Daijiworld Media Network - Udupi (SP)

Udupi, Aug 29: Karnataka Bank's Adi Udupi branch has published a public notice expressing its intention to auction properties belonging to entrepreneur Bhaskar Shetty, who was reportedly killed in a barbaric fashion. It transpires that Shetty had raised three loans by mortgaging his properties. As the liabilities have not been cleared, the bank had impounded these properties. Now, the bank has expressed its intention to sell them by way of auction two of the prime properties for which bids have been invited.

One of the properties going under hammer happens to be M/s Durga International near city bus stand, Udupi standing in the name of K S Bhaskar Shetty, his wife Rajeshwari B Shetty, son Navneet B Shetty and Bhaskar Shetty's mother Gulabi Shetty.

(L to R): Navneet Shetty, Bhaskar Shetty and Rajeshwari Shetty

Reserve price for the commercial property standing on 43 cents land in Udupi Moodanidambur village planned to be auctioned has been put at Rs 7.22 crore. Another 40 cents converted land belonging to Bhaskar Shetty at Sagri ward, Shivalli village, also has been planned to be auctioned. Reserve price for the same has been mentioned as Rs 1.31 crore. Liability outstanding against the properties has been mentioned as Rs 2.2 crore.