Mahesh Bank issues auction notice to recover dues
Multi-state scheduled bank Andhra Pradesh Mahesh Co-operative Urban Bank Limited (Mahesh Bank) recently issued an auction notice for the sale of an immovable property at Kakinada.
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Hyderabad: Multi-state scheduled bank Andhra Pradesh Mahesh Co-operative Urban Bank Limited (Mahesh Bank) recently issued an auction notice for the sale of an immovable property at Kakinada. The auction will take place at the branch of Andhra Pradesh Mahesh Co-operative Urban Bank Ltd in Rajahmundry on March 28, 2023 (today) from 12.30 pm.
The property belongs to Bosukonda Radhakrishna, his wife B Chinna Devi and his son B Narendra Krishna. The borrowers owe Rs 4.72 crore to the bank.
Providing description of the immovable property, the bank informed through a notice that the property bearing D Number 8-24-7, 8-24-7/1 and 8-24-7/2, T S No 570, Block NO 8, Ward No 2, Subbarao Street, Gandhi Nagar, within Kakinada Municipal Limits, Kakinada has land measuring 1341 square yards. The reserve price is Rs 583.92 lakh. The auction sale notice was issued for sale of immovable assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with proviso to Rule 6 (2) and 8 (6) of the Security Interest (Enforcement) Rules, 2002.
“Notice is hereby given to the public in general and in particular to the Borrower(s)/ Mortgager(s)/ Guarantor(s) that the immovable property mortgaged/charged to the Secured Creditor, possession of which has been taken by the Authorised Officer of Andhra Pradesh Mahesh Co-operative Urban Bank Ltd, Secured Creditor, will be sold on “As is Where is”, As is what is”, and “Whatever there is” basis for recovery of the account,” the bank said in its notice.
The auction is going to take place at Andhra Pradesh Mahesh Co-operative Urban Bank Ltd’s branch, Dr M Gangaiah Shopping Complex, opposite to I Town Police Station, Main Road, Rajahmundry.
