5th Floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai

STRESSED ASSETS STABILIZATION FUND (SASF)
5th Floor, IDBI Tower,
WTC Complex,
Cuffe Parade,
Mumbai - 400 005
www.sasftrust.com
TENDER DOCUMENT
For
Sale of Certain Specific movable equipment’s of
Uma Maheswari Mills Limited (In Liquidation)
located at.
Plot Nos. 86-89, SIPCOT Industrial Estate, Bangalore Main Road,
District Hosur, in the state of Tamil Nadu
(Pursuant to the Orders of the Hon’ble High Court of Judicature,
Madras dated July 23, 2013 in Company Petition No.173 of 2001)
UMA MAHESHWARI MILLS LIMITED
(IN LIQUIDATION)
CONTENTS
Particulars
1
Public Notice for SALE published in the
Page No
3-4
newspapers.
2
Introduction
5-6
3
Brief Description of Movable Properties
7-8
4
Terms & Conditions
9-10
5
Annexure –I Tender for purchase of
Movable property
11
6
Annexure – II Earnest money deposit
12
7
8
Annexure – III Declaration
13
Annexure – IV Certificate of sale
2
14
STRESSED ASSETS STABILIZATION FUND
5th FLOOR, IDBI TOWER, WTC COMPLEX, CUFFE PARADE,
MUMBAI – 400 005.
Website: www.sasftrust.com
PUBLIC NOTICE FOR SALE (through e-auction)
SALE OF MOVABLE PROPERTIES ("SECURED ASSETS") OF
UMA MAHESWARI MILLS LIMITED (IN LIQUIDATION) ("THE BORROWER")
Pursuant to the Orders of the Hon’ble High Court of Judicature, Madras dated July 23, 2013 in CP No
173/2001, , the undersigned being the Authorised Officer (AO) of SASF invites offers in sealed covers for
purchase of the following machineries of Uma Maheswari Mills Ltd.(in Liquidation), having registered office at
5/239, State Bank Colony No. 2, Salem – 636004 and factory at Plot Nos. 86-89, SIPCOT Industrial Estate,
Bangalore Main Road District Hosur, Tamil Nadu, presently a closed unit which was engaged in
manufacturing of textiles / manufacturing of cotton yarn with installed capacity of 24720 spindles.
Property Description
LOT-I
1.KTTM
Ring
Frame,
2.Draw Frame of
Lakshmi Rieter
3.Autocover,
4.Carding Machines,
5.Trumac Chutes,
6.Genset
Details
are
mentioned in the
Tender document
LOT-II
Mentioned in Tender
Document
COMBINED LOT
Reserve
Price
(Rs. lakh)
Earnest
Money
Deposit
(EMD)
(Rs. lakh)
133.60
13.36
16.00
1.50
149.60
15.00
Availability of
Tender
Documents
Date of
Inspection
Last date of
Date and time
submission of
of E-auction
Sealed Tenders
05.08.2014 to
03.09.2014
between
11.00 am to
4.00 pm
22.08.2014
between
11.00 am to
4.00 pm
04.09.2014
05.09.2014
upto 12 noon
between 2.30
at IDBI Tower, pm to 4:00 pm
Mumbai
1. Auction sale / bidding would be only through “Online Electronic Bidding” process through the website
https://sarfaesi.abcprocure.com through e-auction service provider M/s E-Procurement Technologies Ltd. (ETL).
2. The interested bidders should give their offers strictly in accordance with the terms and conditions of sale as
mentioned in the Tender Document.
3. The interested bidders shall submit their Bid along with EMD and KYC documents (PAN Card/ Address proof).
On receipt of the EMD and confirmation from authorised officer, the bidders shall receive user id / password on
3
4.
5.
6.
7.
8.
9.
10.
their valid email id (mandatory for e-auction) from the e-auction service provider M/s E-Procurement
Technologies Ltd.
The amount of EMD paid by the interested bidders shall carry no interest.
The sale of Secured Assets is on "as is where is basis", "as is what is & whatever there is basis" and "without
recourse basis" for and on behalf of SASF/Secured Creditors under intimation to the Official Liquidator attached
to Madras High Court.
All statutory liabilities / taxes / maintenance fee / electricity / water charges etc., outstanding as on date and yet
to fall due would be ascertained by the bidder(s) and would be borne by the successful bidder. SASF does not
take any responsibility to provide information on the same.
