Owned Steel Strips Wheels Limited Through

NAC-0009 E Auction for the sale of Scrapped Forklifts @ Oragadam Owned Steel Strips Wheels Limited Through www.auctionbridge.net Starts at 03:00:00 PM & Closes at 04:00:00 PM ON 11th July 2016

The Product details are as follows:

S.No Product Name EMD in Rs 1 Scrapped Forklift ( 3 MT Capacity - 3 Nos / 5 MT Capacity – 2 Nos ) – 1 Lot [Per 20,000 /- Lot]

General Terms:

1. The bid registered will be exclusive of all applicable duties, taxes and other statutory levies. 2. Sales tax, excise and other statutory duties and levies will be as applicable at the time of sale. 3. TCS will be extra as applicable. 4. The terms and conditions contained in this mailer may be changed without notice. You are requested to visit and register at our website, www.auctionbridge.net for latest information / changes in terms and conditions on start time/date and end time/date, changes in items offered for sale and other changes, extension of auction time, date etc. 5. Refer the offer document hosted with this auction for detailed Terms and Conditions of sale on the day of auction. 6. Auto Extension Feature: The auction will get closed on the scheduled closing time indicated in the site if there are no bids in the last 10 minutes. If there is a bid in last 10 minutes before the scheduled closing time the auction closing time will get extended by another 10 minutes from the bid time. The auction will get closed if there are no bids / bid attempts in the auto extension period (extended 10 minutes). If there is a bid the auction continues till we reach 10 minutes of No / Nil Activity. 7. People coming for inspection should wear the shoes compulsorily

SPECIALTERMS&CONDITIONS FOR THE E-AUCITON

1) Contract Validity: The validity of the contract is on immediate clearance mode. 2) SALEORDERS TO BEISSUED IN THE NAME OF BIDDERS ONLY AND NOMINATION IS NOT POSSIBLE. 3) Delivery should be one in the supervision of only one representative of the buyer. The representative should have valid authorization letter 4) Price Validity: Price bided online is valid for a period of 20 days from the date of e-auction and upon confirmation, till completion of delivery. 5) Price Terms : Bids placed / Rates offered are for the BASIC PRICE only. ED, VAT, IT-TCS shall be extra as applicable. In case the bidder opts for CST with “C Form”, 3% of the Sale order value will be retained from EMD till the submission of “C Form”. 6) Payment Terms: 100% payment should be made with in 3 working days from the date of confirmation from M/s. Steel Strips Wheels Limited , FAILING WHICH THE EMD WILL BE FORFIETED. 7) Lifting of materials: Lifting of materials should be completed within 10 working days from the date of confirmation FAILING WHICH THE EMD WILL BE FORFIETED WITHOUT ANY FURTHER INTIMATION. Extension of Duration of Payment / Delivery: NO TIME EXTENSION WILL BE ALLOWED FOR PAYMENT / DELIVERY APART FROM THE DELIVERY SCHEDULE MENTIONED IN THE SALE INTIMATION NOTE.

8) EMD Terms : EMD collected will be refunded against the value receivable by seller after receipt of 100% payment by the seller and upon completion of lifting of scrap. EMD Will not be adjusted with payment for lifting. EMD will not been pertained by RTGS. Only DD/Pay Order/ Banker's Cheque will be accepted. EMD will not carry any interest. 9) All the correspondence by bidder shall be through the AUCTIONEER only. 10) The bidder should not indulge in any unfair trade practices & if found the EMD will be forfeited / They will not be allowed to participate in Steel Strips Wheels Limited future auctions. 11) The H1 bidder has to get authorization from the AUCTIONEER before going for taking delivery. Without authorization letter the material will not be delivered. 12) Delivery will be allowed only between 10.00AM to 3:00PM on all working days. 13) H1 Bidder should keep up the schedule for payment and delivery. 14) Payment against Sale Intimation letter shall be made through RTGS or Demand Draft /PO (Delivery of materials will be allowed subject to realization of Demand Draft /PO 15) The auctioneer should ensure that all existing and new bidder should produce their KYC form (know your customer form) along with copy of tin & pan certificate / proprietor photo / id proof with EMD DD to participate in online auction. Failure to comply the above will disqualify his participation.

