Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.5
Auction ID:613263
Bank Name:Canara Bank
Branch Name:ARM Branch
Reserve Price:₹41,18,000
EMD:₹4,58,000
Bid Increment:₹100
Auction Time:11.00 AM to 11.30 AM
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-21
Bid Start Date:2025-11-24
Property Description
This is a SARFAESI auction by Canara Bank for scrap, plant, and machinery located in M G Road, Bengaluru, Karnataka. The assets include various types of machinery, sold in 'as is, where is' condition. This is a liquidation of assets from M/s. Lakshminarayanaswamy M Sand.
State:Karnataka
City:Bengaluru
Area:M G Road
Asset Category:Scrap, Plant & Machinery
Full Address:Door No. 130/4, 80 Feet Road, KHB Colony, Basaveshwara Nagar, Basaveshwara Nagar, Bengaluru
Auction Description
Canara Bank is conducting an online SARFAESI auction for scrap, plant, and machinery. The auction will take place on November 24, 2025, from 11:00 AM to 11:30 AM. The reserve price is ₹41,18,000, with an Earnest Money Deposit (EMD) of ₹4,58,000. Interested bidders are encouraged to inspect the assets and review all terms and conditions before participating.
Borrower Name:M/s. Lakshminarayanaswamy M Sand
Auction Type:SARFAESI Auction
Guarantor Names:Mr. Lakshmanappa M R, Mrs. Parvathamma
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not to the knowledge of the Bank
Why This Property
This generator set presents a calculated opportunity due to its industrial application and the need to assess its operational condition. The reserve price seems reasonable; however, a thorough inspection is crucial. The location in Bengaluru adds value, but the specific market demand for such machinery needs to be evaluated.
Contact Details
Branch:Branch Office : ARM Branch
Service Provider:BAANKNET
Contact Details:
Contact no:080-25310066
