Auction

Mumbai court clears auction of Mehul Choksi-linked Gitanjali Gems assets

The Mumbai special court directed that proceeds from the auction, estimated at around ₹46 crore, be placed in a fixed deposit under the court's name until trial concludes

Maharashtra rejects bond bids again as seven states raise ₹11,600 crore

Maharashtra declined all bids for its long-term bond re-issues even as seven states raised Rs 11,600 crore, below the notified Rs 13,600 crore, at the weekly auction on Tuesday

Tipu Sultan pistols, Ranjit Singh painting set new auction record in UK

A pair of pistols made for Tipu Sultan and an intricate painting of Maharaja Ranjit Singh were among the starring lots that helped set a new auction record for Sotheby's in London this week. The Arts of the Islamic World and India' sale on Wednesday fetched a combined total of over 10 million pounds, with both historic Indian auction lots outshining their guide price estimates considerably. The 18th century Mysore ruler's silver-mounted flintlock pistols, made especially for the Tiger of Mysore, sold to a private collector for almost 14 times the estimate for 1.1 million pounds. The painting of the 19th century founder of the Sikh Empire, depicting Maharaja Ranjit Singh in procession through a bazaar by artist Bishan Singh set a new record for Sikh art as it was acquired by an institution for 952,500 pounds. This wonderfully detailed processional scene depicts Maharaja Ranjit Singh, the Sikh leader, riding his elephant through a bazaar in Lahore, reads the Sotheby's catalogue ...

States, UTs borrow Rs 12,800 cr at auction, half of planned target

Higher tax devolution in October eased funding pressures for states, leading to lower-than-expected borrowing and a slight dip in yields on state government securities

Govt plans to bring in mechanism to curb irrational bidding by companies

It has been observed that such behaviour either distorts the bidding process and its price discovery function or lead to project delays when non-serious players bag contracts

Sebi proposes new closing auction framework for liquid derivative stocks

Markets regulator Sebi has proposed a new framework for the Closing Auction Session (CAS) in the equity cash market, starting with highly liquid derivative stocks to determine the closing prices of shares. The proposal, if implemented, is expected to reduce volatility, improve fairness, and make it easier for large and passive investors to execute trades. In its consultation paper, Sebi proposed that CAS would be applied in a phased manner, beginning with stocks available in the derivatives segment-- those with sufficient liquidity--and later extended to all stocks based on experience gained. A closing auction session is a short trading period held at the end of the day to determine the final price of a security. The regulator proposed that session will be held separately for 20 minutes, from 3:15 pm to 3:35 pm, unlike an earlier proposal that suggested conducting it after market hours, between 3:30 pm and 3:45 pm. The session would be divided into four phases --reference price .

Ministry of coal awards 7 coal blocks in 12th round of commercial auction

Blocks expected to fetch Rs 720 crore in annual revenue, attract Rs 787.5 crore investment, and generate over 7,000 jobs, says Coal Ministry

Biggest piece of Mars found on Earth going up for auction in New York

For sale: A 54-pound (25-kilogramme) rock. Estimated auction price: $2 million to $4 million. Why so expensive? It's the largest piece of Mars ever found on Earth. Sotheby's in New York will be auctioning what's known as NWA 16788 on Wednesday as part of a natural history-themed sale that also includes a juvenile Ceratosaurus dinosaur skeleton that's more than 6 feet tall and nearly 11 feet long. According to the auction house, the meteorite is believed to have been blown off the surface of Mars by a massive asteroid strike before travelling 140 million miles to Earth, where it crashed into the Sahara. A meteorite hunter found it in Niger in November 2023, Sotheby's says. The red, brown and gray hunk is about 70% larger than the next largest piece of Mars found on Earth and represents nearly 7% of all the Martian material currently on this planet, Sotheby's says. It measures nearly 15 inches by 11 inches by 6 inches. This Martian meteorite is the largest piece of Mars we have ever

Jane Birkin's original Hermes bag sells at auction for 7 million euros

Sketched out on an air sickness bag, the first Birkin bag that gave birth to fashion's must-have accessory sold for a record 7 million euros (about $8.2 million) at auction in Paris on Thursday. The huge amount which drew gasps and applause from the audience crushed what auctioneer Sotheby's had said was the previous record for a handbag. That was $513,040, for a White Himalaya Niloticus Crocodile Diamond Retourne Kelly 28. Now, the original Birkin bag, named after the actor, singer and fashion icon that Herms created it for the late Jane Birkin is in a new league of its own. The bidding started at 1 million euros ($1.17 million) and quickly became stratospheric. The Paris fashion house exclusively commissioned the bag for the London-born star in 1984 branding it with her initials J.B. on the front flap, below the lock and delivered the finished one-of-a-kind bag to her the following year, the auction house said. The subsequent commercialized version of Birkin's bag went on

E-auction of 730 FM radio channels to be conducted this month: I&B secy

Online auctions for 730 FM radio channels in 234 cities across the country are scheduled to start later this month, Information and Broadcasting Secretary Sanjay Jaju said on Thursday. Addressing the Broadcasting Engineering Society Expo here, Jaju said over 20 top companies from across the country have participated in bids that were invited for the auction under the Private FM Radio Phase III policy. "There are a lot of gains being made now in terms of the private FM radio. The auctions for private FM radio are slated to start this month," Jaju said. "I am sure that it will get good participation from many of the players," he said. In August last year, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal to conduct the third batch of e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore, under the Private FM Radio Phase III policy. In October last year, the Ministry of Information and Broadcasting invited ...

