MATERIAL: Old , Used & Unserviceable Items for E-Auction - Login ...

10. Sales Preference to Ancillaries for Burnt Oil: M/s Northern Coal Fields limited reserves the right to distribute
the quantity Lotwise between ancillary units of NCL and others subject to conditions as given below:
i. The Ancillaries must participate in the eauction for consideration of sale under
this provision.
ii. In case the Ancillary unit of NCL is not the Highest Bidder(H1) in the auction, a
counter offer for the H1 rate shall be offered to the Ancillary unit of NCL for their
acceptance within 24 hours of closure of auction for consideration of sale of 40%
of the quantity. An online screen will be launched on the auction platform of
mjunction wherein the Ancillary unit will login and give their acceptance to the
Highest Bid Price.
iii. In case the Ancillary unit of NCL accepts the counter offer of Highest Price then
the sale may be confirmed for 40% of the quantity to the Ancillary unit of NCL and
balance 60% may be confirmed for sale in favour of Original H1 Bidder.
iv. In case the Ancillary unit of NCL does not accept the Highest Bid within 24 Hours
of closure of auction, the entire lot (100% quantity) may be confirmed for sale in
favour of original Highest Bidder. Even if the Ancillary unit does not login within
the said scheduled closing time of 24 hours of the original closure of the auction,
then it will be construed that the Ancillary unit is not accepting the Highest Bid
and the entire lot (100% quantity) may be confirmed for sale in favour of original
Highest Bidder
v. This distribution of quantity shall be subject to terms of clause number 6 and
stipulated conditions vide other clauses of this auction catalog.
11. Security Deposit: The successful bidder shall have to pay a security deposit of 10% of the sale value of the lot
within 7(seven) days from the date of issue of sale intimation letter. The prebid EMD deposited by the bidder will
be not adjusted in the security deposit. The Security Deposited is to be paid as follows
• For sold lots on confirmed basis @ 10% of the Sale Value.
• For STA lots @ 10% of the Sale Value
The security deposit would be adjusted in the material value only after receipt of the balance material value
alongwith applicable Duties & Taxes within the due date. The SD must be remitted by way of PO/DD of any
scheduled bank in favour of “Northern Coal Fields Limited” payable at Morwa district Singrauli MP. This SD can be
submitted at any of the offices of mjunction services ltd. The security deposit so paid will not attract any interest.
The security deposit needs to be deposited lot wise. If the Security Deposit is not received within due date, the
sale will be treated as cancelled and the pre auction EMD deposited by the Bidder will be forfeited and & the
bidder will be liable to be debarred from the participation in all NCL auctions for a period of 6 (six) months.
12. Statutory Documents: All sales tax, terminal tax, excise duty and all other taxes, duties (imposts) whether to
payable to the central government or to the state government or to the municipal, local or other authorities shall be
deposited by the buyer with NCL. The sales value of the materials shall however be deposited with mjunction.
Non-payment of any amount payable under this clause will have the same effect as non-payment of the purchase
money and will result in ipso-facto cancellation of the sale and forfeiture of the security deposit. If the liability of
such tax (impost) and/or duty is in doubt, mjunction will have a right to call upon the buyer to make such provision
as NCL may deem fit and proper to ensure the recovery of such taxes (impost) and/or duty. If the tax (impost)
and/or duty is not recovered at the time of delivery/despatch NCL/mjunction will have the right to call upon the
buyer, to pay such amount as may be due whenever the NCL/mjunction find that it has omitted to charge or NCL
become liable to pay higher charge as a result of decisions or announcements by Government or any other
competent authority, even though, the full value of the materials may have been already paid or
delivery/despatches may have been completed from NCL’s units. NCL shall be free to call upon the buyer to make
good the amount short recovered whenever such contingency should arise, or NCL shall be entitled to recover the
Amount of such tax (impost) or duty from the buyer by way of set off against any amount or amounts that might at
any time become payable by NCL/mjunction to the purchaser on any account or accounts whatsoever. Taxes as
applicable from time to time shall be payable by the buyer.
Payment Clause:
12.1 The security deposit and the balance lot value (material value + applicable taxes & duties) are to be
submitted lot wise only. Separate instrument needs to be deposited for each lot. Each lot as indicated
in the auction catalog will be treated as a separate unit for the purpose of payment, lifting, refund etc.
while making payment of material value to mjunction, customer should submit the photo copy of e-
auction identity card for attestation by mjunction services limited, New Delhi which would accompany
with the delivery order to be sent to NCL, Singrauli
12.2 Balance Payment: Buyers shall make balance payments to mjunction by way of DD/PO in favour of
Northern Coalfields Limited payable at Morwa-3767,Singrauli MP or any other bank at Morwa in dist
Singrauli MP as per details given below:
1. For sale value up to Rs 10 Lakhs within 15 days of issue of Acceptance Letter.
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