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CBI Terms & Conditions

The document outlines the terms and conditions for an e-auction of properties being held on December 9, 2015. Key details include: 1. The auction will be held on an "as is where is" and "as is what is" basis from 12 PM to 1 PM on the portal www.bankauctions.in with unlimited 5 minute extensions. 2. Intending bidders must have a valid email, PAN number, and are responsible for inspecting assets and satisfying themselves regarding specifications. 3. Bidders must submit EMD through NEFT/RTGS before December 7, 2015 and upload identity/address documents along with scanned bid forms to the portal. The highest bid above reserve price

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Lokesh Konganapalle
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54 views

CBI Terms & Conditions

The document outlines the terms and conditions for an e-auction of properties being held on December 9, 2015. Key details include: 1. The auction will be held on an "as is where is" and "as is what is" basis from 12 PM to 1 PM on the portal www.bankauctions.in with unlimited 5 minute extensions. 2. Intending bidders must have a valid email, PAN number, and are responsible for inspecting assets and satisfying themselves regarding specifications. 3. Bidders must submit EMD through NEFT/RTGS before December 7, 2015 and upload identity/address documents along with scanned bid forms to the portal. The highest bid above reserve price

Uploaded by

Lokesh Konganapalle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Terms and conditions:

1. The e- Auction is being held on as is where is and as is what is basis.


2. The e-auction will take place through portal www.bankauctions.in on 09.12.2015 from 12.00
noon to 1 p.m onwards with unlimited auto extension of 5 minutes each.
3. Intending bidders should have valid e-mail address and PAN number .For detail with regard to
E-Auction ,Pls contact M/s 4CLOSURE Mr.Shrinath,Mr Raja Durga Prasad & E mail Id :
[email protected],
[email protected],
09840446485, 08142000067/62

contact

numbers:

4. For detailed procedure & terms & conditions of e-auction, interest bidders may visit
www.bankauctions.in and download business rule document. Interested bidders may in touch
with business provider on below mentioned contact numbers mentioned in clause No3.
5. To the best of Knowledge and information of the Authorised officer, there is no encumbrance
on any property .However, the intending bidders should make their own independent inquiries
regarding the encumbrances, title of property/ies put on auction and claim/rights/dues/effecting
the property, prior to submitting their bid. The e-auction advertisement does not constitute and
will not be deemed to constitute any commitment or any representation of the Bank .The
property is being sold with all the existing and future encumbrances whether known or
unknown to the Bank. The Authorised officer/Secured creditor shall not be responsible in any
for any third party claim/rights.
6. It shall be responsibility of the bidder to inspect and satisfy themselves about the asset and
specification before submitting the bid. The inspection of property/ies put on auction will be
permitted to interested bidders at sites on any working day before 07/12/2015, 5.00 p.m
7. The interested bidders shall submit their EMD through NEFT/RTGS in the following Account
No. 3017087915,Name of the a/c :Authorised Officer, Central Bank of India, Madurai,
Name of the beneficiary : Central Bank of India, IFSC Code: CBIN0283094
before 07/12/2015, 5.00 p.m.Please note that the cheques /Demand Drafts shall not be accepted
as EMD amount.
8. After registration by the bidder in the web portal ,the intending bidder/purchaser is required to
get the copies of the following documents uploaded in the web portal before last date of
submission of the bid(s) Viz i) Copy of the NEFT/RTGS challan ii) Copy of PAN Card
iii)Proof of identification KYC viz ,self attested copy of Voter id cad/Driving Licence/passport
etc iv) Copy of proof of address without which the bid is liable to be rejected. Uploading
scanned copies Annexure II & III (mentioned in the tender notice) after duly filled up &
signing.
9. The interested bidders who require assistance in creating Login ID & Password ,uploading data,
submitting bid ,training
on
e-bidding process etc,may contact M/s 4CLOSURE
Mr.Shrinath,Mr Raja Durga Prasad & E mail Id : [email protected],
[email protected], contact numbers: 09840446485, 08142000067/62

in office hours during the working days.


10. Only buyers holding valid user id/password and confirmed payment of EMD through
NEFT/RTGS shall be eligible for participating in the e-Auction process.
11. The e-Auction of above properties would be conducted exactly on the schedule date and time
as mentioned against each property by way of inter-se bidding amongst the bidders. The bidder
shall improve their offer in multiple of the amount mentioned under the column Bid increase
amount against each property .In case bid is placed in the last five minutes of the closing time
of the e-Auction ,the closing time will get automatically extended for five minutes(subject to
maximum of unlimited extensions of 5 minutes each).The bidder who submits the highest bid
amount (not below the Reserve Price) on closure of e-Auction process shall be declared as a
successful bidder and communication to that effect will be issued through electronic mode
which shall be subject to approval by the Authorised officer/Secured creditor
12. The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale
consideration and the EMD of the unsuccessful bidders shall be refunded. The earnest money
deposit shall not bear any interest .The successful bidder shall have to deposit 25% of the sale
price ,adjusting the EMD already paid within 48 hours of the acceptance of bid process by
Authorised officer and the balance 75% of the sale price on or before 15 th day of sale or within

such extended period as agreed upon in writing by and solely at the discretion of the Authorised
Officer.In case of default in payment by the successful bidder ,the amount already deposited
shall be liable to be forfeited and property shall be put to re-auction and thed deafaulting
borrower shall have no claim /right in respect of property/amount.
13. The prospective qualified bidders may avail online training on e-Auction from M/s 4CLOSURE
Mr.Shrinath,Mr Raja Durga Prasad & E mail Id : [email protected],
[email protected], contact numbers: 09840446485, 08142000067/62, prior to
the date of e-Auction. Neither the Authorised officer/Bank nor M/s 4CLOSURE, shall be liable
for any Internet Network Problem and the interested bidders to ensure that they are technically
well equipped for participating in the e-Auction event.
14. The purchaser shall bear the applicable stamp duties/additional stamp duty/transfer
charges, fee etc., and also all the statutory/non-statutory dues, taxes, rates, assessment
charges, fees etc. owing to anybody.
15. The Authorised Officer is not bound to accept the highest offer and the Authorised officer has
the absolute right to accept or reject any or all offer(s) or adjourn/postpone/cancel the e-Auction
without assigning any reason thereof. The bidders are advised to go through the detailed Terms
& Conditions of e-auction available on the Web Portal of M/s 4CLOSURE.,
www.bankauctions.in before submitting their bids and taking part in the e-Auction

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