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Kerala Banning of Unregulated Deposit Schemes Rules, 2021

Form 3

[See Rule 4 (13)]

Notice of Sale of Immovable Property

Office of the......................................

Whereas the movable and immovable properties belonging to Shri.
(defaulter) and mentioned in the Schedule below have been attached for the recovery of arrears amounting to Rs. ................. which sum is recoverable together with interest at ................for the period commencing immediately after the due and the costs, charges and expenses of the proceedings for the recovery thereof;

And whereas the undersigned has ordered the sale of the attached property mentioned in the annexed Schedule in satisfaction of the said arrears, costs, charges and expenses;

And whereas on the .................... day of................ (the date fixed for the sale) there will be due thereunder a sum of Rs. ............ including costs and interest;

Notice is hereby given that in the absence of any order of postponement the said property shall be sold by............... in public auction at........a.m / p.m on the of............. at...(place)

The sale will be of the property of the defaulter above named as mentioned in the Schedule below; and the liabilities and claims attaching to the said property, so far as they have been ascertained, are those specified in the Schedule against each lot.

The property will be put up for sale in the lots specified in the Schedule. If the amount to be realised by sale is satisfied by sale of a portion of the property, the sale shall immediately be stopped with respect to the remainder.

The sale will also be stopped if, before any lot is knocked down the arrears mentioned, interest payable and costs (including the costs of the sale) are tendered to the officer conducting the sale or proof is given to his satisfaction that the amount of such arrears, interest and costs has been paid to the undersigned.

At the sale, the public generally are invited to bid either personally or by duly authorized agent. No officer or other person having any duty to perform in connection with this sale shall, however either directly or indirectly bid or, acquire any interest in the property sold.

The sale shall be subject to the following further conditions:-

(i) The particulars specified in the annexed Schedule have been stated to the best of the information of the undersigned, but the undersigned shall not be answerable for any error, misstatement or omission in this notice.

(ii) The amounts by which the biddings are to be increased shall be determined by the officer conducting the sale. In the event of any dispute arising as to the amount of bid, or as to the bidder, the lot shall at once again be put up to auction.

(iii) The highest bidder shall be declared to be the purchaser of any lot provided always that he is legally qualified to bid, and it shall be in the discretion of the undersigned to declain acceptance of the highest bid when the bid is less than the reserve price, if any, fixed or when the price offered appear so clearly inadequate as to make it advisable to do so.

(iv) The person declared to be the purchaser shall pay immediately after such declaration a deposit of fifteen percent on the amount of his purchase money to the officer conducting the sale and in default of such deposit, the property shall be put up again and resold.

The full amount of the purchase money payable shall be paid by the purchaser to the undersigned on or before the 30th day from the date of the sale of the property, exclusive of such day or if the 30th day is a sunday or other holiday then on the first office day after the 30th day. In default of payment within the period mentioned above, the property shall be resold after the issue of afresh notice of sale.

The deposit, after defraying the expenses of the sale shall be liable to be forfeited to the Government and defaulting purchaser shall forfeit all claims to the property or to any part of the sum of which it may subsequently be sold.

Schedule I [Immovable Property]

Taluk Village Name of defaulter The position and extent of the land and of its building and other known improvements thereon The amount of revenue assessed on the land or upon its different sections Amount for the recovery of which the sale is ordered







Schedule II [Movable Property]

Sl No. Item Specification Item Value assessed Amount for which the sale is ordered

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