AUCTION NOTICE BASMATI RICE 1121

Transcription

1 IDBI Bank Ltd. Janakpuri Branch B-3/61 Janakpuri, New Delhi AUCTION NOTICE BASMATI RICE 1121 M/s Pee Kay Agro had availed the loan against pledge of Warehouse Receipts of Central Warehouse Corporation (CWC) from IDBI Bank Ltd. Janakpuri Branch, New Delhi. The loan account(s) have become overdue. The bank has, therefore, decided to sell the stocks of commodities pledged to the bank which is stored in the warehouse mentioned below on at PM at our B-3/61 Janakpuri Branch via public auction by inviting tenders from parties. Name and address of the borrower Warehouse Address Commodity Name Approx Qty upto (Qtl ) Reserve Price Per Qtl Approx TOTAL VALUE EARNEST MONEY 5% of the sale value M/s Pee Kay Agro Central Warehouse Corporation (CWC) Karnal-II, Pingli Road Karnal, Haryana Pin Basmati Rice Rs.4,600 Rs.3,92,31,422 Rs.19,61, Sela (Grade A Export Quality) Basmati Rice Rs.5,200 Rs.99,86,444 Rs.4,99, Steam (Grade A Export Quality) TOTAL Rs.4,92,17,866 Rs.24,60,893 Terms and Conditions:- 1. Commodities are auctioned on As is, Where is and What is basis and No Recourse Basis. 2. Stock can be inspected at the ware house between am to pm upto Interested parties should submit the Bid (s) in sealed envelope along with Earnest money Deposit (EMD) on or before till pm to IDBI Bank Ltd. B-3/61 Janakpuri, New Delhi Bids received after the prescribed time will not be entertained. 4. The bank reserve the right to postpone / cancel / decrease the quantity or vary the terms and condition of tender without assigning any reason thereof. 5. The prescribed tender form will be available at (a) IDBI Bank Ltd B-3/61 Janakpuri, New Delhi , (b) Banks website under Notices & Tenders. 6. The detailed terms and conditions are specified in prescribed tender form. Place: New Delhi Date: - 12-Feb-2016 Branch Manager

2 TENDER FORM The Branch Manager IDBI Bank Ltd. B-3/61 Janakpuri, New Delhi Dear Sir, This has reference to your Public Notice dated published on in (Newspaper) for Auction of Basmati 1121 Basmati Rice 1121 Sela (Grade A Export Quality) & 1121 Steam (Grade A Export Quality). We are interested to participate in the auction and would like to submit as per details furnished below. 1. Name : 2. Address : 3. Contact Number : 4. Id : 5. PAN No. : 6. TIN No. : 7. VAT No. : Landline No. : Mobile No. : 8. Tender/Bid Amount : As detailed below S.No. Commodity Name (A) 1. Basmati Rice 1121 Sela 2. Basmati Rice 1121 Steam Location of Warehouse Quantity in Qtl Minimum Bid Quantity in Qtl (D) Reserve Price per Qtl (E) Rate Offered Per Qtl (F) Total Amount (=F*D)

3 9. Name of person/representative: Who will remain present at the time of opening of tender* (Authority Letter to be produced at the time of auction) 10. Earnest Money Deposit (EMD) Details Pay Order/Demand DraftNo:. Dated:. / /2016 of Rs., Bank... Payable at New Delhi. We have gone through the terms and conditions mentioned below. We understood the same and signed in as a token of acceptance thereof. We shall be bound by these terms and conditions. Thanking you Yours truly, (Name and Signature) (In case of firm/company, signature should be under the rubber stamp of the firm/company) Place : Date :

