Online Auction Sale Catalogue

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1 Online Auction Sale Catalogue On behalf of Quippo Infrastructure Limited Sale of Tata 709 truck, Used Containers, D.G, Misc. Scrap Material Locations: Panvel - Mumbai Through E-auction on Earnest Money Deposit (EMD) for Participating in E- Auction Rs. 75,000/-(Rupees Seventy five thousand only) For All Lots By RTGS / Demand Draft in Favor of Quippo Valuers and Auctioneers Pvt. Ltd and Payable at New Delhi Buyer s Premium Winner Bidder has to pay 3 % Plus GST of Total Sale value to Quippo Valuers and Auctioneers Pvt. Ltd. as Buyer s Premium Online Auction Schedule Auction Start Date Auction Start Time 12:00 PM Auction Closing Date Auction Closing Time First Lot at 01:30 PM Inspection Start Date Inspection End Date EMD Deposit Date On or Before 05:00 PM on No EMD will be accepted on Auction Date Note 1) Inspection Strictly on Prior Permission and Working days only. 2) Inspection not allowed on Public Holiday and Sunday. 3) Buyer has to Send Valid Address and Identity Proof of all the persons visiting for Inspection to Quippo Auction for issuing Gate Pass. Phone No , info@quippoauctions.com Page 1 of 5

2 Table 1 - List of Assets Available for Sale Quippo Infrastructure Limited Sr. No. Lot Description UoM Quantity Bid Basis EMD Amount 1 Tata 709 truck Lot 1 Lot 25,000 Used Container 40 ft- 1 Nos & 20 ft 2 Lot 1 Lot 2Nos 3 DG Lot 1 Lot 50,000 4 Miscellaneous Scrap & Window AC Lot 3 Lot Important Points:- All items are available for sale on AS IS WHERE IS basis. Bid is for basic price only. All applicable taxes are extra as applicable Sr. No. 1 Table 2 - Address of Warehouse for Asset Inspection Quippo Infrastructure Limited Location Address Contact Person Panvel- Mumbai Quippo Infrastructure Limited, Rohinjan Village, Taloja, Panvel, Mumbai Mr. Rahul For Inspection, Registration and Other Query, Please contact Phone No , info@quippoauctions.com Page 2 of 5

3 Follow the Steps and Become Eligible Bidder in E-Auction Step 1. Valid User ID and password to access auction details on Step 2. Signed the Bidder s undertaking form Step 3. Deposit Required EMD amount for participating in e-auction Terms EMD DEPOSIT Date Validity of Bids Payment Terms Lifting Period Tax EMD Adjustment EMD forfeiture Conditions On or Before before 05:00 PM All the highest bids remain valid for 20 Working Days only. Payment deadline strictly within 5 working Days from the time of Approval Intimation. Successful bidder/ Buyer shall deposit the entire payment to the seller s bank account within 7 working days from the receipt of confirmation letter / sale agreement. Part payment & Part lifting will be Sole discretion of seller. Buyer shall have to deposit full payment with applicable taxes including 3% plus GST as buyer s Premium to QVAPL. Seller shall issue the Delivery Order only after realization of the payment from Buyer. 3 working days from the date of issue of Delivery order All offered bids are basic price only and applicable taxes & duties as per Law of the States will be in addition to the basic price. EMD of All Unsuccessful bidders will be returned within 2 working days & it will not carry any interest. EMD of Successful bidders / Buyers will be adjusted against the final total bid Value for this auction. On default in payment, lifting & violation in any terms of Sale agreement / delivery order on the part of H1 Bidder/ successful bidder / Buyer, the seller would reserve its Right of disposing the same material / goods under the successful bid to third party without informing to H1 bidder/ Buyer and the EMD amount so deposited by H1 Bidder / buyer, shall be forfeited without any intimation. Seller Quippo Infrastructure Limited Buyer Successful bidder/h1 bidder Auto extension of bid closing time is 5 minutes. If any bid placed in last 5 minutes of closing time of respective lot will extended for next 5 minutes. Each lot will be closed on interval of 1 minute. It is post approval auction. The highest bid received will be sent for approvals to seller who may reject or accept it without assigning any reason. The Seller shall issue a confirmation letter or execute a sale agreement within 20 working days of Bid Phone No , info@quippoauctions.com Page 3 of 5

