I. GENERAL CONDITIONS
1. The e-sale/auction shall be registered online only.
2. The e- sale/auction could be made for the purchase of the whole unit/industrial concern or for the movable/
immovable assets like Land & Building and machinery or Vehicles etc. separately. If bids are submitted for Machinery
alone the same shall be considered subject to the possibility of the Machinery being dismantled and removed without affecting its condition, and it shall be at the risk of the bidder.
3. Inspection of the Properties ie, the Industrial concern notified for e-sale or part thereof shall be allowed at specified time by the authorised officer
of the Corporation and the interested parties are free to have the inspection before submitting e-bids.
4. The bids shall be received only till the time specified in the notification/advertisement mentioned and shall be submitted with Bid key provided against the asset ID specified.
The bid is opened automatically for e- sale/auction on the bid opening date and time.
5. The Corporation is free to accept or reject any bids without assigning reasons. The Corporation also reserves the right to postpone or cancel the e- sale/auction or bid and
to re-tender or re-auction or to negotiate with the tenderors or with anybody interested to purchase the unit or properties involved who offers better terms.
6. Once an e-sale/e-auction is confirmed the tenderer or the party in whose favour the sale is decided shall remit a minimum of 25% (Twenty five percent) of
the e-sale value or amount so specified/agreed, upon with the Corporation, within 7 (seven) days of the confirmation or on the date so specified in the auto
mail/SMS of confirmation. E M D will be adjusted against this amount. If the successful e-tenderor/e-bidder fails to make the payment as aforesaid and take
delivery of the properties involved, the auto mail/SMS of confirmation shall stand revoked automatically and the E M D shall stand forfeited. Similarly if
after making the advance as prescribed, the bidder fails to make further payment and get the deal settled, the advance so paid shall stand forfeited. The Corporation
will then be free to retender and/or re-auction the industrial concern or part thereof or carry on negotiation at the risk of the e-tenderor and for any loss or damages
caused in this account shall be recoverable from the e-tenderor/e-bidder/parties.
7. The balance 75% (Seventy five percent) of the bid amount will be deposited by the party within 30 (thirty) days of the confirmation. The unit/property/ machinery/Vehicle
will be handed over only after the execution of the sale deed/sale note in favour of the bidder/e-tenderor or his nominee. In the case of deferred payment with approval of
the Corporation in deserving cases the unit will be handed over only on sufficient collateral security and on the security of the industrial site sold.
8. Any outstanding dues on account of Electricity and water supply or other statutory dues, if any, shall be borne by the bidder and the Corporation shall not be responsible for the same.
9. The industrial concern/other assets (movable/immovable) or part thereof e-auctioned/sold by the Corporation will be in "as is where is condition" and the Corporation will
not be responsible for any defect or damage caused or bad performance of any or whole of the property/assets/movable/immovable so sold.
10. It shall be the responsibility of the bidder to get the industrial land or building or both re-allotted to the purchaser by the appropriate authority in case of industrial
Concern situated in any Industrial Estate, Mini Industrial Estate, Development Area, or Development Plot etc by payment of separate fees/value/usage charge/outright purchase
money/lease rent etc as may be fixed by the concerned authority.
11. The sale deed/ sale note as the case may be shall be executed and registered by the Corporation at the expense of the bidder or purchaser.
12. The successful bidder shall have to deduct TDS applicable on the sale value or amount and submit a copy of the original receipt of TDS certificate of Corporation.
13. In the case of vehicles sold, the Corporation has no responsibility in the matter of permit, licence of any penalty imposed under law. The Corporation shall not be responsible for tax arrears if any due on the vehicle and it shall be the responsibility of the bidder to get the vehicle transferred in his name at his expense for which all necessary applications and forms will be signed and given to the purchaser by the Corporation.
14. The Corporation reserves the right to accept or reject the e-bids without assigning any reason whatsoever.
II. SPECIAL CONDITIONS SETFORTH BY THE ADMIN/AUTHORISED OFFICER. 1. Any individual, Company or Legal entity can participate in the E-sale.
2. Properties are brought for sale on “As is where is basis” with physical or symbolic
possession.
3. The E-sale consists of 8 days of Tender days and 3 days of Bid days.
4. The Reserve Price for the assets are Rs.5,21,00,000/- ( Five crores Twenty One Lakhs only)
5.Bidders should quote their prices for purchase of assets excluding all statutory
liabilities on the assets. Statutory dues like electricity charges, local body taxes, other
dues etc. should be borne by the bidders. Bidders are advised to make their
independent inquiry about statutory dues and other details relating to the property /
assets.
6. The interested person/s may physically inspect the property.
7. The person/s who are interested in participating in E-sale have to register with KFC's E-sale website (http://www.kfcauction.org) as a bidder through Internet. After registration, he should forward scanned passport size photo, signature, address proof, (Xerox copy of Ration Card/ Passport/ Voter's ID Card/ Driving Licence / Bank Pass Book/ PAN Card) to the Branch Office concerned along with the online registration ID.
8. Payment of EMD can be made through (Cheque/ DD/ NEFT/ RTGS) against an asset (Property) and report to Admin officer with EMD details by mail or in person. Bidder will get Auction permission letter with an auto generated 'Bid Key Code'from the Admin Officer after verification of the EMD details. One bid key against one asset to one bidder. E-sale consists of e- Tender and e-Bid. The registered bidder can participate in either e-Tender or e-Bid or both.
9. The E-Tender will commence on 20.03.2021 at 05.00 PM and will be closed on 28.03.2021 at 05.00 PM. The e-Bid will starts on 28.03.2021 at 05.00 PM and closes on 31.03.2021 at 05.00 PM.
10. First successful bidder will get auto-mail /SMS indicating that his Bid/Tender is the highest. Second successful bidder will get auto-mail /SMS indicating that his Bid/Tender is second. Other bidders will get regret auto -mail alert.
11. On confirmation of sale the bidder has to pay 25% of the sale price within 7 days and the balance amount on or before 30thday from the date of sale confirmation. The EMD will be adjusted to the sale price. (a highest bidder in e-sale cannot have right to get the property or any privilege, unless the authority confirms the auction sale, being fully satisfied that the property has fetched the appropriate price and there has been no collusion between the bidders.) if the first party does not remit the 25% of the sale price before the said time or backed out the second highest bidder (offer higher than reserve price) may be considered for the e-sale. If the bidder fails to pay the sale price as above the authority concerned has the power to set aside the sale and to forfeit the part payment and EMD. The sale will be conducted afresh in compliance of the above procedure.
12. On remittance of sale price as directed the authority concerned shall execute the sale deed in favour of the bidder at the earliest date as proposed by the bidder. The cost of the stamp duty and documentation has to be borne by the bidder. Any statutory or other dues or liabilities known or unknown relating to the assets are to be borne by the buyer. The delivery of the property has to be made to the bidder with proper acknowledgement. In the case of movable assets sale certificate shall be issued in favour of the bidder.
13. Any dispute shall be subjected to the jurisdiction of Court at Thiruvananthapuram.
14. KFC shall not be held responsible if a bidder is not able to bid successfully due to technical reasons like bad Internet connectivity, defective computers, lack of sufficient knowledge in carrying out bidding.
15. KFC reserves the right to cause any modification of any terms and conditions, cancel/postpone the e-sale and accept or reject any bid without assigning any reasons thereof. |
