Documente Academic
Documente Profesional
Documente Cultură
**Conditions Apply**
AUCTION INFORMATION
EMD - INR 50,000/-
Rs 50,000/- (Rs Fifty Thousand Only) for bidding in for all lots *
❖ EMD Mode:Through DD / pay order in favor of “ iQuippo Services Limited ” payable at any office location. *DDs from
nationalized / Pan India operation banks are only accepted. EMD also to be transfered to iQuippo thru EFT (RTGS/NEFT)
❖ A/c Holder Name : iQuippo Services Ltd, Bank Name : Axis Bank Ltd. A/c No : 917020058796837,
Auction Services Provided by Set of Qualified & Highly Experienced Team members
OF
ASSET INSPECTION
Please inspect the asset(s) as there may be missing parts / equipment in the Set by yourself to ensure complete satisfaction
and knowledge about the condition of the equipment being sold. No complaints - at any cost - will be entertained after the
auction. For viewing the asset contact iQuippo for gate pass.
DELIVERY ORDER
Delivery Order will only be issued in the name of successful Bidder once full payment is cleared. Resale will not be allowed
before receipt of full and final payment by SELLER.
EMD PAYMENT
➢ EMD can be paid through DD or Pay Order, in favor of “iQuippo Services Limited”, payable at any office location.
*DDs from nationalized / Pan India operation banks are only accepted.
➢ EMD can also be paid online through iQuippo.com using the online payment gateway. NEFT/RTGS payment also
allowed, subject to timely realization and payment proof.
BUYER’S PREMIUM
Winner Bidder has to pay 2 % + GST @ 18% on the BP as Buyer's Premium on Approved Sale Value to “iQuippo Services
Ltd.” separately & it will be adjusted with the Security Deposit
Others T&Cs
➢ All sales are strictly on “As is, Where is basis”, with no exceptions whatsoever.
➢ Buyers are advised to obtain all relevant information before bidding and during the inspection of the assets. The SELLER or
iQuippo will not entertain any queries or grievances post Auction. This is applicable to all issuers, including issues/queries
pertaining to Tax Liability, RTO Expenses, RTO Hold asset, post sale Docs, Warranty or Guarantee of the quality, quantity,
measurement, condition, defects in any item/s or lot/s from the Bidder’s end.
➢ Lot details given are indicative only and the Bidder(s) is (are) strongly advised to inspect the assets in the Seller’s
warehouses/premises/third-party parking lots before bidding
➢ Any communication with the Company’s staff members excepting at the time of registering for the auction or filling Bidder
Undertaking form is not allowed. Forming or attempting to form CARTEL amongst Bidder is strictly not allowed and will
result in disqualification of the Bidder(s). Any Bidder(s) found in indulging in any of the above mentioned activities will be
disqualified and barred from participating in the Auction.
➢ The highest bidder does not get any right to demand acceptance of his offer/bid. SELLER reserves the right to accept/
reject/ cancel any offer/bid, withdraw any portion of the assets at any stage from Auction even after acceptance of offer /
bid/ issue of delivery order or release order/ deposit of full value by successful bidder without assigning any reason thereof.
In the event of such rejection/cancellation/ withdrawal, Seller shall refund the value of assets, if paid for, to the successful
bidder. Discretion lies solely on SELLER regarding this.
➢ No Lots can be removed without full payment being realized and presentation of original Delivery Order from SELLER.
➢ Any Disputes related to the Assets / Documents, RTO procedures, Post Sale, would be dealt by SELLER only and iQuippo
does not have any involvement or does not have any role to play in the same.
➢ The seller does not give any guarantee in providing R C Books of all the assets which were earlier registered with RTA and /
or RTO form 19/20/21/22/TCR for assets which are unregistered. The tenderer / bidder(s) should make their own
arrangements for completing the entries in R C Books of assets purchased by them. Once the delivery is affected the seller
is deemed to have been completed transaction. Ownership Transfer is fully buyer's responsibility.
