspect the property, and complete the necessary registration steps. By participating in this auction, buyers have the chance to secure prime real estate in one of Kerala’s sought-after locations.
For further updates and information, bidders are advised to regularly check the official e-auction platform and Ministry websites.
