Soot and water affected Stock of Apparels - 11990 pcs at New Delhi

Specification

Item Id	920
Category	Soot and water affected Stock of Apparels - 11990 pcs at New Delhi
Manufacture name	insured- Bindal Future Retail
Model name	Soot and water affected Stock of Apparels -
Model number	2023
Production date	14-May-2023
Location	J 6Block Rajouri Garden, New Delhi, Delhi
Market Maker	meenakshi@salvagemanagers.com
Sound Invoice Value	Rs. 1,83,21,497.00 / LOT
Quantity	1 LOT
Sound Invoice Lot Value	Rs. 1,83,21,497.00
Reserve Price	Rs. 8,00,000.00 / LOT
Reserve Price Lot Value	Rs. 8,00,000.00

Remaining Time

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

Expired

Details

Brief Material description– Soot and water affected Stock of Apparels -

Qty-11990 pcs (List Attached)

Invoice Value : Rs. 1,83,21,497/-

Reserve Rate: Rs. 8,00,000/- (Exclusive GST)

Incremental Bid – Rs. 10,000/

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 Lot basis exclusive of applicable GST

2. The material of partial loss reels will be delivered after cutting the damage material from the reels, however Total loss material will be sold in reels.

3. Deposits and Lifting: After depositing 100% advance payment within 3-5 working days H1 shall be allowed to start lifting and clear the lot awarded to them. The seller has indicated that the site can be cleared within a period of 5 to 7 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.

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

5. 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.

6. Participation/Facilitation Fee = Rs. 500 + GST

7. Information on invoicing: GST certificate, canceled cheque, Pan card/Adhaar Card copy

8. Information on Taxes applicable: GST@5% or 12%

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

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.

Earnest Money Deposit ( EMD) Information:

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 before lifting of material.

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 Fifty Thousand) 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.

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.

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

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.

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.

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.

8.4.4.1 The status of H1 bidder will be upgraded/confirmed as H1 Buyer after receipt of 10% EMD and 50% advance payment within 2 days after he is declared H1 bidder . He will be allowed lifting after depositing 100% payment +EMD 10% in next 3 days

8.4.4.2 If the H1 bidder fails to deposit minimum 50% 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.

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.

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

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.

“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:

Documents
Document 1 :	Auction participation forM ().pdf
Document 2 :	Bindal Future Retail-Salvage-Damaged Stock-MRP.xlsx

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