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1 / 9 E-Auction www.salasarauction.com E-Auction “e - Auction Portal of” Salasar Core Solution Pvt Limited “Seller Means” 104, Ist Floor , Vasudeo Chambers, Manikgarh Cement Mulund Link Road , Bhandup(W) Mumbai – 400078 PO. Gadchandur - 442 908 Phone – 022-25660141 Teh. Korpana,Dist. Chandrapur Mobile No. 9320445534 / 9320589231 (Maharashtra), India Mail ID: [email protected] On As is where is basis E-Auction Date & Time 07th September 2013 Onwards 02:00 PM Last Date to Submit EMD 06th Sept 2013 before 03:00 PM Self Certified Photo Copy of CST & TIN Number Submission of Mandatory Documents Firm Registration certificate PAN number Address Proof Date : 28 Aug 2013 to 06th Sept 2013 Inspection Date and Time Time: 10.00 AM to 4.00 PM. With Prior Appointment Manikgarh Cement PO. Gadchandur - 442 908 Inspection Place Teh. Korpana,Dist. Chandrapur (Maharashtra), India 1. Caution Money Deposit: Rs. 1,00,000/- (Rs. One Lac Only) 2. For participating at our e-Auction, the intending bidders shall pay refundable Caution Money Deposit (CMD) as mentioned herein above in favour of Manikgarh Cement payable at Chandrapur. 3. CMD will not be accepted on Auction Date. 4. Registration form duly filled is must. 5. Earnest Money Deposit (EMD):--Succesful Bidder will have to submit EMD 10% of the Sale Value with in 3 Days from Date of Sale Confirmation Letter. 6. CMD of unsuccessful participants will be sent back within Three working days Caution Money Deposit (CMD) & after completion of auction through courier / Registered Post at bidder’s risk Earnest Money Deposit (EMD) to the address given by them on registration form. 7. CMD/ EMD shall bear no interest. 8. Successful participant’s CMD amount will be adjusted in EMD amount (as the case may be) for accepted lots. Separate EMDs to be deposited for separate lots within 3 days from declaration of result. However successful bidder has the option to deposit EMD and Advance simultaneously. 9. Incase party fails to deposit balance EMD amount (In case CMD amount is higher than EMD amount), CMD amount will be forfeited and lot will be awarded to next bidder or as decided by Seller. Updated Quantity, if any, will be Declared before starting of e Auction. Additional Lots and / or Revised Please check for updates regularly on website. Quantity Excise, Sales Tax, TCS or any other taxes as applicable under the relevant Act will be Rate, Taxes and Duties charged extra at the rate prevailing at the time of delivery and the rate offered shall be exclusive of all taxes. Will be displayed at the time of auction. Start Bid and Increment Qty indicated is approx and may vary and all the lots are to be sold on ground clearance Quantity basis. Buyers who are not in position to submit C form in advance have to deposit Submission of “C” Form difference of sales tax (full tax - concessional tax charged) (i.e 10.5% ) for entire lot 1 / 9 along with first installment of payment and same will be refunded on submission of C form. Buyers should submit form C for purchase of a period ending Quarter has to submit their form C before completion of Subsequent quarter (i.e. Three months from the last date of quarter ending). If fails, we will issue Debit Note for non issue of form C along with interest @ 15% as per State VAT Regulation Act and the same amount will be deposited with VAT Dept. which will not be refundable. Period of Quarter: (April-June), (Jul-Sep.), (Oct- Dec.) and ( Jan- Mar.). Within 7 day from date of e- Auction. ON RECEIPT OF CONFIRMATION OF SALE, PURCHASER SHALL MAKE BALANCE PAYMENT WITHIN SCHEDULE TIME WITHOUT WAITING FOR ANY SALE ORDER OR DELIVERY ORDER. Result Declaration Lots will be sold on “Subject to Confirmation” basis; the purchaser will be intimated by email by (E auctioner) the confirmation or rejection of lot, as the case may be. Result of “Subject to Confirmation will be declared within 7 working day from the date of auction. Payment Terms Successful bidder will have to submit 100 % before a day of Delivery. Delivery schedule will be displayed on website for respective lot/material during Auction. Strict time bound delivery clause shall be adhered and no extension shall be given afterwards, in case Delivery of failure, we reserve the right to forfeit the security deposit and disposed off the said Material as deemed fit without any compensation to you. Loading will be arranged by buyer along with his equipments. 