Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:613264
Bank Name:Canara Bank
Branch Name:ARM Branch
Reserve Price:₹83,70,000
EMD:₹8,37,000
Bid Increment:₹1
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 auction features a valuable lot of plant and machinery located in the prime M G Road area of Bengaluru, Karnataka. The assets, belonging to M/s. Lakshminarayanaswamy M Sand, are categorized as scrap and present a significant opportunity for buyers in the machinery sector. The property is being auctioned by Canara Bank.
State:Karnataka
City:Bengaluru
Area:M G Road
Asset Category:Scrap, Plant & Machinery
Full Address:Spencers Tower, M G Road, Bengaluru
Building/Society:Spencers Tower
Auction Description
Canara Bank is conducting a SARFAESI auction for scrap plant and machinery on November 24, 2025. The auction will take place online from 11:00 AM to 11:30 AM. The reserve price for this auction is ₹83,70,000, with an Earnest Money Deposit (EMD) of ₹8,37,000 required to participate. Don't miss this chance to acquire assets from a distressed borrower in Bengaluru.
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
The property, an industrial generator set, offers a specific utility. While not a prime property investment, the price point relative to potential industrial applications justifies a 'Calculated Opportunity' rating. The location in Bengaluru adds some value, but the specialized nature of the asset requires a careful assessment of market demand.
Contact Details
Branch:Branch Office : ARM Branch
Service Provider:BAANKNET
Contact Details:
Contact no:080-25310066
