Terms and conditions
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 60 days of Tender days and 3 days of Bid days.
4. The Reserve Price for the assets are Rs. 28,51,00,000-(Twenty Eight Crores Fifty 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 02.12.2017 at 11.00 AM and closed on 31.01.2018 at 05.00PM. The e-Bid will starts on 31.01.2018 at 05.00 PM and closes on 03.02.2018 at 05.00PM.
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 or Rs. 5.00 lakhs whichever is lower 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 can not have right to gey 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 or Rs. 5.00 lakhs whichever is lower 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. Corporation will give at least two year Legal/Technical guidance/support in all matters relating to the sale of property without involving financial commitment for the Corporation.
16. 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. |
