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. 

 

Terms & Condition

  1. 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.
  2. 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.
  3. The successful bidder shall have to remit the full amount within two days from the auction.
  4. The Sale Release Order shall only be issued after receiving the balance 75% of the bid money.
  5. 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.
  6. The successful, bidder shall have to lift the material within three days from the issue of Sale Release Order.
  7. 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.
  8. The undersigned reserves the right to accept or reject all or any bid and to cancel or postpone the auction without assigning any reason.