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PARTICULARS AND CONDITIONS OF SALE BY AUCTION OF MOVABLE PROPERTY

      This movable property detailed in the Schedule below belongs to Sri Rajesh Verma, S/o Shri Mahesh Verma, R/o Lendi Baugh Complex, Near Sub-Registrar Office, Kurnool – 518 003, and is put up for sale by public auction on the 20th day of June, 2025 at the hour of 11:00 A.M. by the Auctioneers at LandMark Consultancy Services, Kurnool at the instance of M/s. LandMark Consultancy Services, under authority granted by the Hypothecation Deed executed by the said Sri Rajesh Verma (hereinafter called the Lender).

SCHEDULE OF THE MOVABLE PROPERTY

  1. Laptop Dell Inspiron 15, Serial No. DL123456
  2. Office Furniture (Five Chairs and Two Desks)
  3. Air Conditioner, Model LG Split AC 1.5 Ton
  4. Xerox Machine, Model Canon X123
  5. Filing Cabinets (Two Units)
  6. Office Printer, HP LaserJet Pro M404dn

The prospective purchasers are free to examine the aforesaid items on 18th June 2025 between 10:00 A.M. and 5:00 P.M.

CONDITIONS OF SALE OF THE PROPERTY DETAILED IN THE SCHEDULE:

  1. The property shall not be sold for a sum less than the reserve price fixed by the auctioneers.
  2. No bidder shall be permitted to retract his bid once submitted.
  3. The auctioneers reserve the right to accept the highest bid as a sufficient offer at their discretion.
  4. In case of any dispute arising regarding the last bid, the property shall be put up for resale.
  5. At the conclusion of the sale, the purchaser shall pay the entire sale consideration to the auctioneers immediately, either in cash or by bank draft. Failure to do so will result in the property being resold at the cost and expense of the defaulting purchaser.
  6. Upon payment of the sale consideration, the property shall be delivered to the purchaser at his own expense and strictly on an “as is where is” basis, without any warranty or guarantee regarding the quality or quantity of the goods.
  7. The prospective purchaser shall satisfy himself as to the identity and description of the property. Any error, misstatement, or omission made during the sale process prior to bidding shall not annul the sale, and the purchaser shall be deemed to have waived all such objections.
  8. The property sold shall be removed by the purchaser at his own expense immediately after certification of the sale, for which the auctioneers will act as soon as possible.
  9. The Lender, M/s. LandMark Consultancy Services, loaned out a sum of Rs. 5,00,000 to the Borrower in consideration of which the Borrower executed a Hypothecation Deed dated 1st January 2024, transferring and assigning the aforesaid tangible movable assets as security in favor of the Lender.
  10. The Borrower agreed to repay the loan amount with interest on or before 30th April 2025. The Borrower defaulted on repayment and breached the terms of the Hypothecation Deed repeatedly. Consequently, the Lender is entitled to sell the property by public auction.
  11. An amount of Rs. 5,50,000 (including interest) is due and payable by the Borrower. The Auctioneers have been authorized by the Lender to conduct the public auction of the said property.
  12. Under authority and on behalf of the Lender, the Auctioneers hereby put the aforesaid property up for sale by public auction.

Dated this 10th day of June, 2025

Auctioneer