Know on which day the property auction will be held?
The bank is auctioning those properties which have come in the list of default. The bank is conducting mega e-auction on 23 July, 17 August and 15 September 2021 for the auction of these properties.
IOB is conducting Mega E-Auction on 23.07.2021, 17.08.2021 & 15.09.2021
Details of properties available on our website https://t.co/HxjTfQ1x4F —> Properties Available for Sale#IndianOverseasBank #IOBMegaEAuction pic.twitter.com/AIMnccCsnv
— Indian Overseas Bank (@IOBIndia) July 19, 2021
The bank tweeted
IOB has given information about this mega e-auction by tweeting. IOB tweeted and wrote – IOB is conducting Mega E-auction on 23rd July, 17th August and 15th September 2021. Property details are available on the bank’s website iob.in.
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The bidders will have to fulfill these conditions in advance-
>> REGISTRATION – The bidder will have to register on the E-Auction platform using his mobile number and email-id.
>> KYC VERIFICATION – After this, the bidders should upload the required KYC documents. Let us tell you that the KYC document will be verified by the E-Auction Service Provider. This may take at least two working days.
>> EMD Amount Transfer – After this, you will have to transfer the amount using the challan generated on the E-Auction platform. You can use NEFT / transfer or online / off-line transfer.
>> Bidding Process & Auction Result – The interested registered bidders after completing the first, second and third steps can place the bidding online on the E-Auction platform,
The bank conducts auctions from time to time
Let us tell you that the owners of the property have not repaid their loan. They have not been able to give for some reason, the land of all those people is taken over by the banks. Such properties are auctioned by banks from time to time. In this auction, the bank recovers its dues by selling the property.
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