SBI opens bids for mega e-auction of over 1000 properties: Date, requirement and more

New Delhi: India's largest lender State Bank of India (SBI) has announced that it has put up the mortgage properties including residential and commercial properties of defaulters for bidding to recover the Bank dues.

“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. 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 said in a statement.

Here are the requirements for participating in e-Auction as listed by SBI

• EMD for the particular property as mentioned in the e-Auction notice.
• KYC Documents - to be submitted to the concerned Branch.
• Valid Digital Signature -Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.
• Login Id and Password– Will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents to the concerned branch
• Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.

SBI said that there is designated contact person also for auction at the Branches whom prospective Buyers may approach to for any clarification regarding the auction process and the property he /she is interested in and may inspect the properties of their interest.

Bidders can also contact SBI partners at the following links for more information on properties and bidding.

    C1 INDIA Pvt. Ltd. : https://www.bankeauctions.com/Sbi
    e-Procurement Technologies Limited : https://sbi.auctiontiger.net/EPROC/