For detailed procedure, terms and conditions of the auction process, intending bidders may arrange to obtain Bid
/ Tender Document from Shri Nitin Sawant, Deputy General Manager, or from Shri Atul Gokhale, Manager,
SASF, 5th floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai -400 005 on any working day (except
Saturday) between 11.00 am to 4.00 pm on payment of non- refundable fees of Rs.500/- (Rupees Five Hundred
Only) by a crossed A/c Payee Demand Draft/ Pay order drawn in favour of “SASF- A/c M/s Uma Maheshwari
Mills Ltd.” payable at Mumbai issued by any Nationalized Bank / Scheduled Bank.
The bid/tender document can also be downloaded from IDBI website (www.sasftrust.com) and
https://sarfaesi.abcprocure.com. Those bidders preferring to download the Bid/Tender Document shall have to
furnish the non refundable fee of Rs.500/- as at 7 above at the time of submission of the acceptance document
with EMD.
For detailed information on the procedure of e-auction please refer to the Bid / Tender Document and for
formalities / registration to be completed before e-auction, please refer to registration procedure at website
https://sarfaesi.abcprocure.com.
Interested parties may contact Shri Nitin Sawant on (T) +91 6655 2070, (M) +91 98196 09987, (e-mail)
[email protected] and Shri Atul Gokhale on (T) +91 6626 3984, (M) +91 80970 62200, (email) or
[email protected]. For e-auction support, you may contact Shri Tilak Maratha on (Mo) +91 9067799646
(e-mail) [email protected], Shri Vijay Shetty on (M) +91 09619002431 (e-mail)
[email protected], and Shri Vishal Tiwari on (M) +91 08140094365 (e-mail)
[email protected]. M/s ABC PROCURE (E-Procurement Technologies Ltd.), Ahmedabad (Help Line
Nos. : 079-40230 828/829/830/813/814/815/816).
Sd/Authorised Officer
Stressed Assets Stabilisation Fund
Place: Mumbai
Date: August 5, 2014
4
INTRODUCTION
1.
Uma Maheswari Mills Ltd.(In Liq) is a company registered under
the companies Act, 1956 and having its registered office at 5/239,
State Bank Colony No.2, Salem – 636004 and factory at plot Nos. 8689, SIPCOT Industrial Estate, Bangalore Main Road Districr Hosur,
Tamil Nadu ( the company). The company in liquidation which was
engaged in manufacturing of textiles / manufacturing of cotton yarn
with installed capacity of 24720 spindles. Hon’ble High Court of
Judicature at Madras had ordered winding up of the company vide
order dated 20.12.2006 in C.P. No. 173 of 2001 and Official Liquidator
attached to Madras High Court has taken Possession of the Assets of
the Company
2.
Industrial Development Bank of India (IDBI) granted various
financial assistant to the Company, which were secured on certain
specific movable assets of the company (more particularly mentioned
at Page No’s 7 & 8) acquired by the company out of the said financial
assistance and the movable assets charged by way of Hypothecation
Deed(s) executed by the Company in favour of IDBI.
3.
The Government of India vide Trust Deed dated September 24,
2004 has set up a Trust under the name of “Stressed Assets
Stabilization Fund” (SASF). SASF is having its Principal Office at IDBI
Tower, Cuffe Parade, Mumbai – 400005. Pursuant to the Transfer
Deed dated September 30, 2004, IDBI Bank inter alia, assigned /
transferred to SASF the financial assistance granted by them to Uma
Maheswari Mills Limited, the Borrower, together with all under lying
securities and all rights in respect thereof, for valuable consideration
to SASF. Thus, SASF has the absolute right, title, interest and
authority to recover all the monies owned by the Borrower to IDBI
Bank and to enforce the securities created by the Borrower in favour
of the IDBI Bank. Therefore, for all the practical purposes, SASF
would be treated as if it has stepped into the shoes of IDBI Bank.
5
4.
The movable properties proposed to be sold are exclusively
charged/hypothecated to SASF. The outstanding dues of SASF as on
July 01, 2013 are Rs. 10637.14 lakh
5.
In the C.A.Nos. 285 and 286 and 542 of 2013 filed by Rajsriya
Automotive Industries P Ltd (Purchaser of Land) in C.P. 173 of 2001,
the Hon’ble Madras High Court vide order dated July 23, 2013
directed sale of the machinery
6.
