INDIAN OVERSEAS BANK -COLOMBO MAIN BRANCH Sale under Section 4 or the Recovery or<(}> Loans by Banks
(Special Provisions) Act, No.4 or 1990

AUCTION SALE OF VALUABLE COMMERCIAL PROPERT

ALL that divided and defined allotment of land, stores and premises depicted as Lot 2 in Survey Plan No.2621 dated the 23rd May, 1980 made by H. Anil Peiris, Licensed Surveyor presently bearing Assessment No.432, Sri Sangaraja Mawatha, formerly Skinners Road, South in Ward No. 12 (New Bazaar) within the Municipality and District of Colombo Western Province. (Land in extent OA.,IR.,25.26P.)

(The property belonging to Mini Development and Construction Company Limited a Company duly incorporated under the Companies Laws of Sri Lanka and having its registered office at No.283, Layards Broadway, Grandpass, Colombo 14, as the Principal Debtor/Obligor as Surety/Mortgagor have made default in payment of monies due on primary Mortgage Bond No: 1975 dated 17th November, 1982, attested by Kanagasabai Kandiah, Notary Public of Colombo.)

Under the Authority granted to me by the Indian Overseas Bank, I shall sell by Public Auction the above mentioned property on Monday, 06th August, 2001 commencing 10.00 a.m. at the spot.

For Notice of Resolution please refer Government Gazette of 09.03.200(the "Daily News", "Dinamina" and "Thinakaran" of 10.03.2001 and Notice of Sale in the Government Gazette of 13.07.2001.

Mode of Payment.:

1. 10% of the Purchase Price at the fall of the Hammer;

2. Balance 90% of the Purchase Price within 30 working days of the Sale;

3. 1% (One per cent) local sales tax payable to the local Authority;

4. Auctioneer's Commission of 2 112% (Two and a half per cent) of the Sale Price;

5. 50% of the Total Cost of Advertising not exceeding Rs. 32,200;

6. Clerk's and Crier's Fee Rs. 500;

7. Notary's Attestation Fees for Conditions of sale Rs. 2,500.

Title Deeds and other connected Documents may be inspected and obtained from the Country Head, Indian Overseas Bank, No.139, Main Street, Colombo 11.

Telephone: 324422 - 4, 445390.

DUNSTAN AND DALLAS KELAART,

Court Commissioners and Brokers,

Specialist Auctioneers,

Appraisers and Realtors.

No.381 1/1,

Galle Road, Colombo 4.

Telephone: 591167

Phone/Fax: 584874, 500838

Hot Line: 0722-50422 07-362
