KITINDI & COMPANY LIMITED
AUCTION MART & GRNRRAL BROKERS
PUBLIC AUCTION OF LOAN DEFAULTERS OF TIB DEVELOPMENT BANK LTD (FORMALLY, TIB INVESTMENT BANK LIMITED)
We have instructed or client TIB DEVELOPMENT BANK LTD to sell the mortgage properties by public auction which are located Mwanza (see further details in the table below). The auction will be conducted on the date and time specified in the table below
| NO | NAME OF DEBTOR | SECURITY/MORTAGAGE | DATE &TIME |
| 1 | Mappena Investment LTD P.O. BOX 10944 MWANZA | – CT No. 25090 I.R Mwanza Plot No 166, Block a Mkoloni area Mwanza INO Modest Urban Mtui – CT No. 52524 lr Mwanza Plot No 162,163,164 Block A Mkoloni Area Mwanza I.N.O Mapena Investment LTD | Date 19/03/2020 on Thursday Time 10:00 am Date 19/03/2020 on Thursday Time 10:00 am |
TERM SOF CONDITION
i. The highest bidder shall pay cash or banker cheque being 25% down payment purchase price just after the fall of the hammer. All payment should be paid direct to TIB Bank limited account
ii. The remaining balance 75% shall also be paid within 14 days from the date of auction. Non-compliance with the above terms 25% down payment made will be forfeited and the auction be repeated
iii. Successful bidders shall be given ownership document and shall be allowed to take possession of the property bought under auction only after payment of 100% of auction/purchase price
iv. The funds should be deposited into the bank account no 004200000100001 in the name of TIB Development bank LTD maintained at TIB Corporate Bank LTD at any branch into the bank’s account no 011103020007 in the name of TIB Bank LTD maintained at National Bank of Commerce
v. Transfer of ownership costs shall be borne by the buyer
vi. Interested bidders shall be allowed to insect the properties seven days before the auction date
For the further information the interested parties may contact
MANAGING DIRECTOR
KITINDI & COMPANY LTD,
MACHINGA COMPLEX BUILDING 3RD FLOOR
ALONG LINDI/KAWAWA
P.O. BOX 61830
DAR ES SALAAM
MOB: 0713-350806/0787-508334/0767-508334
OR
MANGING DIRECTOR,
TIB DEVELOPMENT BANK LIMITED,
P.O. BOX 9373
DAR ES SALAAM
MLIMAN CITY Samu na Mujoma Road
Telephone +255 222 2411095
Source Daily News 27 February 2020