The list of movable properties of the Borrower put on sale is
mentioned in page Nos.7, 8 and 9 in the Tender Document.
--------
6
Uma Maheshwari Mills Limited (In Liquidation)
Brief Description of the movable properties
I.
(Description is as per the charge / hypothecated
by the borrower with SASF)
LOT- I
Sr Description of
.n the
o. Machineries
1
Lakshmi
Rieter Ring
Frame Model
G5/1 1008
Spindles
2
Lakshmi
Simplex speed
frame model
LF - 1400
Lakshmi
Rieter Draw
frame model
DO/2S
“Muratec”- No
7-II Autocover
– 60 Drums
(Imported)
Cleaner
Missing
Rieter Unilap
machine
Cherry Hara
combers
3
4
5
6
Qty Manufactu
ring
company
Machine
No.
6
1440
1474
3492
854
1111
4179
2
459
Location where
machineries
located section
wise
1990
1990
1992
1988
1989
1993
1995
Machine No.
assigned by
the
company
section wise
3
4
5
18
20
24
3
1195
1988
5
Preparatory II
3
5233
5527
5273
1987
1988
1987
2
8
5
Preparatory I
Preparatory I
Preparatory I
1
935 X
35106-001
1994
--
Preparatory I
1
1045
1985
-
Preparatory I
4
1999
1
2
3
4
2
3
4
5
6
-
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
Preparatory
-
3
Preparatory II
7
Carding
machines
model – DK –
760
5
8
Trumac
chutes
Cherry Hara
draw frame
5
958061
958062
958064
958063
109212-B
109206-A
109206-B
111611A
111611B
-
1
940272
9
7
Year of
Purcha
se
Spinning
Spinning
Spinning
Spinning
Spinning
Spinning
Preparatory II
II
II
II
II
II
II
II
II
II
II
10
model D-600
Genset (380
/320 KVA)
3
91303AK0
2
89308A64
25
(Radiator,
Injector
assembly
missing)
94210231
8
(Engine
missing)
1968
--
Generator shed
1968
--
Generator shed
1992
--
Generator shed
LOT-II
II.
Brief Description of the movable properties
(Description is as per the charge / hypothecated by the
borrower with SASF/Cholamandalam Investment & Finance Co
Ltd)
Sr
.n
o.
Description of
the
Machineries
1
Lakshmi
Rieter
crystalline
carding
machine
model
KTTM Ring
Frame model
RH240I
2
Qty Manufactu
ring
company
Machine
No.
1
4243
Year of
Purcha
se
1
1971101
8
Location where
machineries
located section
wise
-
Machine No.
assigned by
the
company
section wise
11
--
--
Preparatory II
Preparatory II
Terms and Conditions
1. The Tender document can be obtained from 04.08.2014 to 02.09.2014. The Tender Document
can also
be
downloaded from SASF
Website
www.sasftrust.com and
https://sarfaesi.abcprocure.com during the period. The cost of Tender Document is Rs.1000/. The DD/ Pay order for Tender document shall be drawn on SASF and payable at Mumbai.
Tender Document fee will not be refunded and/ or adjusted. Also it can be obtained from Shri
Nitin Sawant, DGM, SASF, 5th Floor, IDBI Tower, WTC Complex, Mumbai - 400005, (T) +
91 22 66552070, (F) + 91 22 22150855, (email) [email protected] or from Atul
Gokhale, Manager (T)+91 22 66263984 (e-mail) [email protected]
2. The Reserve price for all the movable assets is Rs 149.60 lakh.
3. The interested buyers can inspect the said movable assets, which are on sale between 11.00
am to 04.00 pm at their own cost on August 22,2014 in the presence of an official of
SASF/Official Liquidator office available at the site to facilitate the inspection
4. The interested buyers may submit their unconditional and unqualified bids in two separate
sealed covers to the DGM, SASF, 5th floor, IDBI Tower, WTC Complex, Mumbai-400005,
so as to reach him not later than 12.00 noon on September 03,2014. One sealed cover
containing a demand Draft (DD) for EMD as indicated in the sale advertisement, drawn in
favour of „Stressed Assets Stabilization Fund ‟payable at Mumbai as Earnest Money Deposit
(EMD), which shall be super scribed “EMD for movable property of Uma Maheshwari Mills
Ltd (in Liq)” and another sealed cover super scribed with “Tender for Uma Maheshwari Mills
ltd (in Liq)-sale of movable properties containing the Tender amount”.
