State Bank of India will hold electronic sale or e-auction of its commercial and residential properties today. The bank is selling properties of defaulters to recover bank dues. The bank also ran several advertisements of the sale on different social media platforms.
"We at SBI are very transparent when putting immovable properties, mortgaged with the Bank / attached by Court order to auction, by furnishing all the relevant details that can make it an attractive proposition for bidders to participate in the auctions," the SBI said in a statement.
The advertisement contains details of websites where the prospective bidders can access the location and other details of the properties. It also guides the prospective bidders on the pre-requirements for participating in the e-auction.
The SBI also said, "We also incorporate all relevant details and state whether the same is freehold or leasehold, give its measurement, location etc., including other relevant details in the public notices issued for auctioning."
SBI has listed the following requirements:
Here's how to participate:
The SBI website provides several links containing more information on properties and the bidding website.
C1 INDIA Pvt. Ltd. : www.bankeauctions.com/Sbi
E-Procurement Technologies Limited: sbi.auctiontiger.net/EPROC/
For displaying of the properties: ibapi.in
For auction platform: www.mstcecommerce.com/auctionhome/ibapi/index.jsp
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