1. This is concerning a commercial building.
2. Plot was purchased by two brothers who are Director for a company (Narayanaa Electrical solutions pvt ltd).
3. In 2009 the company takes a loan of 12CR from centurion bank and directors give personal guarantee pledging their properties.
3. Loan becomes NPA and further, the Centurion bank merges with HDFC
4. In 2013, Owners request for OTS to pay 50L to HDFC and they are granted OTS for 7.5 cr to be settled in 30 days. Unfortunately, Owners could not pay the OTS to release the property.
5. After enough fight, in 2019 HDFC proceeds to liquidate the company and does so and also takes full possession of the properties owned by the Director
6. Bank is preparing for auction and the reserve price is 3CR on this property
7. I am willing to buy this and I contacted the bank as well as the owners. Bank wants 3CR and the owner is willing to sell for 3.4 cr.
9. I will pay 3cr to the bank and 40 lacs to the owner to come to the sub-register office execute the deed.
10. Since it's 2013 case, no other EC could be found.
11. Is this safe to buy this property