Page 6 - Auction

FCI sells 540,000 tonnes of wheat under OMSS in 4th round of auction

State-run Food Corporation of India (FCI) sold 5.40 lakh tonnes of wheat to bulk consumers like flour millers in the fourth round of e-auction held on Wednesday. In the previous three rounds, about 18.05 lakh tonnes of wheat was sold under the Open Market Sale Scheme (OMSS) to bulk users as part of steps to cool down retail prices of the foodgrain and wheat flour. The next weekly e-auction will be held on March 8. "Total quantity of 11.57 lakh tonne wheat was offered and 5.40 lakh tonne wheat has been sold to 1,049 bidders in 23 states," an official statement said. Wheat was sold at an all-India weighted average reserve price of Rs 2,137.04 per quintal during the 4th auction. Maximum demand was for wheat quantities in the range of 100 to 499 tonnes, it added "The overall price quoted during the auctions suggests that the market has cooled down and is below Rs 2,200 per quintal on average," the statement noted Till February-end, about 14.35 lakh tonne wheat was lifted by bidders.

Nearly 635 hectares on auction menu for investors in Uttar Pradesh

The land, equalling nearly 888 Olympic soccer stadiums, has been identified in the urban pockets for allotment to investors

Government auctions 500,000 metric tonnes of wheat for Rs 2,172 per quintal

An amount of Rs 1,086.1 crore was realised during the third e-auction.AThe fourth e-auction would be held on March 1

Govt to auction 27 more coal mines starting February 27

The coal ministry on Wednesday said that 27 coal mines would be put on sale in the next round of commercial mines auction starting from February 27. The auction process for 141 coal and lignite mines was launched by the coal ministry in November last year. "After completion of technical evaluation, 27 coal mines which received more than one bid, will be put up for forward auction from Monday, February 27, 2023 onwards," the ministry said in a statement. In a bid to familiarise bidders with the auction process, mock e-auction will be conducted on February 24. According to the statement, the ministry launched the 6th round and 2nd attempt of 5th round of commercial coal mines auctions on November 3, 2022, which received unprecedented response from industry. "96 bids were received for 36 coal mines, including participation from many first time bidders, reflecting the enthusiasm among the bidders and the positive sentiment about coal mining sector," it added.

Nirav Modi's Firestar Diamond International's jewellery e-auction on Mar 25

Gold, platinum, diamond and jewellery of Firestar Diamond International, owned by fugitive diamantaire Nirav Modi, will go under the hammer on March 25, according to a sale notice. The sale notice has been issued by Santanu T Ray, who was appointed as a liquidator of Firestar Diamond International Private Limited by the Mumbai bench of the National Company Law Tribunal (NCLT) in February 2020. The affairs of the company is managed by Ray. The sale of gold, platinum and diamond jewellery will take place through e-auction on March 25, as per the notice. The reserve price of the items to be auctioned will be declared on the date of the auction. According to the e-auction document, the inventory includes finished jewellery, loose diamonds and colour stones, semi-finished jewellery, gold, platinum and silver. The liquidator has engaged Gemmological Institute of India to determine the value of the precious items. As on the liquidation commencement date, Nirav Deepak Modi and Haresh Vr

FCI to offer 1.17 MT wheat to bulk consumers in 3rd e-auction on Feb 22

State-run Food Corporation of India (FCI) will offer 11.72 lakh tonnes of wheat to bulk consumers like flour millers during the third e-auction to be held next week, the food ministry said on Saturday. FCI plans to sell 25 lakh tonnes of wheat to bulk consumers under the Open Market Sale Scheme (OMSS) till March-end as part of the government's measure to check rise in domestic prices. In the last two weekly e-auctions, about 12.98 lakh tonnes wheat was sold, out of which 8.96 lakh tonnes has already been lifted by the bidders which has resulted in cooling down of retail prices of wheat and atta. In a statement, the food ministry said FCI will offer 11.72 lakh tonnes of wheat from 620 depots across the country during the third e-auction to be held at 11 am on February 22. Bidders, who have registered themselves on the e-portal of M-Junction by 10 pm on February 17, will be allowed to participate in the e-auction on February 22, it said. The last date for deposit and uploading of ..