The Parties hereto agree that only the courts and tribunals in Kolkata shall have exclusive jurisdiction in case a dispute arises
out of the terms and conditions or its interpretation
GST APPLICABILITY
Please note that the GST is applicable on the assets purchased by you as per Rule 32 (5) of the Central Goods and
Service Tax (CGST) Rules, 2017 which states that: Provided that the purchase value of goods repossessed from a
defaulting borrower, who is not registered, for the purpose of recovery of a loan or debt shall be deemed to be the
purchase price of such goods by the defaulting borrower reduced by five percentage points for every quarter or part
thereof, between the date of purchase and the date of disposal by the person making such repossession. Hence, value
of Supply would be the difference between the selling price and purchase price as determined above, and where the
value of supply is negative, the same shall be ignored. The amount of GST thus arrived at as per the above rule shall
be a part of the bid amount.
GST will be calculated on Depreciation method & inclusive of bid amount however the seller/s may or may not be
provide any GST invoice. Please check with the sellers/ auctioneer before participate in the auction.
Pre-Sale Documents from BIDDER
Buyer has to submit Indemnity Deed, Legal offer letter, offer Letter, Undertaking, Letter to prospective buyer & etc on seller’s
demand on a non-judicial stamp paper with notarized to get Delivery order along with post sale documents. The format will be
provided by the seller once sale proceed done to the seller
LIFTING PERIOD
Within 7 days from the date of Delivery Order. If delay in taking delivery after the date mentioned on the Release Order, the
buyer is liable to take delivery from each yard accordingly. Seller has no role in this regard. Also note neither seller / Yard or
Auctioneer will be responsible for the upkeep, maintenance or security of the assets after the date mentioned in the release
order. If the winner buyer doesn’t take delivery of the asset within 30 days from the date of delivery order the seller may reject
the sale & sale the asset to another buyer & sale proceed may forfeited without any intimation. And such cases the buyer’s
claim on the said asset will cease to exist.
PARKING CHARGES
➢ The parking charges to be paid by the winner buyer extra on the sold value directly to the yard/seller for the assets . The
parking charges to be calculated from the repo date till delivery date of the assets. Parking charges to be calculated per
day basis as per the standard policy of the seller. Buyer has to get information from the respective yard & the seller
regarding the repo date & per day basis parking charges before bidding.
➢ Parking charges/Repo date mentioned in catalogue are purely information provided by seller to IQUIPPO.
➢ The applicable parking cahrges, Upkeep charges & TCS (whereever is applicable) need to pay additionally over
and above the bid amount.
PAYMENT TIMELINES
Payment deadline is strictly within 7 days from the date of approval or within the month end which ever is lower. Approval
status/ LOA will be given by iQuippo on behalf of Seller thru E-Mail/ SMS within 15 working days or month End which ever is
higher.
RTO TAX
RTO tax arrears must be updated in the concerned RTO before taking the delivery Order & tax paid receipt/ RTO NOC
has to be submitted for all the Assets parked at various stockyards covering all states in PAN India. RTO liabilities
on registerable assets parked at Rajasthan & Orissa states need to be checked and verified by bidder before
participating in the auction and No claim would be entertained by the seller later on.
REGISTRATION
Others Terms PROCESS
& Conditions apart from above
Buyers are required to submit the following documents along with Bidder Undertaking & photocopies of both faces of
documents. All the documents must be dully signed & stamp by the participant.
For Online Auction Registration, participants need s to submit OTP during the registration along with copy of PAN, Address
Proof , GST Certificate & Cancelled Cheque
3) Rs 50,000/- (Rs Fifty Thousand Only) for bidding for All lots *
only to the SELLER/S and the Delivery Orders will be issued by the SELLER itself .
TCS APPLICABILITY
In case of purchase/ sale of assets for an invoice value exceeding Rs 10 Lakhs, TCS @ 1% is may applicable on seller's
demand .
Ownership Transfer to RTO
Name transfer to RTO is buyer's responsibility, Neither the seller nor the Auctioneer will take responsiblity. Standard RTO
docs like Form-26, 28, 29, 30, 35 & NOC will be provided by the seller. Any issue like RTO blokages, seller's presence at RTO
etc will not entertain after auction. RTO Docs will be provided by the seller within 30-45 days from the date of Delivery Order.
Winner buyer has to make his own arrangements for Ownership Transfer to respective RTO.
Regarding the terms & conditions, Like parking, RTO docs , TCS, GST, OI,Form-36, additional docs etc
are applicable or not for the listed assets, please verify with selles/ from iQuippo team before bid.