Canara Bank Plant & Machinery Auction in Hatlimorth, Kathua

This auction features Lot-II, which includes substantial plant and machinery assets belonging to M/s Chenab Industries Pvt. Ltd. The assets are located in Hatlimorth, within the Kathua district of Jammu and Kashmir. This property falls under the category of scrap, plant, and machinery, indicating its potential for resale, industrial use, or as a source of valuable components. While specific details about the types and condition of the machinery are best ascertained through direct inspection or by consulting the sale notice (if available), the location in Kathua, Jammu and Kashmir, suggests potential industrial or manufacturing utility within the region. For new buyers, understanding the nature of 'plant and machinery' assets is crucial, as they may require specialized knowledge for valuation, dismantling, or repurposing. The reserve price for this lot is ₹1,33,00,000, with an EMD of ₹13,30,000, reflecting the significant investment involved. Interested parties should conduct thorough due diligence on the assets before participating in the auction.

This SARFAESI auction presents a unique opportunity to acquire Lot-II, comprising plant and machinery, through Canara Bank. The auction is scheduled to commence on July 31, 2025, at 11:30 AM and will conclude at 12:30 PM on the same day. A key requirement for participation is the submission of the application by July 30, 2025, by 5:00 PM. The earnest money deposit (EMD) is set at ₹13,30,000, representing 10% of the reserve price, which stands at ₹1,33,00,000. This auction is being conducted online via BAANKNET, a recognized service provider. For any inquiries regarding the auction process or the specific assets, interested buyers are encouraged to contact the RECOVERY & LEGAL SECTION of Canara Bank and reach out to Sh. Manoj S.R., Assistant General Manager, at 0172-2601664 or 8727971300. Prospective bidders are advised to thoroughly review all auction terms and conditions prior to submitting their bids.