Page 4 - Auction

Akali Dal 'saddened' over auction of Golden Temple model gifted to PM Modi

The proceeds of the auction will go to the government's 'Namami Gange' initiative, a project aimed at rejuvenating the river Ganga

E-auction of PM mementos: Ram Darbar statue, Jerusalem souvenir among items

A statue of Ram Darbar, a model of Golden Temple of Amritsar, Kamdhenu and the souvenir of Jerusalem are among the popular items in the latest round of e-auction of gifts and mementos given to Prime Minister Narendra Modi, Union minister Meenakashi Lekhi said on Monday. The e-auction that began on October 2 will end on October 31. Minister of State for Culture Lekhi interacted with media at the National Gallery of Modern Art (NGMA) here and shared about the cultural significance of the items under the e-auction, and urged people to come forward and take part in it. The minister emphasised that the statue of Ram Darbar, a model of Golden Temple of Amritsar, Kamdhenu and the souvenir of Jerusalem, are among the popular items in this auction and attracting a lot of bidders. A statue of Lord Laxmi Narayan Vitthal and goddess Rukmini, the Aranmula Kannadi, a brass statue of Lord Rama, Sita, Laxman, and Lord Hanuman, are also among popular items, according to the Culture Ministry. Repli

Google changed ad auction formula in 2017, raising prices 15%, says witness

Google's advertising auctions require the winner to pay only a penny more than the runner-up

Govt to start critical minerals auction in few weeks, says official

It is also set to notify draft rules for exploration licences for the resources

FCI sells 189,000 tonne wheat, 5,000 tonne rice in 15th weekly e-auction

State-owned Food Corporation of India (FCI) sold 1.89 lakh tonne of wheat and only 5,000 tonne of rice to bulk consumers like flour millers in the 15th weekly e-auction held on Wednesday. Wheat and rice are being sold under the Open Market Sale Scheme (OMSS) to bulk users to improve the domestic availability and cool down retail prices. According to the food ministry, about 1.89 lakh tonne of wheat was sold in the weekly e-auction held on October 4 against 2.01 lakh tonne offered. However, FCI continued to get lukewarm response for weekly e-auction of rice under OMSS with traders purchasing just 5,000 tonne of grains against 4.87 lakh tonne offered. Wheat and rice were sold to 2,255 bidders during the e-auction. Around 2,447 empanelled buyers participated for both wheat and rice, the ministry said in a statement. The weighted average selling price was Rs 2,185.05 per quintal for fair and average quality (FAQ) wheat against the reserve price of Rs 2,150 per quintal, while the weigh

Tea Board to revert to the old English auction system across India

The Tea Board of India has written to registered auction organisers across the country, producers associations and buyers associations that it has been decided to revert to the old English auction system for which it has issued necessary timelines. The letter issued on Monday said that it has been decided to introduce the practices of the erstwhile English auction system under the ambit of the Bharat auction model. Earlier, the Bharat auction system was introduced in North India in April 2023, while the same was already in force in South India much before. The letter said that the Tea Board had already held consultations with NSEIT Limited regarding the re-introduction of the features of the English auction system in the newly configured software. While the Tea Board had earlier suggested dropping of sale numbers 39 and 40 in all the auction centres across India, the statutory body revoked the decision after producers' bodies said the tea companies would suffer financially if these

Sebi to auction property of Saradha Group's property on October 17

Market regulator Sebi has said it will auction the property of the Saradha Group of companies next month at a reserve price of over Rs 3 crore to recover money raised by the firm from the public through illicit schemes. The property located in West Bengal will go under the hammer, the Securities and Exchange Board of India (Sebi) said in a notice dated September 15. The regulator said the e-auction will be conducted between 11 am and 1 pm on October 17. The reserve price of the property is pegged at Rs 3.68 crore. Sebi has engaged Quikr Realty to assist it in the sale of the property and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed the regulator to proceed with the auction of properties of the Saradha Group of Companies. Saradha Group, a consortium of over 239 private companies, allegedly ran chit-fund operations in West Bengal, Assam and Odisha, and raised around Rs 4,000 crore f

Amrita Sher-gil's painting becomes most expensive work by an Indian ever

The 1937 painting 'The Story Teller' fetched a whopping Rs 61.8 crore at Saffronart's 'Evening Sale: Modern Art' in New Delhi

