Mustard Seeds - 311.725 MT at Narnaul Haryana

Specification

Item Id	820
Category	Mustard Seeds - 311.725 MT at Narnaul Haryana
Manufacture name	M/s Hafed Oil Mill
Model name	Mustard Seeds - 311.725
Model number	2022
Production date	17-Mar-2022
Location	Narnaul, Narnaul, Haryana
Market Maker	meenakshi@salvagemanagers.com
Sound Invoice Value	Rs. 53,350.00 / MT
Quantity	311.725 MT
Sound Invoice Lot Value	Rs. 1,66,30,528.75
Reserve Price	Rs. 33,000.00 / MT
Reserve Price Lot Value	Rs. 1,02,86,925.00

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- Mustard Seeds

Qty. – 7037 Bags (3, 11,725 Kgs. Or 311.725 MT)

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 is Per MT basis exclusive of
applicable GST/ taxes

2. Deposits and
Lifting: After depositing 50% advance payment 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 to 15 working days from the date of
receipt of delivery order by H1. Any delay in doing the same, H1 shall be
liable to pay ground rent for the salvage quantity uplifted
and yet remaining at site. The rates charged would be Rs. 1000 per MT per day.

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. 1000/- + GST

6. Information on
invoicing: GST Certificate, Pan Card, Cancelled cheque copy

7. Information on
Taxes applicable: GST@ 5%

8. Additional
information on usage of salvaged goods / Brand Clause etc: NA

9.The materials offered are
damaged goods under insurance claim hence being offered for sale on “As is
Where is”, “Whatever there is” 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.

10. Earnest Money
Deposit ( EMD) Information:

1.1. EMD is always 10%
of the final bid amount. To facilitate participation of more buyers, we
(E-Auctioneer and MOA) may allow participation at a lower amount than mandatory
10%. However H1 is required to complete EMD amount within 24 hours of auction
close.

1.2. Interested buyers must pre-qualify
themselves for participation in the above auction, by paying a pre-bid amount /
EMD of 10, 00,000/- (Ten Lakh Only) 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.

1.3. 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.

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

1.4.1. 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. EMD of H1 & H2 is at
discretion and instructions of the seller and MOA.

1.4.2. 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.

1.4.3. EMD of the H2
bidder shall be normally retain for 10 days from the date of approval of
E-Auction. However please refer point no. 8.4.1 above.

1.4.4.

8.4.4.1 The status of H1
bidder will be upgraded to H1 Buyer after receipt of 10% EMD and 25% advance
payment within 48 hours of approval. He will be allowed lifting after
depositing additional 25% i.e. 50% of the lot payment +EMD 10%

8.4.4.2 If the H1 bidder
fails to deposit minimum 25% payment (apart from 10% EMD) of the final bid
value, within 2 days after he is declared H1 bidder, his EMD will be
forfeited and H2 bidder will be upgraded to status of H1 and has to honour
the deal at the H2 bid value with privileges and penalties of H1 bidder.

1.4.5. 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.

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