Arcil 191121
Arcil 191121
Arcil 191121
Premier ABC
Dear Sir,
llv,
Officer
POSSESSION NOTICE
WHEREAS
The undersigned is the Authorized Officer of Asset Reconstruction Company (lndia) Limited,
acting in its capacity as Trustee of the "Arcil-CPS-008-ll Trust" (hereinafter referred to as
"Arcil"). Pursuant to Assignment Agreement executed on March 28, 2018, South lndian Bank
Ltd (SIBL) has respectively assigned to Arcil, in its capacity as Trustee of above mentioned
trust, inter alia the financial assistance granted by them to M/s. Coastal Projects Limited (in
liquidation) (hereinafter referred to as "Borrower") together with all underlying security
interest and all their rights in respect thereof in terms of Section 5 of the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein
after referred to as "Securitisation Act,2002"). SIBL (the assignor bank) issued demand notice
u/s 13(2) of SARFAESI Act,2002 on 17.O8.2017 in exercise of powers conferred under section
13(12) read with Rule 9 of the Security Interest (Enforcement) Rules, 2002, calling upon the
Borrower M/s. Coastal Projects Limited and its Guarantors including namely Mr. M. Gopal,
Mr. S. Surendra, Mr. G. Hari Hara Rao & Mr. S. Ramesh to repay the amount mentioned in the
notice being Rs. 63,1 1,41,577.83/- (Rupees Sixty Three Crores Eleven Lacs Forty One
Thousand Five Hundred Seventy-Seven and Eighty Three Paise Only) to Bank as on
16.08.2017 together with further interest thereon at contractual rates and other incidental
expenses, within 60 days from the date of receipt of the said notice. The Borrower/G ua rantors
failed to comply with the terms of the said notice.
The Borrower/Gua rantors having failed to repay said amount and having failed to comply
with the notice dated 17.08.2017, notice is hereby given to the Borrower/Guarantors
mentioned hereinabove in particular and to the public in general that pursuant to the orders
passed including order dated 19.02.2020 passed by the Hon'ble Chief Judicial Magistrate,
Bangafore, under the provisions of SARFAESI Act,2002, one Dilip Kamble, Advocate, been
appointed the commissioner vide the order, has taken possession of the property described
herein below and handed it over to the undersigned, being the Authorized officer of Arcil, on
November I 9, 2021.
The Borrower/Gua ra ntors in particular and the public in general are hereby cautioned not to
deal with the property and any dealings with the property will be subject to inter alia the
charge of Arcil for the said amount of Rs.63,1 1,41,577.83/-(Rupees Sixty Three Crores Eleven
Lacs Forty One Thousand Five Hundred Seventy Seven and Eighty Three Paise Only) as on
16.08.2017 together with further interest and other amounts thereon at contractual rates and
other incidental exoenses from 17 -08.2017 till date of reoavment.
DESCRIPTION OF IMMOVABLE PROPERTY
All that part and parcel of 2 Acres (87,120 Sq. Ft.) of land comprised in Sy.No.42 of Pattandur
Agrahara Village, K.R.Puram, Hobli, Bangalore East Taluk, Bangalore. within the limits of
B.B.M.P together with all rights and improvements made therein, in the name of Mr. M.
Gopal, more fully described in Sale Deed No.1 1231/2006-07 dated 04.07.2006 of SRO K. R.
Puram, Bangalore, bounded on:
North by: Government Gutta South by: Road
East bv: Road West by: Lands belonging to Sri. Nayayana Swamy
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