1.0 GENERAL TERMS & CONDITIONS

1.1 Subject to the reserve price, if any, fixed by the SELLER and subject to the term and conditions set out here in, sale shall be made to the HIGHEST BIDDER on “AS IS WHERE IS BASIS ” and “NO COMPLAINT BASIS.” The Seller does not undertake any responsibility to procure any permission / license etc. in respect of the auction property offered for sale. 1.2 SELLER reserves the right to modify and amend the terms & conditions and announce the same at anytime before the entire auction concludes. Announcements during the auction in the auction room on the website and changes made in the catalogue including start price, bid increment / decrement, extension of time for lots where received bids / no bids are received, and any other additional conditions OR correction in the catalogue and/ or additions or deletions of items being offered for sale are being done with the consent and knowledge of the seller, and it is binding on the bidder. Bidders are advised in their own interest not to leave the auction room till the entire auction is closed. 1.3 Participation and bidding in this Auction shall be treated as conclusive evidence of the fact that the bidder has inspected the Auction Property and the documents pertaining to it and is satisfied in all respects regarding quantity, quality, condition of the Auction property, taxes and duties, and other extraneous factors and the Principle of Caveat Emptor (let the buyer beware) will apply. It shall also imply that the bidder has carefully gone through hand understood the terms and conditions of Auction including the amendments if any, prevailing at the time of Auction. Seller / the Auctioneer will not entertain any complaints or objections once Bid is placed 1.4 Seller does not give warranty or guarantee of the quality, quantity, measurement, condition Chemical composition of each individual items or lot that form the auction property and about its “End Use” or fitness for a particular purpose. 1.5 The highest bidder does not get any right to demand acceptance of his offer. SELLER reserves the right to accept / reject / cancel any bid, withdraw any portion of the Auction Property at any stage from Auction even after acceptance of bid / issue of delivery or deror release order / deposit of full value by successful bidder with out assigning any reason thereof. In the event of such rejection / cancellation / withdrawal, SELLER, shall refund the value of Auction Property, if paid for, to the successful bidder. SELLER shall not be responsible for any damages / loss what so ever to the successful bidder on account of such withdrawal. 1.6 EMD amount will not carry interest. 1.7 In the event of failure on the part of the successful bidder to fulfill his contractual obligations, seller / Auctioneer reserves the right to debar such bidder from participating in any future auction conducted by the Auctioneer on behalf of seller.

2.1 PARTICIPATION

2.2 The prospective bidders have to register with the Auctioneer by submitting the Membership Registration form duly filled and signed along with self attested copies of their PAN Card, valid VAT registration certificate (if available), and address proof by way of electricity bill, or telephone bill, or Bank account statement for the last six months. The Membership Registration form along with the prescribed documents shall be submitted to the Auctioneer. The Prospective Bidders, who have submitted the Membership Registration form along with the prescribed documents to the Auctioneer once, need not submit the same again. The prospective bidders after completing the registration process as above shall have to deposit Earnest Money Deposit (EMD) for each lot separately or for all lots as prescribed. (Refer Details of Auction Property for Lot-wise EMD) by Demand Draft / Pay Order on any Scheduled / Nationalized Bank /Scheduled Co-operative Banks (as prescribed by the Seller) Drawn in favor of Auction Bridge Payable at Chennai

3.0 CONDITIONS APPLICABLE TO “ONLINE” AUCTION METHOD OF BIDDING

3.1 Validity: The Online auction bidders must keep their bids valid for a period of 10 days from the date of e-auction, and upon confirmation till completion of delivery. 3.2 Bids: All bids placed are legally valid bids and are to be considered as bids from the bidder himself. Once the bid is placed, the Bidders cannot reduce or withdraw the bid for what ever reason. If done so, the seller will forfeit the EMD. The highest and the latest bid on the Auction shall superse deal the previous bids of the bidder. The bidder with the highest offer / bid does not get any right to demand acceptance of his Bid.

