New Delhi, Dec 20 (IANS): State Bank of India (SBI) is holding a mega e-auction of properties on December 30.

SBI said in a tweet , "Looking for properties to invest? ! Register for SBI Mega E-Auction".

SBI puts up the mortgage properties (like Residential properties / Commercial properties. etc.) of defaulters to recover the Bank dues. For this purpose respective Branches of the SBI publishes the advertisement in the leading newspapers (English and Vernacular). The advertisements are also published in Social Media (like Twitter, Facebook, Instagram, etc.).

This advertisement contains the details of web sites where the prospective bidders can access the particulars of locations of the properties with full details. It also guides the prospective bidders on the pre-requirements for participating in e-auction.

SBI said it is 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," it said.

The details of such properties put up for e-auctions may be accessed through the links provided in the advertisement. There is a designated contact person also for auction at the Branches whom prospective Buyers may approach for any clarification regarding the auction process and the property he /she is interested in and may inspect the properties of their interest.

The requirements for participating in the auction are 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 have to login and bid during the auction hours on the date of e-Auction as per auction rules.