Page 5 - Auction

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

JCI plans e-auction jute trading platform to modernise supply chain

Jute Corporation of India (JCI) on Friday said it was working on an e-auction platform in jute trading to modernise the supply chain of the environment-friendly fibre. The Corporation said it was geared up for MSP (minimum support price) operation for the upcoming jute season beginning July 1, with its extensive network spread over eight states. JCI Chairman and Managing Director Ajay Kr Jolly said they are working on the finer details and ironing out the complexities involved in the e-auction system. The platform is expected to be owned and managed by JCI. Jolly said the Corporation has 110 purchase centres operated by it and will engage about 500 extended purchase centres in association with cooperatives and NGOs in eight states. This year, the MSP for reference grade of TD3 has been raised by Rs 300 to Rs 5,050 per quintal in the 2023-24 season. In the 2022-23 jute season, the corporation has already procured 5.6 lakh quintals, which is the highest in the last five years, Joll

'Smaller than a grain of salt': LV's miniscule handbag sold for $63,000

Louis Vuitton: The bag was auctioned off for $63,750 as part of the Just Phriends sale, which took place from June 19 to June 27 at Pharrell Williams' auction house, Joopiter

Technical bids for 7th coal block auction to open on Wednesday: Ministry

Technical bids coming for the seventh round of commercial coal block auctions will be opened on June 28, an official statement said on Monday. "As part of the auction process, Technical Bids comprising of online and offline bid documents will be opened on June 28, 2023, 10:00 am onwards at New Delhi, in the presence of the bidders," the Ministry of Coal said in a statement. The last date for submission of online technical bids for all the coal mines is 1200 hours on June 27, 2023, and offline submission is 1600 hours on June 27, 2023, it said. On March 29, the government on Wednesday launched the seventh round of commercial coal auctions in a bid to increase the availability of dry fuel in the country. A total of 103 coal mines were put on the block in the latest round of auctions. Of the total mines offered, the majority of blocks are partially explored. The government amended the mineral laws to open up the coal sector to provide a level-playing field to the public and private .

Team, player auction dates for Grand Prix Badminton League announced

The auction for the second season of Grand Prix Badminton League (GPBL) will be held on June 10 and will feature bids for 10 teams including from Delhi, Mumbai, Chennai and Bengaluru. The league has unveiled its team and player auction plans. The event will see players from across 25 countries participating in it. Speaking about the upcoming season, Prashanth Reddy, league commissioner said: "With the objective of expanding the league's reach, GPBL Season 2 will feature a total of 10 teams as against eight in the first season. With the overwhelming response from players and the addition of two new teams, we are confident of yet another successful season." The auction will feature bids for the Bengaluru, Chennai, Hyderabad, Kerala, Mumbai, Pune, Ahmedabad, Delhi, Lucknow and Odisha teams. "The league aims to provide a platform for both domestic and international talent to not only showcase their skills but give them an opportunity to earn substantial money to fund their training and

CPWD opens bids for Parliament's electrical installations' maintenance

With the new Parliament building nearing completion, the CPWD has invited bids for deployment of "skilled and unskilled staff" for maintenance of electrical instruments installed at the existing building for 12 months at an estimated cost of around Rs 1.29 crore. An official said that the successful bidder will have to ensure maintenance of all internal and external electrical installations inside and outside the existing Parliament House by deputing highly skilled, skilled and unskilled staff. According to the CPWD document, the last date to submit the bid is May 16 and it will be opened the same day. The estimated cost of the proposed work is Rs 1,29,95,688. "All the equipments and installations shall be maintained in neat and clean condition. The watch and ward of installation shall be the responsibility of the contractor," the agency said in the bid document, accessed by PTI. The new Parliament building is being constructed under the government's ambitious Central Vista ...

Govt may soon invite financial bids for selling 26% in defence PSU BEML

The government may soon invite financial bids for strategic sale of defence PSU BEML after its non-core business got listed on the bourses last month. In January 2021, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. It received multiple expressions of interest (EoIs) for the sale. Following that, in October last year, BEML demerged its non-core businesses into BEML Land Assets and listed the new company on the bourses on April 19, 2023. The listing of land and other non-core assets is complete. Now we will soon invite financial bids for the core assets, which is construction and defence related, an official told PTI. BEML is a diversified company supplying product, services and support to defence & aerospace, mining & construction, and rail & metro for clients within and outside India. The government currently holds 54.03 per cent stake in BEML, which is a public sector undertaking under the defence ...