Ring Frame machine–01 at Panipat, Haryana


Item Id 685
Category Ring Frame machine–01 at Panipat, Haryana
Manufacture name Lakshmi Machine Works
Model name LR9/AX, 960 Spindles
Model number 2013
Production date 01-Mar-2013
Location Panipat, Panipat, Haryana
Market Maker meenakshi@salvagemanagers.com
Sound Invoice Value Rs. 74,43,000.00 / Pieces
Quantity 1 Pieces
Sound Invoice Lot Value Rs. 74,43,000.00
Reserve Price Rs. 10,00,000.00 / Pieces
Reserve Price Lot Value Rs. 10,00,000.00
Remaining Time
Ongoing Lot Bid Rs. 0.00
Current Bid Rs. 0.00 / Pieces
Incremental Bid / Pieces
Next Minimum Bid / Pieces


Material description - Ring Frame machine

Make - Lakshmi Machine Works

Model: LR9/AX, 960 Spindles (MY:2013)

Qty – 01 Nos 

Term & Condition of e-Auction:

Disposal of the
above material is being sold on‘ As Is Where Is’, ‘Whatever There Is’ and ‘No
Complaint’ basis subject to the following condition:-


The sale of offered
goods is 
per Unit basis. 

NOTE: Please duly note the machinery
shown in the pictures shared is with overhead blower, as it is separate machine
and is not included with the damaged LR9 Ring frame

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 the 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

The Purchaser
(H1/H2) should remit 50% advance payment within 3 working days of receipt
of bank details/allotment order, from the
insured/seller/auctioneer, failing which their EMD will be forfeited.

post to 100%
advance payment, he shall be allowed to clear the lot awarded to him from
the site within a period of 7-10 working days from the date of
receipt of delivery order by him, failing which he have to pay ground
rent for the salvageable quantity a per sellers T&C or minimum of Rs.
2,000/-day or Rs 1000/-MT for space occupied by salvage material quantity.

The Auctioneer
reserves the right to reject any bid without assigning any reason to the bidder

The earnest money
deposit will not attract any interest & dealt with as per the Procedure
mentioned below:-

.  In case of
unsuccessful bidders, (H3 & Lower) EMD is refunded immediately after
adjusting facilitation fee of Rs. 500+GST but not later than 7 working days
from the completion of eAuction process subject to the terms and conditions
mentioned herein and at the website.

• EMD of the
H2 bidder shall be retained for 10 days from the date of
approval of eAuction. If the H1 bidder failed to deposit payment within
3-5 days his EMD will be forfeited and H2 bidder has to honor the
deal at the H2 bid value within the aforesaid period of 3 days.
Failing to which his EMD too will be forfeited.

• The EMD of
H1 will be adjusted once the complete payment is received by insured/seller and
also complete material is lifted by the H1 bidder. Also adjustment
will be done for fee and expenses.

• Since EMD is
held by auctioneer. They are responsible for the return release as
well. Surveyor, Insurer or Insured has no role of EMD forfeiting/retention for
H3 & below. EMD of H1 & H2 is at the seller's description.


The material shall be sold on “AS IS WHERE IS’ and "AS IS WHAT
IS" 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

The Salvage Managers or the
associated Loss Adjusters or Underwriters, being only the facilitators for
disposal of salvage, have no knowledge about the specific trade requirements
and shall bear no responsibility of any kind, in this regard of whatsoever

The website 
www.salvagemanagers.com is maintained by external
agency at external servers. Any problem while bidding or technological
glitches/problems may occur accidentally and such problems will be dealt in
order to complete the entire process smoothly. The surveyor’s decision in this
regard will be final as they have appointed us to bring transparency in the
system by e-Auctioning.

Ring Frame machine–01 at Panipat, Haryana Ring Frame machine–01 at Panipat, Haryana Ring Frame machine–01 at Panipat, Haryana Ring Frame machine–01 at Panipat, Haryana Ring Frame machine–01 at Panipat, Haryana
Contact Salvage Manager about this items/lot.
Phone :Meenakshi Gupta-9625137014
Email :meenakshi@salvagemanagers.com

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