1. In case of failure of the purchaser to comply with the conditions (CMD & EMD condition as above), the Seller may at its discretion, terminate the contract and the EMD paid by the purchaser will stand forfeited for the breach of contract by the purchaser. The lot in question will be re-sold by the Seller, without any reference to the purchaser, to any other buyer at the risk of the defaulting purchaser. The lots paid for must be completely removed at the purchaser's expense within the schedule period specified. If any lot is not removed Forfeiture of Earnest Money Deposit within this specified period, the Seller may re-sell / re-auction the said lot or portion thereof at the purchaser's risk and expense. 2. EMD Deposit will stand forfeited in the event of the purchaser not removing the lots within the specified time. 3. In case of Failure to lift the sold lot, Salasar Core Solutions Pvt ltd and MANIKGARH CEMENT at its sole discretion may debar the buyer for all future auctions of all other companies. MANIKGARH CEMENT’s Decision will be final in this regard. Special Note: Loading, unloading, transportation, insurance charges, PPE Safety equipments and all other related expenses will be in the scope of buyer. However, Manikgarh Cement will provide Hydra at their cost for loading. \INSTRUCTIONS TO THE e-AUCTION PARTICIPANTS 1. Bidders are requested to fill up the Registration Form Completely and attach the same with CMD, without which CMD will be returned back/ not considered. 2. All those who have registered online and wish to participate in the auction, should send their Caution Money Deposit (CMD) by RTGS/DD favoring Manikgarh Cement, payable at Chandrapur, along with details in the Registration Form and Profile Form attached herewith through courier or personally and obtain necessary receipt for the same. Please do not mention your Password in your letter. CMD must reach the Auctioneers as mentioned in cover page. 3. Forms received thereafter or on the day of eAuction for becoming Registered Participants will be rejected out rightly and such bidders will not be allowed to participate at the Live- Auction and their DD will be returned to them through Courier at his/their risks. Hence, in your own interest, you are requested to complete all the formalities to become Registered Participant in advance and well in time. 4. Please Note the DD against CMD must be received by MANIKGARH CEMENT/us in advance along with Registration Form and Profile Form attached herewith on or before date and time mentioned above. The Auctioneers / Seller are not liable for the delay or late receipt of DD whether sent through Courier or Post. 5. Please do not reveal / pass your User ID and Password to any other person/s. It is your personal property and we will not be responsible for any leakage or misuse or illegal use of your User ID 2 / 9 and Password. Nevertheless, you will be held personally liable to the Seller and the Auctioneers for any misuse or illegal use of your User ID and password by other person/s and any successful transaction online by such unauthorized person due to your negligence will be considered as your own transaction and you will be required to fulfill the contract as per terms and conditions of the sale. 6. MANIKGARH CEMENT reserves the right to modify and amend the terms & conditions and announce the same at any time before the auction concludes. Announcements during the auction on the website including announcement of any 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. 7. 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 and understood the terms and conditions of Auction including the amendments if any, prevailing at the time of Auction. Seller/SCSPL will not entertain any complaints or objections once Bid is placed. 8. Seller./SCSPL does not give warranty or guarantee of the quality, quantity, measurement, condition Chemical composition of each individual item/s or lot/s that form the auction property and about its “End Use” or fitness for a particular purpose. Sale is on “ AS IS WHERE IS BASIS “ and “ NO COMPLAINT BASIS “. 9. 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 order or release order/ deposit of full value by successful bidder without assigning any reason there of. In the event of such rejection/ cancellation/ withdrawal, SELLER, shall refund the value of Auction Property, if paid for, to the successful bidder.
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