5 Auction sale / bidding would be only through “Online Electronic Bidding” process through
the website https://sarfaesi.abcprocure.com Intending bidders should hold a valid email
address and register their names at portal https://sarfaesi.abcprocure.com and get their User
ID and password free of cost from M/s E-Procurement Technologies Ltd. (ETL), whereupon
they would be allowed to participate in online e-auction
6
Prospective bidders may avail online training on E-Auction from M/s ABC PROCURE (EProcurement Technologies Ltd.), Ahmedabad [Help Line Nos. : 079-40230
804/805/806/813/816/818/814;Contact Persons: Mr. Tilak Maratha, Mobile No.09067799646
E-mail: [email protected], Mr. Vijay Shetty, Mobile No. 09619002431 E-mail:
[email protected] , Mr.Vishal Tiwari, Mobile No. 08140094365, E-mail:
[email protected] Fax No.079-40016876/816
7
The second cover of only those tenderers will be opened whose cover containing EMD have
been found to be in order. The amount of EMD will not carry any interest.
8. The successful tenderer will be informed in writing about the decision of Secured Creditor by
AO as expeditiously as possible and will be required to deposit 25% of the sale price by DD
drawn in favour of Stressed Assets Stabilization Fund, Mumbai payable at Mumbai at the
time of the sale. The balance 75% of the sale price shall have to be paid within 15 days there
from the date of intimation of acceptance of the bid/s or such extended period as may be
agreed upon in writing as per the directions of AO. The successful bidder will not be entitled
for possession of the assets until the entire amount is paid.
9
8.
9. In the event of, the successful tenderer failing to deposit the 25% of the sale price, SASF shall
forfeit the EMD and the amount deposited, if any, and if the successful tenderer fails to
deposit the balance sale price, in full, then he/she shall forfeit the EMD and the amount so
deposited.
10. In the event of highest tenderer failing to comply with the payment terms, SASF reserves the
right to sell the secured Assets to the second /third highest tenderer in the above manner,
which shall also be treated as the successful tenderer mentioned in terms of this tender
Document.
11. The defaulting purchaser (successful tenderer) shall forfeit all claims to the Secured Assets or
to any part of the sum for which it may be subsequently sold.
12 On confirmation of sale and if the terms of payment have been complied with, the successful
purchaser shall prepare all documents as are necessary for transferring/conveying the
movable assets in favour of successful purchaser and shall submit the draft for approval of
SASF/OL before engrossment. The purchaser shall pay necessary expenses, all incidental
expenses and tax liabilities, if any on the transfer of the said movable assets, document and
completing the sale transaction.
13 The successful purchaser shall complete the sale formalities and take delivery of the assets
sold at his own cost within 30 days from the date of payment of full purchase consideration or
otherwise the said assets shall remain at the entire risk of the purchaser in all respect after
expiry of 30 days
14 The sale of Secured Assets is on “ as is where is‟‟ basis and “as is what is „‟ basis and
“whatever there is” basis and “no recourse‟‟ basis. The description of movable properties is
based on the inventory prepared by the valuer appointed by SASF
15 The interested buyers may carry out their own due diligence. They may also verify at their
own cost and their own interest details of movable properties and any other relevant
information before submitting the tenders.
16 The purchaser of the movable assets has to discharge the tax liabilities, if any, without
seeking any reimbursement from SASF.
17 SASF shall be at liberty to amend/modify/delete/drop any of the above conditions as may be
deemed necessary in the light of the facts and circumstances and also to
withhold/defer/withdraw the auction /sale without assigning any reason at any time during the
process of the sale
18 A tenderer shall be deemed to have full knowledge of the relevant documents, movable assets
etc .whether he/she inspects or visits or not.
19. The AO reserves the right to accept or reject any or all bids / tenders without assigning any
reasons. In case, all the tenders are rejected, AO can negotiate with any of the tenderers or
other parties for sale of the Secured Assets by private treaty.
20. All disputes arising amongst the parties shall be adjudicated according to Indian Law and the
Courts in Mumbai alone shall have jurisdiction to entertain /adjudicate such disputes.
10
Annexure I
Tender for purchase of movable Equipment’s.
MUma Maheshwari Mills Ltd(In Liquidation).
