Auction Ghar is India’s No.1 bank auction properties platform. At Auction Ghar we deal in wide range of auction properties of banks, Home Finance Cos and NBFCs. The customer will have the choice to choose from these properties. We deal in verified properties only.
Banks and Financial Institutions provide loans to customers for purchase of residential properties, commercial properties, lands, and movable properties like automobiles etc., and to meet working capital requirements of Large, Small & Medium businesses. At the time of giving loans, banks & financial institutions insist for hypothecation or mortgage of properties as collateral security. This is to secure the loans with a condition that the borrowers have to promptly service their EMI/Interest as per the sanction terms and conditions.
In some circumstances the borrowers fail to repay the outstanding dues in spite of reminders owing to various internal and external financial conditions. The loan accounts of such borrowers are classified as NPA(Non-Performing Assets) as per RBI Norms and the properties are repossessed and put up for auction sale.
Every year, thousands of properties are auctioned across India by Banks, Housing Finance Cos, NBFCs, Financial Institutions to recover their bad loans. The properties hypothecated or mortgaged are taken into possession by the Authorised Officers appointed by the lenders in exercise of powers conferred through SARFAESI Act. The properties are thereafter put up for auction sale by way of Public Auction Sale Notice.
Benefits of Auction assets:
Johnson, is a banking professional with two decades of corporate experience. Having worked from Retail, SME, Corporate, Investment and Merchant Banking and spanning from Sales, Credit to Collection, he has a 360 degree approach to banking and finance.
Being an MBA in Finance (JBIMS), a Law Graduate, with JAIIB and CAIIB certifications, Johnson has over two decades of customer facing banking experience. He is a lifelong learner and has just completed his Doctorate (PhD) in April 2022. His fascination and excitement is towards being ‘solution oriented’ and that has shaped his overall career.
With rich corporate experience of 23 years as an all-round banking professional, which included heading branches at multiple places, Johnson quit his last assignment as a National Head – Legal Mortgage Collections, with the top Indian Multinational Bank so as to pursue his passion.
He is now a subject matter expert in domains related to Auction Properties, Home Loans, Property Loans, Laws related to Mortgage Finance, Mortgaged backed Structured Products and Real Estate Project Funding.
He has delivered programs for ICICI Bank, Axis Bank, Aadhar Home Finance, Kotak Bank, Mahindra Insurance Brokers, Bajaj Allianz General Insurance, to name a few.
He is married to Saroja and is blessed with two kids.
Johnson MenezesCHIEF STRATEGY OFFICER
Charles is a Banking Professional with successful track record of exceeding targets under diverse market conditions with over 26 years of varied work experience in the field of Banking, Retail assets, Loans,Insurance & Training, Real Estate, Service Industry and Human Resources. Charles has the capability to identify bottlenecks in any operation and bringing about persistent changes. Created and sustained highly motivated teams with proactive abilities.
Charles is a Post Graduate in Public Administration from Chennai and has been actively involved in music from a very young age. His music ministry is a clear reflection of his interest in music and passion for God’s work.
Charles is married to Kavitha, a HR professional and the couple is blessed with two children
Charles JayaseelanCHIEF BUSINESS OFFICER
Sudapalli JP Rao
Sudapalli Jaya Prasad Rao is an experienced Banking professional with 15 years of rich experience in Product Management, Loan Sales, Relationship, Collections.
Some of the loan products handled are Working Capital Loan (Overdraft, Cash Credit), Mortgage Loans, Farm Equipment Loans. He was instrumental in scaling the business loans of ICICI Bank in Agri sector during 2004-2006 in the Southern States to 1200%. Later years in ICICI Bank, he has worked in Mortgage Loans and Farm Equipment Loans in Relationship and Debt Management Teams in Southern states and Eastern States and has contributed in NPA recoveries, reducing NPA flows.
He is awarded with the prestigious DNA Award for Sensitivity for the Year 2017-18, the highest level of recognition at ICICI Bank for the skills in managing large teams
He has Masters in International Business from premier B-School, Indian Institute of Foreign Trade(IIFT). In the initial years, he has worked with renowned Trading Cos for around 3 Years in International Business dealing in Electronics,
Sudapalli JP RaoINDEPENDENT DIRECTOR
To create the most compelling auction platform of the 21st century based on the foundation of knowledge, technology and innovation.
Founded by ex-bankers with a rebellious spirit and lofty objectives. To offer properties at revolutionary price, thereby getting in about liquidity for socially and economically conscious businesses.
To unlock the realistic worth of all assets by creating value to all stake holders, including prospective buyers, sellers and institutions.
We believe that buying auction properties should be easy and smooth. It should leave you happy and satisfied, with substantial savings for your pockets.
We have been founded on the belief that circumstances shouldn’t erode the value of the assets. Our goal is to change the way people think about auctions by delivering value addition and experience at radically fair prices.
There has been a paradigm shift in the customer’s perceptive about auction assets. Increasingly more and more customers are showing interest in purchase of auction properties. However the recoveries through Auction Sale is low. The financial institutions have been struggling to recover the total outstanding dues through auction sale.
Auction Ghar, part of the Good Rock Technology Services company where the team of Banking experts understand the challenges both the financial institutions and propspective buyers are facing in the entire auction sale process.
The Founding Members at Auction Ghar with their vast experience of around 15 years in Banking, Finance and deeper understanding of the liquidation process of various assets have come together to help Banks, Housing Finance Cos, NBFCs and customers in unlocking the real value of the underlying assets through Technology and services. Some of the services that are provided by Auction Ghar are:
Auction Ghar offers wide range of auction properties, vehicles, etc., with a whole bouquet of comprehensively tailored services to help buyers fulfil their dreams of owning a property or assets at affordable prices. Our years of research and expertise in the financial sector help us provide our clients, ie., Banks, HFCs, NBFCs, extended services in easy selling of the distressed assets every time with better realization in every sale through a transparent and verified process.