Tea auction system not helping in optimum price discovery in N India: CTTA

Tea producers have opined that the new Bharat auction system introduced in North India from April this year is not helping in the discovery of optimum prices of the brew. According to Tea Board data, average price realisation in North India from April to July in 2023-24 was lower at Rs 205.10 per kilogramme as compared to Rs 220.74 per kilogramme in the same period of 2022-23, when auctions were conducted using the English system. The Bharat auction system was introduced in Kolkata, Guwahati and Siliguri from April this year replacing old the English auction system. Anish Bhansali, immediate past chairman of Calcutta Tea Traders Association (CTTA), which provides the auction platform in Kolkata, said "the English auction system was better for the users. He said the auction prices have been lower in the current year because of the poor demand conditions. "At the end of the day, the issue boils down to the question of demand and supply. Having said that, I feel the English auction ..

Govt to start auction process for 100 critical mineral blocks in 4 months

India is racing to ensure critical minerals security to power its ambition to make the country a key battery and electric vehicles manufacturing hub and help attain a net zero goal

Punj Lloyd fails to attract any bidder in second round of e-auction

Debt-ridden engineering, procurement and construction company Punj Lloyd, which is facing liquidation, has again failed to attract any buyer in the second round of e-auctions conducted by its liquidator. The second round of e-auction was conducted on the directions of the National Company Law Tribunal (NCLT) at a reserved price of Rs 1,061 crore on a going concern basis, according to a regulatory filing by the company secretary. "...e-auction notice dated July 24, 2023 made pursuant to Asset Sale Process Memorandum (ASPM) for the second e-auction- Punj Lloyd Ltd (in liquidation), announcing the sale of Punj Lloyd Ltd at the Reserve Price of Rs 1,061 crore ongoing concern basis undergoing liquidation pursuant to order dated May 27, 2022 of NCLT, New Delhi, Principal Bench, has failed to attract any bidder," the filing said. In July, Punj Lloyd had failed to get any buyer in the first round of e-auctions conducted by its liquidator. A reserve price of Rs 1,061 crore was fixed for Pun

Onion export duty: Auctions begin in Maha APMCs, stop later over low prices

Onion auctions resumed for some time in a few APMCs in Nashik in Maharashtra on Thursday after being stalled since Monday even as more than 500 farmers blocked the Mumbai-Agra highway seeking cancellation of the Union government's decision to impose 40 per cent export duty on the kitchen staple, officials said. Auctions began at the APMCs in Lasalgaon, the largest wholesale onion market in the country, as well as Pimpalgaon and Chandwad in the morning but were stopped some time later after the farmers did not get the Rs 2,410 quintal as promised by NAFED, an apex organisation under the Union Agriculture ministry, and NCCF, they said. Officials said farmers also stopped the auction since personnel from NAFED, or National Agricultural Cooperative Marketing Federation of India Limited, were absent during the auctions. "In Lasalgaon, as many as 300 vehicles laden with onions arrived for auction in the morning with minimum price per quintal being Rs 600, the maximum being Rs 2,500 and ..

BoB withdraws Sunny Deol's villa auction notice, cites technical reasons

Reversal in decision comes within a day of the initial auction notice for the actor's Juhu property

Trials for Coal India's in-house e-auction platform successful: Officials

The trials for Coal India's in-house e-auction platform have been carried out satisfactorily, and the mechanism can have a full-fledged rollout across the company's coal-producing subsidiaries, officials said Sunday. A total of seven trial auctions involving nearly 18 million tonnes of coal have been conducted, they said. The mining major has entrusted its wholly owned subsidiary Central Mine Planning & Design Institute (CMPDI) to rollout the in-house e-auction system, with technical assistance from the National Informatics Centre. At present, external agencies like MSTC and mjunction are in agreement with Coal India to execute e-auctions of coal. "During initial trials, there were some teething issues that were resolved by CMPDI and NIC officials. In subsequent e-auctions, the trials were conducted smoothly. The entire system is automated, without any manual intervention," one of the officials said. "The charges are levied as per directions of Coal India," he said. CMPDI has ...

