Those being auctioned are the assets mortgaged to SBI.
State Bank of India (SBI) is going to conduct mega e-auction (auction) on December 30. During this time more than 1000 properties will be put up for online auction. These properties include open plot, residential, industrial and commercial properties. The properties that the bank is going to auction are mortgaged assets to SBI of those who have failed to repay the bank’s debt and now SBI is going to auction these properties to recover the dues from them.
According to the information available on the SBI website, the bank acts with utmost transparency while presenting the immovable properties (such as residential properties / commercial properties etc.) attached for auction by the order of the court / court. The bank provides all the relevant information which is necessary for the bidders to know and make the property attractive. The bank also says that in the public notice issued for auction, it gives information about the freehold or leasehold of the property i.e. the property is wholly owned or leased, its measurement, location etc.
You can contact related branches
Specified persons are present in the SBI branches related to the auction of the property. A person interested in purchasing a property in an e-auction can contact the officer for any clarity about the auction process and related property. You can also inspect the property.
Mega E-auction Essentials
- EMD (Ernest Money Deposit) for special property mentioned in the e-auction notice
- KYC Documents: It has to be deposited in the concerned bank branch.
- Valid Digital Signature: Bidders can contact the e-auctioneer or any other authorized agency to obtain a digital signature.
- Login ID and Password: After submitting the EMD and KYC documents to the concerned branch, the e-auctioneer will send the login ID and password to the email ID of the bidders.
As per the auction rules, bidders will have to log in and bid on the auction hours on the e-auction date. Some links are also available on the bank’s website. Information related to the property and their locations can be found by visiting these. Apart from this, information related to participating in e-auction and bidding can also be obtained. These links are like this…
Source: www.financialexpress.com