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					                                                                                      (Auction No.         ) On Behalf of
                                                                            M/s Sterlite Technologies Ltd.
                                        Survey No. 99, Rakholi Village, Madhuban Dam Road,Silvassa - 396230, UT Of Dadra & Nagar Haveli
                                                                     Auction by Salasar Core Solution Pvt Ltd
                                                     will administer the sale of Arising Srcap, on an "As Is Where Is" basis no segregation is allowed
                                                                                       Auction will be on the Internet
                                                                                    Online Auction on 03.08.2011
Points to Note for Online Auctionable Material:
           It is mandatory that the bidder has to participate in all the lots in a group. Upon competition of the auction, contract allocation would be to single or more bidders for all groups
           decided by Sterlite Technologies Ltd. on the basis of:
           a. Total value considering projected quantities and online bidded rates of all lots, submitted by each buyer hence the rates submitted by each bidder will stand valid irrespective of
    1      ranks
           b. New buyers to submit references of lifting of similiar material.
           c. Buyer for Capacity to lift, Past performance and confidence appraisal.
           d. Three groups will be independently valued as per above and allocated to buyers.
    2      Bidders should possess State Pollution control certificate such as MPCB / GPCB for participation or proof of sale to such approved parties
           All bidders are requested to submit their best offers in the Prebids before the auction begins, and make use of the autobid facility provided. Read carefully the dos' & donts' and procedure for
    3
           online bidding before the auction starts.
    4      If a bid is placed in the last 2 minutes time will be extended by 2 minutes. If no bidding is done in last 2 minutes, auction will close at the highest bid and result will be declared immediately. If and
           when Reserve price is met during bidding, the message will be flashed and auction will continue.

           Bidding is on UOM Basis .Taxes and Duties applicable will be charged extra on the bidded rates. Excise Duty 10%.Education Cess 3% on Excise Duty & Central Sales Tax 2% on all
    5
           items against Form 'C' ( Subject to Notification ).
           10.5% payment will be hold in case of absence of Form 'C'.
    6      Contract Validity Period: Auction will be conducted for contract period from 1st August 2011 to 31 December 2011.
    7      Price Variation Clause : For Aluminium dross, for purpose of price variation , price of EC ingots(99.7% purified ) of NALCO (IE07) shall be considered.
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           All bidders are requested to refer to the final catalog before bidding available on the internet site (www.indiaengineering.com) before the auction. The quantity mentioned here below are
           approximate monthly qty based on Average annual quantities. Sterlite Technologies Ltd. is likely to generate more or less quantities depending upon their production activities.

Inspection and Contact Particulars :
                M/s Sterlite Technologies Ltd. ,
Address:
                Rakholi,Silvassa
Contact         Mr.Shailesh Abhang
Tel no .        0260-6612200/6612234/ Fax: 6612260
Email           shailesh.abhang@sterlite.com
                Miss. Prerna Vasu –
For Tanmay      Mobile No: 09320589231/09320445534
enterprises     Phone – 022- 2566 0141
                Mail ID: scs@salasarauction.com
Inspection      STRICTLY WITH PRIOR APPOINTMENT between: 11.00 AM to 1.00 PM and 2.00 PM to 4.00 PM




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              Payment Terms :
     1        For Auction - Refundable Bidder's deposit (CMD)for Aluminium dross Rs.1,00,000/- and for Burnt dross Rs. 25,000/- for participation in all lots to be paid in form of DD in the name
              of “Sterlite Technologies Ltd.”,Payable at Silvassa drawn on any Nationalised / Major private sector banks( no co operative banks), while submitting the Offer in the Prebid Form. The
              refund will be given to the winning bidder upon full payment of his Security Deposit. Winning Bidders and second highest Bidders Deposit shall be returned without interest after full
              payment of Security Deposit by the winning bidders (Refunds will be initiated against application in writing for request to refund in original on their letterheads). Seller will give the
              approval of the rates achieved in the auction within 15 days. So refund of bidders deposit will be given within 15 days working days.
              In case reserve price is not met, the bid will be treated "Subject to Approval" and highest bidder will be intimated / informed about the sellers decision within 10 working days of the auction. If the
     2        bidder to whom the material has been offered fails to pay within 48 hours after sellers decision his Bidders deposit will be forfeited and the bidder will not be allowed to participate in future
              auctions.
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              Winning bidder to arrange Security Deposit(EMD) Rs 5,00,000 for Aluminium dross and Rs.1,00,000 for burnt dross in favour of "Sterlite Technologies Ltd." payable at Silvassa.
              Security Deposits shall be refunded after the completion of contract free of any interest.
     4        Winning buyers are required to lift the scrap against full Payments (inclusive of taxes and duties applicable) in advance before Wednesday of every week by DD drawn on nationalised/ major
              Pvt. sector banks ( no cooperative banks) or by Fund Transfer till the contract is over on a regular basis. You will visit and monitor for lifting the scrap as per schedule without fail. The Seller shall
              be entitled to hold back the material if full payment is not received."
              In case the winning buyer does not make payment of security deposit within 48 hours then the Bidder Deposit of the winning buyer would stand forfeited. In such a case the seller may offer the
     5
              contract to the 2nd highest bidder.
              During the contract period if there is any delay in making of any of the payments or lifting of material within the prescribed time frame will render the Buyer liable to forfeit the payments made and
     6
              seller is free to offer the contract to any other buyer.
     7        STL reserves the right to terminate the contract and / stop the supplies of the Scrap at any time during the Contract Period, if STL wishes to use the scrap for their own purpose.

