Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:609886
Bank Name:Indian Overseas Bank
Branch Name:Asset Recovery Management Branch
Reserve Price:₹7,35,76,170
EMD:₹73,57,617
Bid Increment:₹2,00,000
Auction Time:11:00 AM to 01:00 PM
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-17
Bid Start Date:2025-11-17
Property Description
This auction features a significant land and building asset located in Coimbatore North Taluk, Coimbatore, Tamil Nadu. As a residential property, it presents a prime opportunity for development or investment within a thriving urban area. The property is being auctioned by the Indian Overseas Bank under the SARFAESI Act. Detailed site inspection is recommended for interested parties to fully assess the potential of this valuable real estate holding.
State:Tamil Nadu
City:Coimbatore
Area:Coimbatore North Taluk
Asset Category:Residential
Full Address:500, S.F Nos 558/1A 558/24 557/30 556/4, Door No.500, Mettupalayam Road, Press Colony, Chinnamathampalayam, Bilichi Village Panchayat, Coimbatore North Taluk, Coimbatore District-641104, Chinnamathampalayam, Coimbatore
Size:3.04 Acre
Auction Description
Indian Overseas Bank is conducting a SARFAESI auction for a land and building property in Coimbatore North Taluk, Coimbatore, Tamil Nadu. The auction will take place on November 17, 2025, from 11:00 AM to 01:00 PM. The reserve price for this asset is ₹7,35,76,170, with an Earnest Money Deposit (EMD) of ₹73,57,617 required to participate. This is a unique chance to acquire a substantial property through a transparent auction process overseen by the bank.
Borrower Name:M/s Platinum Textiles Limited
Auction Type:SARFAESI Auction
Guarantor Names:Mr. Chirag Pittie, M/s Ooty Mills Private Limited, M/s Aswini Krishnaa Textiles Private Limited, M/s Citron Infraprojects Limited, M/s SVP Textiles Ventures Private Limited, M/s Shri Vallabh Pittie Enterprises Private Limited
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Exactly known to Bank
Why This Property
The property is an industrial land and building in Coimbatore, presenting a calculated opportunity. The reserve price is relatively high. Due diligence is crucial due to 'As is where is' sale condition and potential encumbrances.
Contact Details
Branch:Branch Office : Asset Recovery Management Branch
Service Provider:BAANKNET
Contact Details:
KANAGA PRATHAP SINGH D
Contact no:+919003175395