4 Terms and conditions for Public Auction 1. Commodities are auctioned on As is, Where is and What is basis and No Recourse Basis. 2. Bidders can participate in the auction by paying Earnest Money Deposit (5%) as mention against the commodity in the advertisement in the form of a Pay order /Demand Draft drawn in favour of IDBI Bank Ltd., Janakpuri Branch after the auction and individual successful Bidders shall informed about the acceptance of Bid by / letter. Which shall be non-interest bearing deposit. 3. The sealed tenders shall be submitted to IDBI Bank Ltd. B-3/61 Janak Puri Branch, New Delhi superscribing Auction of M/s Pee Kay Agro on or before 2:00 pm of in pursuance of auction notice. 4. Persons interested to participate in the auction can take sample of the stocks in the respective warehouses between AM to 5.00 PM upto , in the presence of representative of warehouse. Bank does not guarantee that entire stock of commodities shall be in conformity with the sample taken by the Bidder. 5. The sealed tenders shall be opened on at 4.00 PM at IDBI Bank Ltd. B-3/61 Janakpuri, New Delhi The representatives (Maximum two persons with proper authority letter & id Proof) of the bidders shall be allowed to remain present at the time of opening of tender. 7. Bank/Branch at its sole discretion might go for open auction after opening the tenders, if quoted rates are not found upto the expectation. 8. The successful Bidder will be announced and informed after the auction and individual successful Bidders shall informed about the acceptance of Bid by /letter. 9. The earnest money deposited by unsuccessful bidders will be refunded by the Bank within 15 working days from the date of completion of auction. 10. Bank does not guarantee or warranty whatsoever as to the condition or quality or quantity or description of the stock of commodities put in auction. 11. Commodities will be sold to the highest Bidder of each variety/commodity in bulks as mention in the auction notice. The Bidders shall bid separately for each variety of commodities. 12. Bidder may bid for single or multiple commodities in a single tender 13. The offer of the highest Bidder shall be accepted provided the bid is more than the reserve price fixed and price is acceptable to the Bank. 14. Bank is not bound to accept the highest offer or reject all or any offer and may accept any offer in its absolute discretion, as it may deem fit. 15. Bank is not liable to give any reason for rejecting/ declining and/or for considering any particular offer or offers. 16. The earnest money deposited by successful Bidder shall be appropriated at the time of payment of last batch of commodities. 17. On acceptance of a bid of an applicant in the auction process. The balance value i.e. 95 % of the bid amount is to be paid within three working days of the deposit of the earnest money for

5 taking delivery of the commodity. No interest will be paid on the earnest money deposited and the earnest money will be forfeited in case the bidder fails to pay the full bid amount within the three working days. 18. Commodities will be sold on net weight basis rounded off to the nearest decimal Quintal unit. Weight before and at the time loading of commodities at weighing bridge will be taken in the presence of Collateral Manager and Bidders representatives. The net weight arrived at shall be binding upon the Bidder, any variation less than 5% verified by the collateral managers Central Warehouse Corporation, Karnal will not be entertained. 19. Minimum Quantity for Bidding for each commodity is fixed as per available quantity of each commodity mention in the auction notice and shall be in Quintal. 20. The statutory levies/taxes/duties such as Sales Tax, VAT, etc, shall be borne by the successful Bidders and shall be exclusive of bidding price. Repackaging, Loading, Transport charges, weighing charges, Octroi, market fees or any Charges or levies shall be borne by the Bidders and shall be exclusive of bidding price. 21. If the successful bidder fails to deposit the entire sale price within stipulated period or within the additional time if granted (at the discretion of bank), in the manner mentioned above, then the sale in favor of Successful bidder shall stand cancelled. The Bank shall at its sole discretion, sell the stock to any other bidder, who offered the tender, in the auction or by conducting another public auction as the Bank may deems fit and necessary. In which case Earnest Money Deposit shall stand forfeited by the Bank. 22. The Bank will not liable and responsible in any manner whatsoever in the event the successful bidder fails to remove the said commodity from the respective warehouse within stipulated time of 15 days from the date confirmation of the sale. 23. Once the Commodities are sold, it will be at the sole risk and responsibility of the Bidder and without any recourse against the Bank as to quality of commodities and /or usability of the same. The Bank will not be liable and responsible in any manner whatsoever in the event the successful bidder to remove the commodity from the respective warehouse within stipulated time. 24. No claim of difference in commodity Quality due to varietals admixture, Moisture, Foreign mattes or presence of broken of discolor commodity or any other parameter will not be entertained by Bank once the stocks are sold. 25. The Bank shall advise to the warehouse keeper to deliver the stock to the successful bidder(s) only on receipt of sale price for commodities. 26. If the Borrower, repays outstanding dues to the Bank on or before deposit of entire sale price by the successful Bidder then the Bid shall stand cancelled to the extent of unlifted stock(s) and Bank shall refund the amount to the extent of unlifted stock(s), if any deposited to the Bidder without any interest. 27. The purchaser shall not entitle to look into whether the power of sale is being validly exercised and/or whether there are any arrears due or not and also shall not be liable or entitled to look into the appropriation of the proceeds of sale by Bank. 28. Bank reserves the right to exclude the stocks of any of the above commodities of the borrowers from auction.

6 29. Bank is not responsible for any claims subsequent to the delivery of stocks to the successful bidder(s). 30. In spite of full or part payment of bid amount by successful bidder, if the Bank could no deliver commodities for any unforeseen reason beyond its control or due to force Majeur, then the Bank shall refund the amount paid by the bidder without interest within 30 days. 31. Bank reserves the right to change the date/ time and venue of auction or to postpone the auction without assigning any reasons. Read and Accepted the Terms and conditions. (Sign and stamp of the Bidder) Name: Place : Date : Kindly Note: A. Bidders are advised to retain a photocopy of their bids. B. Bidders must sign and stamp all the pages of tender form and enclose them with their bid failing which their bids may not be entertained at Bank's sole discretion.