     8        All payments for lifting to be handed over to Sterlite Technologies Ltd.Survay no.99, Madhuban Dam Road, Rakholi, Silvassa -396 230 at least a day in advance
              General Terms and Conditions
1.       INSPECTION / EXAMINATION OF MATERIAL AT SITE:
              A.     The material shall be sold on “AS IS WHERE IS’ basis. No complaints whatsoever will be entertained after the bid is made. The bidder is deemed to have inspected, examined reasonably
              and satisfied himself as to all matters regarding condition, quality and type of the material. No question or claim whatsoever in this respect shall be entertained after submission of the bid. The
              seller will not be in any manner responsible for any damage/deterioration of the material, if the salable material is kept in the “Loading / Unloading” in open space. The Seller shall not be in any
              manner liable whatsoever for the performance of the material.
            B.     The number, quantity or tonnage, nature of material and time of auction etc., given in the catalogue or auction bidding screen are only indicative approximate quantities. The material will be
            sold on prorata basis without any regard or consideration to this and no warrantee shall be implied.
            C.    Sterlite Technologies Ltd. / Salsar Core Solution pvt. ltd. shall be under no obligation to put up the lots singly or serially or in any particular manner and they reserve the right to withdraw any
            lots at any time during the period of auction without assigning any reason thereof. Sterlite Technologies Ltd. / Salasar Core Solution Pvt Ltd. may refuse to accept any bid from any person
            /persons without assigning any reason for such refusal.
            D.      In case the contractor fails to lift promptly the Arising Scrap, then the contract & material will be sold to any other party and difference will be recovered from the contractor and / or Security
            Deposit will be forfeited and contract will stand terminated.
2.       TAXES AND DUTIES.
            A.      Taxes and Duties applicable will be extra on bidded rates, TCS shall be extra as applicable
            B.     The winning bidder will be liable to provide forms as applicable for concessional Sales Tax while lifting the materia l( e.g. form C ). Failing which the seller shall charge Full Sales Tax as per
            prevailing rates. Form C should be provided in advance before lifting.

              C.   All Taxes like Sale Tax, Terminal Tax,TCS and any other taxes, duties (imposed) whether payable to the Central Government or to the State Government or to the Municipal, Local or other
              authorities shall be deposited by the buyer with the Seller along with the purchase money as part of the final payment.
              D.    The buyer should furnish copies of his Sales Tax Registration Certificate,PAN.




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3.   DELIVERY OF MATERIAL:
         A.     The buyer will make his own arrangement for sorting lifting and transportation of material from the seller's premises. However, the seller will only guide in loading and weighing (if on weight
         basis) of material. Buyer will not be entitled to claim any further facility or assistance in this regard. The material sold on weight basis will be weighed on seller's or authorized weighbridge in the
         presence of seller's representative. The weights recorded on the weighbridge will be final and binding on both parties. No complaints as regards the shortage in the weight will be entertained
         later.

          B.    The buyer is not entitled to choose or pick any particular material from the lot. He has to lift the entire material as available in the lot and as per the directions of the seller's representative.

