Others for sale in Thakurdwara, Moradabad, Uttar Pradesh
Asset Details
Reserve Price:
Date of E-Auction: 28/Dec/2024 10:00 
Assets Code: BOA-EB-75629
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area: None
Builtup Area: NA
Address
ONE COMMERCIAL SHOP AND RESIDENTIAL BUILDING SITUATED AT MOH. FATEHULLAGANJ NEAR BAJAJ GANJ WARD NO. 17 (PRESENTLY WARD NO. 20), IN FRONT KHALEED AHMAD BUILDING Owned in the name of MOHAMMAD ARIF and MR. ANEES AHMAD Bounded as:East: ROAD OF NAGAR PALIKA PARISHAD West: HOUSE OF MUBARAK AND SAEED ETCNorth: HOUSE OF SHAHID ETCSouth: SHOP OF SMT NOORJAHAN
Additional Details
None
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Insights
Seller’s Reserve Price
The reserve price set by the seller for a property auction excludes all property-related dues like taxes, utilities, maintenance, and industrial authority fees.
Earnest Money Deposit (EMD)
The earnest money deposit (EMD) is the minimum amount paid by the buyer to the seller institution to confirm participation in the auction. If the bidder is unsuccessful, the EMD is refundable. However, it will be forfeited in the event of non-payment after winning the auction.
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Possession Status
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SARFAESI Act
The SARFAESI Act, an abbreviation for the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, is legislation implemented in India to empower banks and financial institutions in efficiently recovering their non-performing assets (NPAs). This act grants banks the authority to seize and sell properties of defaulting borrowers without court intervention, providing a legal framework for the swift resolution of distressed assets. By enabling banks to enforce their security interests effectively, the SARFAESI Act significantly aids in loan recovery and upholds financial system stability. Access the Act here.