4 closing date, in case of acceptance. Buyer shall not raise any claim or damages against Seller or Quippo Valuers & Auctioneers, in case of rejection of his highest bid. Interested Bidders shall be given to have a free access at the Seller s Premises for inspection of the Materials under disposal, as is where is basis, before placing the Bid & participating in the Online Auction. All Sales are strictly on As is, Where is basis, and No Exceptions, thereof. Buyers are advised to obtain all relevant information during inspection of the assets before Bidding. Seller Company or Quippo Valuers & Auctioneers Pvt Ltd will not entertain any grievances post Auction and also Tax Liability, Warranty or Guarantee of the quality, quantity, measurement, condition, defects in any item/s or lot/s from the Bidder s end. Please Inspect the assets as there may be missing parts / equipment in the Set. Please satisfy yourselves with the condition of the equipment being sold. No complaints at any cost will be entertained after the auction. BUYER/H1 BIDDER SHALL BE LIABLE TO PAY THE WINNING SALE AMOUNT along with TAXES without any EXCEPTIONS. Lot details given are indicative and BIDDERS are strongly advised to inspect the goods/assets/material in the Scheduled premises/ Warehouses before bidding. Registration & Participation Procedure:- To participate in the auction Bidders must file their registration online on Bidder/s /Buyer shall make any payment under this Auction through only by DD / Pay Order / RTGS in favor of seller. Bidder/Buyer has to submit Completely Filled and Signed Bidder Undertaking Form. PAN & GST Number is mandatory for participating in the Auction. Buyer has to submit Copy of PAN Card & GST Certificate. SELLER may disqualify any bidder from taking participation in the Auction, if found or discovered any CARTEL amongst the Bidders No proxy bid allowed. Do not disclose password to anyone. Taxes and Duties:- Buyer has to deposit Full Taxes and Duties if any before Lifting of sold Asset / Material. GST rates are applicable at the time of lifting. If there is any change in tax rate, buyer has to pay tax accordingly. Lifting:- All Assets must be removed from the Seller s Premises at own Cost of the Buyer within specified time period of Payment made. Packing and lifting of material will be the buyer(s) responsibility at their own Cost. Any mis-happening at the time of dismantling, packing, pickup, loading of machines / Materials will not constitute any liability on the Seller s end. The buyer Phone No , info@quippoauctions.com Page 4 of 5

5 is responsible to keep the warehouse & stockyard in order after removal of sold lots. In case of non-adherence, seller may reserve the right to impose penalties or forfeiture of payment deposited. For the lifting of sold material, successful bidder shall employ or engage their own personnel at their own cost, and shall keep seller fully indemnified against any claim whatsoever, for claim, injuries, death etc. The authorized personnel of the successful bidder visiting the warehouse for lifting the goods should necessarily carry due authorization letter and proper photo identity. The items will be delivered in situ on As is where is basis by Seller. Any picking, shorting, cutting, cleaning or breaking up of material will not be permitted. Successful Bidder has to make his own arrangements for shifting, loading, unloading, weighing and transportation of sold material at their own cost. Other Terms and Conditions: The highest bidder does not get any right to demand for the acceptance of his offer from Seller or Quippo Valuers & Auctioneers. Seller reserves the right to accept/ reject/ cancel any bid, withdraw any portion of the assets 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 thereof. In the event of such rejection/cancellation/ withdrawal, Seller shall refund the value of assets, if paid for, to the successful bidder. Discretion lies solely on Seller/s regarding this. Any Disputes related to the Assets / Documents, Post Sale, would be dealt by Seller only and the Quippo Valuers & Auctioneers Pvt Ltd does not have any involvement or does not have any role to play in the same. The Auction Company, Quippo Valuers & Auctioneers Pvt Ltd & / or the Seller Company, during the period of ONLINE AUCTION will not be held responsible for any power failures / Internet Connection failures / Bandwidth problem / erroneous Bids etc at the bidders end. Bidders themselves need to check it at their end and bid in advance and monitor their lots. The Terms & Conditions as referred herein above shall be the binding upon the Bidder/s /Buyer. Governing Law, Jurisdiction & Arbitration All disputes, differences and/or claims arising between the parties shall be settled by arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof and shall be referred to arbitration to be headed by a sole arbitrator who will be appointed by Seller. The said Arbitration proceedings will take place at Kolkata. The language of the arbitration shall be Hindi / English and the award given by said arbitrator shall be final and binding on all the parties. The parties hereto agree that only the courts and tribunals in Kolkata shall have exclusive jurisdiction in case a dispute arises out of the terms and conditions or its interpretation. Phone No , info@quippoauctions.com Page 5 of 5

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