MS Scrap of Chimney, MS angels & Sheets – App

Specification

Item Id	990
Category	MS Scrap of Chimney, MS angels & Sheets – App
Manufacture name	insured- Grasim Industries Ltd.
Model name	MS Scrap of Chimney, MS angels & Sheets – Appox. 25 MT
Model number	2023
Production date	01-Sep-2023
Location	Birlagram Nagda, Ujjain, Madhya Pradesh
Market Maker	meenakshi@salvagemanagers.com
Sound Invoice Value	Rs. 6,12,000.00 / MT
Quantity	25 MT
Sound Invoice Lot Value	Rs. 1,53,00,000.00
Reserve Price	Rs. 18,000.00 / MT
Reserve Price Lot Value	Rs. 4,50,000.00

Remaining Time

Ongoing Lot Bid	Rs. 0.00
Current Bid	Rs. 0.00 / MT
Incremental Bid	/ MT
Next Minimum Bid	/ MT

Expired

Details

Brief Material description– MS Scrap – 25 MT

Qty -1. MS Chimney approx. Weight ~20 MT.

2. TIN Shed and MS Angle ~5 MT.

Invoice Value: Rs. 1.53 CR.

Reserve Rate: Rs. 25,000/-per MT (Taxes extra) Incremental Bid–Rs. 1000/-

A. Special Conditions/Commercial Terms of this E-Auction:

(These conditions override or supplement general T&C of this participation form)

Disposal of the above material is being held on following
special conditions specific
to this E- Auction:-

1.
Basis of sale: The sale of offered
goods for Per MT basis exclusive of applicable GST

2.
Deposits and Lifting: After depositing 100% advance payment apart of security
deposits H1 shall be allowed to start lifting and post to 100% payment shall be allowed to clear the
lot awarded to them. The seller has indicated
that the site can be cleared within a period of 10-12 working days. Any delay in doing the same, H1 shall be liable
to pay ground rent as directed
by the seller.

3.
Incidental charges: All charges incidental to loading and lifting of
material will be borne by the H1 Buyer.

4.
Dynamic Time: The eAuction shall automatically extend by 05 MINUTES in case someone
enters a bid in the last one minute of
the remaining time in closure of auction.
This shall continue indefinitely until no one bids in the last one minute of
the time remaining. Bids in dynamic
time can be placed by 50%
of incremental bid value.

5.
Participation/Facilitation Fee = Rs. 500/- + GST

6.
Information on invoicing: GST certificate, cancelled cheque, Pan card/Adhaar Card copy

7.
Information on Taxes applicable: GST@18% & Tcs@1%

21.The materials offered are
damaged goods under insurance claim hence being offered for sale on “As is Where is Basis”, “Whatever
There is Basis,” and “No complaint” basis. No
complaints whatsoever will be entertained after the bid is made. The bidder is deemed to have inspected, examined reasonably and satisfied himself as
to all matters regarding condition,
type, quality, and quantity. Rule of “Caveat Emptor” applies strictly.

21. Earnest Money Deposit (EMD) Information:

21.1. Security deposit is always 10% of the final bid amount. H1 is required
to complete security deposit amount before lifting of material & obligate & validate
as per T&C of seller.

21.2. Interested
buyers must pre-qualifying themselves for participation in the above auction, by paying a pre-bid amount / EMD
of Rs.1,00,000/-(One Lakh) by mode of RTGS to the following account
along with this E-Auction form duly filled & signed.

Adwiti
Technocrats Pvt. Ltd

Account no. 916020025588082, IFSC Code: UTIB0004770

Axis Bank Limited.
Sector- 27, Noida,
U.P.

21.3. The pre-bid / EMD and
eAuction form to be deposited in physical form or electronic form (NEFT + scanned form of EMD) to the latest by previous
day of e-Auction.

21.4.
The EMD will not attract any interest & will be dealt with as per
the procedure mentioned below:-

21.4.1.
Wherever EMD is held by us, we are responsible for the return
release. Seller or MOA has no
role of EMD forfeiting/retention for H3 & below. Security deposit
is at discretion and instructions of the seller.

21.4.2.
In case of unsuccessful bidders, (H3 & Lower) EMD is refunded immediately after adjusting the facilitation fee, but
not later than 7-10 working days from the completion of the E-Auction
process subject to the terms and conditions mentioned herein and at the website. EMD holder
to ensure the compliance.

21.4.3.
EMD of the H2 bidder shall be normally retained for 10 days from the
date of approval of E-Auction. However
please refer point no. 28.4.1 above.

i. The status of H1 bidder will
be upgraded/ confirmed as ‘H1 Buyer’ deposit an amount security deposit equal
to 10% of the total value of the work
order within 24 hours of the receipt of Letter of acceptance of tender. He will be allowed lifting
after depositing 100% payment in next 3 days.

ii. If the H1 bidder fails to deposit minimum 10% payment of the final bid value, within 24 hours after he is
declared H1 bidder, his EMD will be forfeited
and H2 bidder will be upgraded to status of H1 and has to honor the deal at the H2 bid value with
privileges and penalties of H1 bidder.

21.4.4. The EMD of H1 bidder will be
adjusted once the complete payment is received
by the seller and also complete material
is lifted by H1 bidder. Also
adjustment will be done for fee and expenses against EMD if the seller or MOA has not paid for the same.

21.4.5. In case of “Buyer’s
Non-performance” the EMD may still be forfeited. Opportunity may be given to H2.

21.4.6.
In case “Seller’s Non-performance” the E-Auction may be canceled with total cost to be recovered
from seller. MOA to decide the course of action.

21.4.7.
“Non-performance” may be encountered wherever T&C of this document and seller NOC are breached. The
E-Auctioneer may decide on such cases under
consultation of MOA. Some
example scenarios are as under:

Contact Salvage Manager about this items/lot.
Phone :	Meenakshi -9625137014/Sidharth-9717506330
Email :	meenakshi@salvagemanagers.com