Auction Sale for Disposal of Condemned items
It is for the information of general public that the public auction of the Unserviceable/Obsolete/Condemned stores, shall take place on 28.03.2017 at 11:00 AM in the premises of Indian Institute of Advanced Study, Shimla – 171005.
Details of the disposal stores can be procured form the Institute and the material can be inspected by the interested parties/persons on any working days from 10:00 AM to 5:00 PM in the premises of the Institute. The interested parties may contact Sh. Bali Ram, Section Officer (9805650502) inspect the material.
- The intended bidders will have to deposit a sum of Rs. 1000/- (One thousand only) as Earnest Money in the form of demand draft from any Nationalized Bank in favour of Accounts Officer, Indian Institute of Advanced Study Shimla – 171005. The earnest money will be refunded to the unsuccessful bidders after auction is over except of the 1st and 2nd highest bidder.
- The successful bidder, whose after will be accepted, shall be required to deposit 25% of bid money immediately, failing which the Earnest money shall be forfeited.
- The successful bidder shall have to remit the full amount within two days from the auction.
- The Sale Release Order shall only be issued after receiving the balance 75% of the bid money.
- In case the bidder who has deposited 25% of bid money fails to deposit the balance 75% of the bid money within the stipulated period, the 25% of the bid money and the Earnest money so deposited with the Institute shall be forfeited.
- The successful, bidder shall have to lift the material within three days from the issue of Sale Release Order.
- In case the bidder after remitting the full amount fails to lift the material within stipulated time the undersigned will have the right to re-auction such materials at bidder’s risk and cost.
- The undersigned reserves the right to accept or reject all or any bid and to cancel or postpone the auction without assigning any reason.