Tagore's handwritten letters fetch ₹5.9 crore at AstaGuru auction

The set of 35 letters auctioned was penned by Rabindranath Tagore to sociologist, musicologist and confidante Dhurjati Prasad Mukerji

Star items and Zero-G flight on offer at Artcurial's Paris charity auction

Scheduled for June 18 at Le Bourget, the Paris auction will raise funds for Aviation Without Borders' hospital-plane project with rare collectibles, flight experiences, and celeb donations

Sebi to auction 30 Rose Valley properties worth ₹409 cr to repay investors

The auction follows a 2015 order by the Calcutta High Court, which set up an Assets Disposal Committee to oversee the sale of Rose Valley's assets

Rare Golconda blue diamond with royal ties heads to auction in Geneva

Once part of India's royal treasure, the 23.24-carat Golconda Blue diamond will make its auction debut at Christie's Geneva, estimated at up to $50 million

Auction sets record for highest-value sale in South Asian art history

Tyeb Mehta's new record matches Amrita Sher-Gil's to become second most expensive work by an Indian artist

Parliamentary panel wants end use of spectrum clearly defined in auction

A Parliamentary panel has recommended that airwaves sold to companies should clearly identify their end use to avoid situations like the one that had led to CAG's critical remarks in the past about Reliance Jio making undue gains from BWA spectrum auction. The Standing Committee on Communications and IT, in its report, recommended that greater clarity be built into spectrum auction documents including clearly spelling out scope of usage of airwaves with robust mechanisms built to also ensure its efficient utilisation, as it cited CAG report of 2015 on how "deficiencies" in past BWA auction had led to an undue advantage of Rs 3,367 crore for Reliance Jio Infocomm (previously Infotel). Drawing attention to the said report, the committee further recommended that migration pricing for operators should be aligned with current market rates to prevent financial advantages that are not justifiable. "A robust mechanism for monitoring the progress of service rollouts should also be put in ...

Govt launches critical minerals exploration licence auction for 13 blocks

Union Coal and Mines Minister G Kishan Reddy on Thursday launched nation's first-ever auction of Exploration Licences (ELs) for 13 exploration blocks for critical minerals. Reddy launched the ELs in the presence of Goa Chief Minister Pramod Sawant in Dona Paula near here, a major reform aimed to unlock India's untapped critical and deep-seated mineral resources. The licenses are for the exploration blocks for minerals like REE (rare earth elements), zinc, diamond, copper, PGE (platinum group minerals) and others. The programme also featured a roadshow on the 5th Tranche of Critical Mineral Blocks and the launch of AI Hackathon 2025, a Mineral Exploration Hackathon focused on Mineral Targeting using AI (Artificial Intelligence). Addressing the gathering, Union minister Reddy said that in the last 10 years, India's mining sector has achieved many milestones and emerged as one of the fastest and most dynamic sectors of the country. Today marks another milestone in the industry, he ..

Govt to auction mineral exploration licences for 13 blocks on March 13

With the enactment of the MMDR Amendment Act, 2023, exploration licences were introduced to allow private participation in reconnaissance and prospecting for 29 critical and deep-seated minerals

IBBI mandates eBKray auction platform for selling assets under liquidation

The Insolvency and Bankruptcy Board of India (IBBI) has mandated the exclusive use of the eBKray auction platform to sell assets under the liquidation process from April 1. The eBKray (now known as Bank Asset Auction Network) is a property listing and e-auction platform designed for banks and lending institutions, addressing recovery of non-performing asset (NPA) loans through efficient property auctions. "The IPs were directed that they shall exclusively list the details of all the unsold assets in respect of the ongoing liquidation processes on the eBKray platform and that they may utilise the eBKray auction platform for the sale of assets in respect of ongoing cases for auctions," the regulator said in a circular on Friday. IBBI directed the IPs (insolvency professionals) to list unsold assets from ongoing liquidation cases for auction on the eBKray platform by March 31. Further, the board emphasised that all auctions for such assets would be conducted exclusively through the ..

DFS Secy launches 'Baanknet' portal as a one-stop property e-auction hub

According to a Finance Ministry statement, this platform consolidates information on e-auction properties from all PSBs and offers a one-stop destination for buyers and investors