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8 Advt. No. MGIRI/ Auction/01/ Date: 23/01/18 Auction sale of obsolete and unserviceable material Public auction will be conducted on behalf of the Director, Mahatma Gandhi Institute for Rural Industrialization( MGIRI), Wardha for the disposal of obsolete and unserviceable Materials such as electrical and electronics equipments, furniture, heating, ups, shakers and some machines etc. on As is where is basis situated at the Mahatma Gandhi Institute for Rural Industrialization( MGIRI), Wardha. The reserved price of the material is 2.28 lakhs (approximately) The date of public auction is on 22/02/2018 at am in MGIRI North Campus. Terms and conditions 1. The mentioned items ( list is available on MGIRI website are sold on As is where is basis and the buyer shall have to ascertain and get satisfied with the conditions of the materials before participation in the auction and no complaints what so ever about the conditions etc. of the same will be entertained by the MGIRI later. The items to be auctioned are kept in the campus of MGIRI. The interested bidder may inspect the material on site on any working day between 9.30 a.m. to 5.00pm. 2. The bidder should submit the bid security of 10% of reserve price (Rs. Twenty three thousand only) in the form of Demand Draft (D.D.) of any nationalized bank drawn in favor of the Director, MGIRI payable at Wardha and submit the same to the office on on up to 12pm (a day before the auction) in order to make him/her eligible to take part in the auction. Demand Draft will be returned to the unsuccessful bidder after completion of the auction. 3. Public auction will be conducted in presence of Public Auction Committee members. Only those persons who have submitted the DD will be eligible to take part in the auction. Authorized bidder s representatives who are present shall sign the Attendance Register. A maximum to two representatives for any bidder shall be4 permitted and authorized to attend the bid. 4. The bidding process will start with the reserved price. The intended bidder can raise the price in the denomination of Rs In the auction, highest bidder will be given the award. 5. The successful bidder should deposit 25% (Nonrefundable) amount of the bid price immediately after the announcement of acceptance. Residual amount, after adjusting the security, should be deposited in the institute bank account (mentioned below) from the successful bidder within seven days before releasing the material.

9 Account name: Mahatma Gandhi Institute For Rural Industrialization, Wardha. Saving bank A/c No. : Name of the Bank: State Bank of India Address: Main Branch, Bachelor Road, Wardha, Maharastra. IFSC Code: SBIN In case of failure of party to lift the material within seven days from the date of auction, the security deposit will be forfeited and fresh auction will be conducted which will be notified later. No interest is payable on security deposit. 7. The bidder shall ensure all standard safety norms are followed while doing works. The buyer will employ his own labour and means at his own cost and risk for dismantling/ removal/ collection/ shifting and carriage of material and payment of wages/ compensation in case of any mishap to the labours will be sole responsibility of the buyer. 8. The buyer shall ensure that his work men do not loiter around in the office area. They shall not touch any material except those materials shown to them. If any of his workmen is even found violating these restrictions the buyer shall be responsible for such losses to the owners as per decision by Competent Authority of MGIRI. 9. Successful bidder has to clean the place after the removal of all the materials as per the satisfaction of MGIRI. 10. Any dispute in relation to or arising out of this shall be resolved amicable by the parties. Unresolved disputes shall be referred to Arbitration. The Arbitrator shall be appointed by the Director, MGIRI, Wardha. The venue of Arbitration shall be Wardha. Laws of India shall be the governing laws. 11. MGIRI reserves the right to postpone/withdraw/cancel the auction without assigning any reasons. IMPORTANT NOTE The party shall pay any taxes as applicable during the transportation of the auction materials from the Campus of MGIRI. MGIRI shall not be responsible for any transportation charges or taxes during transportation of the material. Director