About Bank Auctions and NPAs
|
Know what are Bank Auction Properties, Stressed Assets, NPAs and their Sale
EVERYTHING YOU NEED TO KNOW ABOUT BANK AUCTIONS
Chapter-V of the DRT Act empowers the Recovery Officer of a Tribunal to auction the properties mentioned in the schedule to the Recovery Certificate. The recovery procedure is governed by the procedures prescribed in IInd and the IIIrd schedules of the Income Tax Act as well as the Income Tax (Certificate Proceding) Rules. See Rules
Properties are also brought to Auction - Sale by Authorised Officers of the Bank under:-
- The SRFAESI Act
- The State Financial Corporation Act
- The Official Liquidators appointed by the Company Bench of the High Courts,as well as other procedures of law.
Disposal of the properties is generally by Auction, but not necessarily the only mode. Sales by negotiations is also followed.
Properties are put up for Auction-Sales not because they are junk, but due to requirement of law. Some of the properties/industries are excellent investment opportunities that comes once in a life time.
Please NOTE:
- Properties listed are held by the respective secured creditors. BankDRT does not hold any of the properties.
- Always contact the concerned authorized officer/ recovery Officer/ advocate commissioner who is responsible for the auction. Do not go through brokers, touts, agents or any intermediatries. You would be falling into a big trap.
- Buying properties at bank auctions is the best way to go forward, provided you know the rules and procedures. Learn and understand the rules, Play safe and earn money. Subscribe to BankDRT's Rules and procedures on auctions .
- BankDRT conducts an intensive one day capsule workshop for auction participants. If you are serious investor, you may like to participiate in the workshop. Click Here
- BankDRT has released a compendium on how to participate in bank auctions. This is a simple language easy to read book. This e-FAQ book will give you a lot of fine tips on what to look for in bank auctions. For details click here.
- If you need professional assistance for due-diligence, M&A, JV and other services for acquiring assets, team BankDRT will be happy to help you. Contact us. Send your query to info@bankdrt.com.
- To see 100s and 1000s of more assets on auction across the country, click here.
- For any assistance in M&A or OTS, CDR etc, click here
- For any query on auction assistance, click here
- For FAQ on DRT and Auction Procedures, click here
|
|
|