WPL 2023 auction today: All you need to know about first such bidding ever

WPL Auction: A total of 409 cricketers, 246 from India and 163 from overseas, will go under the hammer at the Jio World Convention Centre in Mumbai at 2:30 PM

1,525 enter fray for 90 slots in WPL auctions, BCCI cuts number to 409

Final list has 202 capped and 199 uncapped players, and eight from associate nations

BCCI ropes in female auctioneer for Women's Premier League Player Auction

The report added that the BCCI has also informed the five teams that they have to bring in a minimum of 15 players in the squad while the minimum squad spend should be Rs 9 crore

Sebi to auction assets of Infinity Realcon, Sunheaven Agro on Mar 13

Capital markets regulator Sebi on Thursday said it will auction 9 properties belonging to four companies -- Infinity Realcon, Bharat Krishi Samriddhi Industries, Ravi Kiran Realty India and Sunheaven Agro India -- on March 13 to recover investors' money. These companies had raised funds from investors without complying with regulatory norms. The nine properties to be auctioned include land parcels and a multi-storied building, situated across West Bengal. The total reserve price of these properties is pegged at Rs 3 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 13 during 10.30 am to 12.30 pm. Of the 9 properties to go under the hammer, 4 belongs to Bharat Krishi Samriddhi Industries, 3 relate to Infinity Realcon and one each of Sunheaven Agro India and Ravi Kiran Reality India. The regulator said the bidders should make their own independent enquiries ...

Reliance Capital lenders approach NCLAT over 2nd round of auction

Reliance Capital lenders have approached the National Company Law Appellate Tribunal (NCLAT) to seek a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Vistra ITCL (India) Ltd, one of the members of the Committee of Creditors of Reliance Capital has filed an appeal before the appellate tribunal. The petition has been listed before the bench headed by Chairman Justice Ashok Bhushan for hearing on Tuesday. Earlier on February 2, the Mumbai bench of the National Company Law Tribunal (NCLT) had ruled against holding a fresh round of auction for the takeover of Anil Ambani-promoted Reliance Capital and said the challenge mechanism for financial bids has already concluded. It upheld the plea by Torrent Investments' plea challenging bankers' decision to go for the second round of auctions in pursuit of higher value for the bankrupt company. NCLT in its order said the bench allows Torrent Investment's application and decla

NCLT's final order on bankrupt Reliance Capital bid by next week

The matter is reserved for judgment and the NCLT Bench mentioned that the order will be issued next week

Espresso machines, neon logo, Macs on sale as Twitter auctions office items

The bidding will be on till 11:30 PM IST, January 18, and the prices are expected to increase till night

Apple set to enter bidding war for English Premier League streaming rights

Tech giant Apple is preparing a bid for the rights to stream the English Premier League in the UK, the media reported

No change in NPV for Reliance Capital, 'number sacrosanct': Torrent

Company goes to NCLT after Hinduja group makes post-auction offer for bankrupt financial services firm

Bihar govt initiates auction process for iron ore mines worth Rs 20,000 cr

The Bihar government has initiated a process for auctioning of glauconite and iron ore reserves worth Rs 20,000 crore in Rohtas and Jamui districts and will engage SBI Capital Markets to prepare a report for the same, an official said on Saturday. The government held a meeting with several stakeholders recently to initiate the auction process, Additional Chief Secretary-cum-Mines Commissioner Harjot Kaur Bamhrah said. The state government will shortly issue an order for engaging SBI Capital Markets as the transaction advisor and also to suggest terms and conditions based on which the auctions would be conducted, Bamhrah told PTI. The state government has asked SBI CAPS, the investment bank and project advisor, to submit a detailed report, she said. Once the report is submitted, the state government will initiate the process of granting permission to allow mining of glauconite and iron ore reserves worth Rs 20,000 crore, in Rohtas and Jamui districts on a lease basis, the mines ...

MSTC to auction 132 coal blocks; suggests bidders to read all notifications

Auction of as many as 132 coal mines will be conducted this month under the sixth tranche in states including Odisha, Jharkhand, Chhattisgarh, West Bengal among others, according to MSTC CMD Surinder Kumar Gupta. MSTC, under the Ministry of Steel, conducts e-auction of various materials and minerals and mines. This will be the sixth tranche of auction under which a total of 141 blocks, including 132 coal and nine lignite mines will be put on the block, he told PTI. The CMD clarified that MSTC only conducts auctions as per the list of coal mines and relevant notifications provided by the Coal Ministry and suggested bidders to read all bid-related notifications. "MSTC is in no way involved in any policy making process... As provided by the Coal Ministry...a National Green Tribunal (NGT) order dated 27.2.2020... has been uploaded in the auction portal. All the bidders are suggested to check all the notifications uploaded in our portal including the NGT order," he said. There are 133

Lenders begin voting to hold second auction for Reliance Capital assets

The voting was held after the National Company Law Tribunal did not stay the second auction after a petition made by Torrent

Lenders may hold another round of auction for cash-strapped RCap

Lenders meet on Monday to vote on the proposal

NARCL emerges as the top bidder for SREI twins with an NPV of Rs 5,555 cr

Submits highest net present value bid of Rs 5,555 cr; process may complete by early FY24