4.0 Contract Validity – As mentioned in the special terms & conditions 5.0 Payment

5.1 EMD amount shall be made in the form of Demand Draft / Pay order issued by any Scheduled / Nationalized Bank / Scheduled Co-operative Banks in favor of Steel Strips Wheels Limited 5.2 On receipt of sale confirmation, Successful Bidders shall deposit 100% value of the material for the respective lots inclusive of the applicable taxes and duties if any, (calculated as per the bids placed and approved by the seller) in the form of DD or through RTGS before commencement of lifting of scrap. EMD collected will be refunded after completion of materials lifting. 5.3 In case of payment by DD, lifting will be allowed only after realization of DD 5.4 Bids placed / Rates offered are for the Basic Price only. ED & VAT, IT-TCS shall be extra as applicable.

DELIVERY – Appropriate Clauses mentioned below will apply according to the sale.

5.5 On receipt to full Sale Value along with applicable ED / VAT / Sales Tax / TCS & other Charges by the Seller, the Seller will issue Sale / Delivery / Release Order to the Buyer through the auctioneer there by enabling him to lift the materials as per the sale order. 5.6 Lifting of materials will be allowed only between 10.00 AM to 3:00 PM on all working days. Successful bidders should ensure that the material clearance is as per the seller’s instructions. Neat and clean maintenance of the stock yard from where the materials lifted is the responsibility of the successful bidder. In the even to non- adherence to the above by the successful bidder, seller will reserve its rights to impose penalties / forfeiture of EMD and other payments collected. Weight recorded at the seller’s premises hall prevail final. 5.7 Incase seller is unable to deliver the goods within the specified time due to unforeseen administrative reasons, then the seller shall grant suitable extension of delivery period to the Buyer without any penalties till the expiry of such extended period. In such eventuality, however, the Buyer shall not been titled to claim any compensation for such delay. 5.8 If the goods sold or portion thereof remain un-cleared in the premises of the seller beyond the stipulated period, the sales proceed soft he un – lifted assets shall be forfeited and the un-lifted portion of the assets may be removed at the risk and cost of the buyer. 5.9 While taking delivery of the material, it will be at the discretion of the seller or its authorized representative to direct the manner / order in which the materials or lots shall be removed. No segregation of the items of any lot is allowed inside the seller’s premises. 5.10 Breaking / cutting may be allowed to the extent necessary for facilitating loading into vehicles as per the discretion of the seller. No gas cutting equipments or any equipment, which are likely to cause damage, will be allowed in the premises. Only safe oxy-acetylene gas cutting equipment will be allowed with permission of seller. The decision of the seller or his authorized representatives hall be final in this regard. 5.11 The buyer shall arrange for all tools and tackles, forklifts and hoists or cranes or labor at their own expenses. 5.12 The buyer will make his own arrangement for lifting and transportation of materials from the seller's premises. However, the seller will guide only in loading and weighing (if on weight basis) of material. Buyer will not been titled to claim any further facility or assistance in these regard. The material sold on weight basis will be weighed on seller's weigh bridge in the presence of seller's representative. The weight recorded in the weighbridge will be final and binding on both parties. No complaints as regard the shortage in the weight will be entertained later. Further the vehicle meant for loading the scrap should have a valid pollution under control certificate and should be free of any leakage of diesel or oils. The buyer has to pay for the weight arrangements also.

5.13 Should the successful bidder wish to take delivery of the surplus material through its employee, he must authorize the latter by a letter of authority or continuing authority, which shall be presented to the seller. The seller may in his entered is creation decline to action any such authority and it shall be for the purchaser to satisfy the seller that the authority is genuine. Delivery to such authorized person will constitute valid delivery and no claims halllie against the seller on any account thereafter.