Sebi extends auction date for properties of 7 companies to Aug 31

Sebi extends auction date to Aug 31 for properties of 7 companies

Sebi to auction properties of 7 cos on Aug 21 to recover investors' money

Sebi on Tuesday said it will auction 15 properties of seven companies, including Sunheaven Agro India and RaviKiran Realty India, along with that of promoters and directors on August 21 to recover money illegally collected from investors. The other firms whose properties will be auctioned are -- Infocare Infra, Bharat Krishi Samridhi Industries Ltd, GSHP Realtech Ltd, Just-Reliable Projects India Ltd, and Newland Agro Industries Ltd. The properties will be auctioned at a reserve price of Rs 13 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). These assets include land parcels and a residential building located in West Bengal. Of the 15 properties, four relate to Bharat Krishi Samriddhi Industries, three each of Just-Reliable Projects India and Newland Agro Industries, two related to Sunheaven and one each of RaviKiran Realty India, Infocare Infra and GSHP Realtech. Inviting bids for the sale of properties in the recovery proceedings .

Madhya Pradesh puts 51 blocks on auctions including 14 of critical minerals

Madhya Pradesh on Friday issued a tender notice for the auction of 51 mineral blocks, including 14 with critical minerals, according to a release. This is the highest number of mineral blocks notified for the auction in a single tranche by any state, the Mines Ministry said in the release. "Madhya Pradesh has announced the largest number ever of mineral blocks for auction. The state has issued Notice Inviting Tender (NIT) for auction of a record number of 51 mineral blocks on July 14th," it said. The 51 blocks comprise 14 minerals including strategic and critical minerals like graphite and vanadium, platinum group of elements (PGE) and also other major minerals such as manganese, bauxite, limestone, iron ore, base metal and gold. "13 blocks are for mining lease and 38 blocks are for composite licence," it said. While mining lease is given for mines with proven reserves, composite licence for mines where some level of exploration is needed. Madhya Pradesh auctioned 29 blocks in ..

Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14

Capital markets regulator Sebi on Wednesday said it will auction 22 properties belonging to Bishal Group of companies and NVD Solar on August 14 to recover money illegally collected from investors. The properties will be auctioned at a reserve price of nearly Rs 37 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). Of the 22 properties, 17 relate to Bishal Group of companies (Bishal Abasan India Ltd, Bishal Distillers Ld, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd) and five pertain to NVD Solar. These properties include land parcels, flats and a residential building located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the companies and their promoters and directors, Sebi said the auction will be conducted online on August 14 from 10:30 am to 12:30 pm. Adroit Technical Services has been appointed as the e-auction service provider. The regulator has asked

UP govt to organise mega e-auction to allot industrial plots: Officials

With a view to allotting plots for industrial projects on a large scale, the Uttar Pradesh government will organise a mega e-auction on Thursday, officials said. The online auction would be held from 10 am for industrial plots in Lucknow, Kanpur, Trans Delhi Signature City, Ayodhya, Agra, Meerut, Ghaziabad, Bareilly, Gorakhpur and Aligarh, they said. A total of 154 industrial plots, 3 group housing, one nursing home, 8 plots for warehouse and others will be put up for the auction. The e-auction is being organised by Uttar Pradesh State Industrial Development Department (UPSIDA), they said. For participation in this mega bidding process, depositing fees including application, catalogue downloading, document filing and downloading has already been completed through online medium. Not only this, the base pricing of all these proposed plots and rented halls has also been fixed to facilitate bidding process. The highest base prices have been kept for the industrial plots in Trans Delh

Sebi to auction two properties of Swar Agrotech on Aug 7 to recover money

Capital markets regulator Sebi on Friday said it will auction two properties of Swar Agrotech India Ltd at a reserve price of over Rs 1 crore on August 7 to recover money raised by the firm from the public through illicit schemes. Inviting bids, the Securities and Exchange Board of India (Sebi) said an auction of the properties will be conducted through online mode between 11 am and 1 pm on August 7. The land parcels, which are going under the hammer, are in Uttar Pradesh. Further, the total reserve price has been pegged at Rs 1.07 crore for the assets, the regulator said in a notice. Quikr Realty has been engaged by Sebi to assist in the sale of these properties. Interested candidates can inspect the properties during July 17-21, Sebi said, adding that bidders should make their independent inquiries regarding the encumbrances, title of properties put on auction, and claims, among others, before submitting their bids. Going by the Sebi order, Swar Agrotech had mobilized around Rs