Name and particulars of the Tenderer
:
Tenderer's Permanent Account Number (PAN)
:
Tender amount
:
Machinery as per Annexure
Rs.
Name and particulars of the person in whose name the assets are to be
purchased.
Particulars of DDs and cheques:
Brief profile of the Tenderer / Purchaser
I have read the terms and conditions of the Tender and have perused the
relevant paper and have carried out my own due diligence. In case any
information is found to be incorrect, I shall not hold SASF responsible
for the same and shall not have any claim against either of them.
Date:_____________
Place:____________
Signature of the duly authorized official of the Tenderer
11
Annexure II
Earnest Money Deposit for purchase of movable Equipment’s.
MUma Maheshwari Mills Ltd (In Liquidation).
Name and particulars of the Tenderer
Tenderer's Permanent Account Number (PAN)
Earnest Money Deposit
Machineries as per Annexure
:
:
Rs
Name and particulars of the person in whose name the assets are to
be purchased.
Particulars of DDs and cheques:
I have the terms and conditions of the Tender and have perused
the relevant paper and have carried out my own due diligence. In case
any information is found to be incorrect, I shall not hold SASF
responsible for the same and shall not have any claim against them.
Date:_____________
Place:____________
Signature of the duly authorized official of the Tenderer.
12
(To be submitted along with Tender in cover II)
(On Rs. 100/-Stamp Paper)
Annexure III
DECLARATION
To
Mr Nitin Sawant,
Authorised Officer,
Deputy General Manager,
Stressed Assets Stabilization Fund,
5th Floor, IDBI Tower, WTC Complex,
Cuffe Parade,
Mumbai – 400 005.
Date:
I/We, the Tenderer/s do hereby state that, I/We have read the entire
terms and conditions of the Tender document and advertisement and
understood them fully and have carried out our own due diligence. I/We,
hereby unconditionally agree to conform with and to be bound by the
said terms and conditions. I/We further declare that I/We intend to
purchase the Movable Assets of Uma Maheshwari Mills Ltd(in
Liquidation) available at plot Nos.86-89, SIPCOT Industrial Estate,
Bangalore Main Road, District Hosur, in state of Tamil Nadu for our own
use / business and that the information revealed by me / us in the
Tender document is true and correct to the best of my / our belief. I / We
agree that if any of the statement / information revealed by me / us is
found to be incorrect and / or untrue, the Tender submitted by me / us
is liable to be cancelled and the SASF is at liberty to annul the offer made
to me. In case our Tender for purchase of Movable Assets is accepted by
the Stressed Assets Stabilization Fund (SASF) and I / We fail to accept
the terms & conditions of the sale or am / are not able to complete the
transaction within the specified period for any reason whatsoever and/or
fail to fulfill any / all the terms & conditions of the Tender documents
and the Earnest Money Deposit and any other monies paid by me/us are
liable to be forfeited and that SASF has also a right to proceed against
me/us for specific performance of the contract.
Yours faithfully,
(M/s. ……………………………….)
Signature of Tenderer
Name of Tenderer
:
Address Office
:
Residence
:
Tel.No. Office & Res. :
Fax No.
:
E-Mail address
:
Mobile No.
:
13
Annexure – IV
CERTIFICATE OF SALE
(FOR MOVABLE PROPERTIES)
Pursuant to the order dated July 23, 2013 passed by Hon‟ble High Court of Judicature,
Madras in CP. No. 173/2001, the undersigned being the Authorised Officer of the
Stressed Assets Stabilization Fund, having its principle office at 5th Floor, IDBI
Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005 has in consideration of the
payment of Rs. ………(Rupees ………………………………..) sold on behalf of
Stressed Assets Stabilization Fund [hereinafter collectively referred to as "the Secured
Creditor" in favour of ………..(purchaser), the following movable property (major
part) secured in favour of the Secured Creditors on first charge basis by Uma
Maheshwari Mills Ltd (in Liq), a company registered under the Companies Act, 1956
having its Registered Office at 5/239, State Bank Colony No 2, Salem 636004 and
towards the financial facilities extended by IDBI (Since assigned to SASF) & (some
part) allegedly to be with Cholamandalam DBS Finance Limited.
The delivery and possession of the items listed below has been handed over to the
above said purchaser.
Sd/
(Mr Nitin Sawant )
Authorised Officer
Stressed Assets Stabilization Fund
Date :
Place : Mumbai
Encl: List of movable properties
14