Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:610416
Bank Name:Canara Bank
Branch Name:ASSET RECOVERY MANAGEMENT BRANCH, COIMBATORE
Reserve Price:₹7,00,000
EMD:₹70,000
Bid Increment:₹1,00,000
Auction Time:11:30 AM to 12:30 PM
Service Provider:BAANKNET
Important Dates
Submission Date:19-11-2025 04:00 PM
Bid Start Date:2025-11-20
Property Description
This auction features plant and machinery located in Kumarapalayam, Coimbatore, Tamil Nadu. The assets, previously belonging to M/s. Sri Dhanalakshmi Textiles, are categorized as scrap, indicating they are for sale in their current state. This is an opportunity to acquire machinery suitable for repurposing or recycling.
State:Tamil Nadu
City:Coimbatore
Area:Kumarapalayam
Asset Category:Scrap, Plant & Machinery
Full Address:SF 381/3 & 382/2-40, Kuttaithottam, Kumarapalayam PO, Annur, Coimbatore 641 653. SF 381/3A, Kuttaithottam, Kumarapalayam PO, Annur, Coimbatore 641 653., Kumarapalayam, Coimbatore
Auction Description
Canara Bank is conducting a SARFAESI auction for scrap plant and machinery in Kumarapalayam, Coimbatore. The auction will take place on November 20, 2025, starting at 11:30 AM and concluding at 12:30 PM. The reserve price is set at ₹7,00,000, with an Earnest Money Deposit (EMD) of ₹70,000 required to participate. Bid on this machinery lot from a reputable bank.
Borrower Name:M/s. Sri Dhanalakshmi Textiles
Auction Type:SARFAESI Auction
Guarantor Names:Mrs. Geetha, Mr.Suren.R
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
The property, consisting of power loom machineries, presents a niche investment within the industrial sector. Located in Coimbatore, a textile hub, the reserve price is relatively low, but machinery can depreciate quickly so proper inspection is needed. Given the specialized nature and symbolic possession, it is classified as a calculated opportunity, requiring careful evaluation before investment.
Contact Details
Branch:Branch Office : ASSET RECOVERY MANAGEMENT BRANCH, COIMBATORE
Service Provider:BAANKNET
Contact Details:
Contact no:9489043584