5.14 Once the goods / materials are taken out of the factory gate, purchaser will be solely responsible for all sorts of claims like shortage, missing parts, damage, incident, accident, loss of material etc.

5.15 Resale will not be recognized. The purchaser shall not been titled to resell any lot or part of a lot while goods are still lying with in the premises of the seller and no delivery would be affected by the seller to any person other than the Purchaser whose names are mentioned in the sale order /Delivery order.

5.16 Purchaser and his men are subject to the security rule of seller in force while in the seller ’s premises. The purchasers, their work men agents or representatives shall not commit any nuisance, theft or indulge in any anti social activities in the seller ’s premises and the purchaser shall be liable for the good conduct, safety & discipline of his workmen. Incase of any such activity, delivery will be suspended and strict action as per law will be taken including forfeiture of EMD.

5.17 While taking delivery of the material, the Purchasers shall be responsible for any damage that maybe done to premises / fitting soft he SELLER in the course of removing the lot or lots purchased by them. The SELLER may at its option arrange to make good such damages and the purchasers hall pay for the same on demand. If such payment is not made on demand, the SELLER may forfeit the EMD / Security Deposit or may stop delivery of the material till payment is made. 5.18 SELLER will not at any time be responsible for any injuries caused due to accident with in its premises either to the buyer or his representative / labor etc., and the buyer will make proper arrangements for any claim arising out of the employment under any status. It is the responsibility of the buyer to provide necessary safety appliances (like hand gloves / safety shoes etc.,) to the laborers, who are engaged for loading the materials. 5.19 If any accident or damage to the property / life etc. arises by reason of any act of negligence / omission / default or non-compliance with any of the Terms & Conditions or statutory regulations or rules and regulations applicable with in the Seller’s premises, on the part of the Buyer / his representative or employees, resulting in death or injury to any persons or damages to the property of the SELLER or any third party, then in such an event the Buyer will have to pay compensation to such person including the employees of the SELLER for such accident or injury / death or damage caused to their employees or to any of the Seller ’s employees or to others or to the Seller’s property. The Buyer shall in such event, keep the SELLER fully indemnified from any demand, claims or proceedings thereof.

Disputes/Arbitration

5.20 An authorized official or any other person appointed by the seller shall decide any dispute arising between the successful bidder and seller. The decision of the Arbitrator shall be final and binding on both the parties. 5.21 Disputes between seller & bidder if any shall be within the jurisdiction of Chennai courts only.

Action Responsibility Follow up with Bidders for taking pos session of the Auctioneer assets / scrap awarded through auction Availability of inspected assets / scrap which was let Steel Strips Wheels Limited out for auction Forfeiture of EMD Auctioneer and Client

7.3 However, the Auctioneer shall coordinate with both the Seller and Bidders to resolve the dispute amicably, if any, by discussion & negotiation to the best of its ability.

Inspection Details:

Contact Person Mr. S Kingslin – 7338826564 Mr. D Jackson Jayaraj - 7338826565 Auction Bridge #185, Labour Colony, Guindy Industrial Estate Guindy, Chennai-32 Schedule of Programme

Inspection of Materials Till 11th July 16 Time: 10.00 A.M. To 3.00 P.M. with prior appointment Contact Person Sajeev. V Steel Strips Wheels Limited, A-10, Sipcot Industrial Growth Centre, Oragadam, Vallam Village, Sriperumbudur Taluk, Distt. Kancheepuram, Tamil Nadu - 602 105 EMD Details EMD DD of Rs. 20,000 for Auction to be taken in favor of Steel Strips Wheels Limited Payable at Chennai Last Date to receive EMD 11.07.16 - Before 12.00 P.M. On-Line Auction Date 11.07.16 BETWEEN 3.00 P.M and 4.00 P.M All unbid lot will reopen from 4.00 to 4.30 PM