          C.     The buyer is not allowed to lift any material other than the material described in the Lot even if such material is found in the storage yard at the time of taking delivery. The material other than
          described in the lot but found at the site belongs to the seller should not be lifted. In case, any successful buyer is found collecting material belonging to the seller willfully, severe action may be
          instituted against such buyer by the seller. This may include even lodging of Police Complaint.
          D.     The material delivery will be effected during working hours only between 9:30am to 4:00pm (except holidays and Weekly off STL - Sunday ) and with appointment confirmation from the
          Seller.
          E.     Re-Sale will not be recognized and Release Order will be made out in the name of actual Successful Bidder only. However incase the winning bidder wants the material to be lifted by his
          sister company for any reason, he may do so by giving prior intimation in writing immediately after the declaration of winning results and before any advances / payments are made to the seller.
        F.Lifting Rules:
        a). It will be the responsibility of the buyer to have a continuous monitioring of the material arising and to lift it from time to time and ensure area is cleared. The material will be kept in the open
        yard and seller will not be responsible for the damages to the materials if any due to weather conditions.
        c) Buyer to ensure that when vechile is placed all lots material are removed from the premises and area is cleared
        d) Material to be lifted only on Thursday , Friday and Saturday
4.   FORFEITURE / PENALTY:
        A.      SECURITY PAYMENT: In case of delay in making the payment penalty at the rate of 0.2% per day (prorata) of the material value will be charged. On further delay beyond 1 week (plus
        extension granted if any by the seller in special cases), the bidders deposit will stand forfeited. In such a case the bidder will be declared as backed out and the opportunity of purchase given to
        any other buyer.
          B.   100% PAYMENT & LIFTING OF MATERIAL: Absolutely necessary to put a vehicle as per schedule ,failing which Rs 2,000/- ground rent per day will be charged for a period of four days
          beyond which the lot will forfeited with deposit .The company is free to claim such further losses , damages caused by the bidder for failure to lift the material
5.   FORCE MAJEURE CLAUSE
          Seller shall not be liable for non-performance of any contract either wholly or in part nor for any delay in performance resulting due to cases beyond seller’s control including fire, strikes, lock-out,
          closure, dispute with workmen, uncertain and unstable labor situation, war, riots, civil commotion, pestilence, epidemic, floods, accidents, damage or requirements of Government force or any
          circumstances. Should seller so determine shall be entitled at any time without notice to the buyer to cancel any contract the performance of which is likely to be delayed by any of the cause
          aforesaid and in such cases, the buyer shall have no claim upon the seller of any kind, The provision of this paragraph shall not be limited or abrogated by any other terms of the contract whether
          printed or written nor will be provision of this clause abrogate or limit the effect of any other clause mentioned in these terms and conditions.

          In case any buyer purchases a lot and after making full or part payment removes part of the Lot and fails to remove the balance lot then, after the stipulated time is over (including the extension
          granted if any), the lot will be treated as abandoned and whatsoever money is paid for the lot will be forfeited along with the Down Payment etc. and the balance lot will be disposed off by
          company as it deems fit.
6.   GENERAL
          A.     The highest auction bid, if not meeting the reserve price, will be 'subject to the approval'. The auction administrator of Salsar and the seller will supervise together the auction sale and
          reserve the right to accept or reject such highest bid without declaring any reasons whatsoever. Such decision will be given to the highest bidder within ther period mentioned in the above
          payment terms. The Seller and Salsar reserves the right at its discretion to withdraw any lot prior to commencement of auction without assigning any reasons thereof. The auctioneer may even
          refuse to accept any bid from any person, at any time without assigning any reasons for such refusal.
          B.     Successful execution of the contract will mean regular clearance of the lot sold from specified location and payment of complete transaction money inclusive of Duties, levies and taxes
          within specified time frame.
          C.    Buyers are warned that any attempt to misuse Gate Pass, Challan authorizing delivery, the decision of the seller regarding satisfactory performance or otherwise will be final and binding on
          the buyers and such lots in question shall be resold by the seller without any further reference to the buyers.




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7.     ABIDANCE BY COMPANY’S RULES AND REGULATIONS REGARDING SAFETY AND DISCIPLINE
           The buyer, their servants and agents shall be required to abide by all specific generals regulations of safety and discipline within the seller’s premises. The material will be handled
           by the buyer, their servants/agents at their own risk and any loss/damage whatsoever to any individual or property in such handling or as a consequence thereof shall be the sole
           responsibility of the buyer.
8.     ARBITRATION AND JURISDICTION
           All disputes and difference arising out of this auction shall be referred to the sole arbitration of seller or his nominee and the award of such arbitrator shall be binding on both the parties. The
           contract shall be subject to the jurisdiction of Pune Courts only.

                                                                                 Online Auction For Rakholi, Silvassa Plant
                                                                                  Material List for Auction on 03.08.2011

                                                                             Total Approx
                                              Pollution                                      Monthly       Opening
                                                                             Qty / 5 Months
     LOT NO.       ITEM DESCRIPTION            Control       LOCATION                        Qty MT         stock       Lifting Requirements      Excise CST %       TCS      Start Time         End Time
                                                                                   (MT)
                                             Certification                                  (Approx)         MT

                                                                                                                         Opening Stock to be
                                                                                                                       Cleared within 10 to 15
                                                                                                                        days from the date of
                                                                                                                       Confirmation & arising
        1            Aluminium Dross       PCC Mandatory         Silvassa          300            50           50       material to be cleared  10.00%       2%      1%
                                                                                                                          within 8 days from
                                                                                                                        intimation from STL.
                                                                                                                      Every Thrusday , Friday &
                                                                                                                               Saturday
                                                                                                                         Opening Stock to be
                                                                                                                       Cleared within 10 to 15
                                                                                                                        days from the date of
                                                                                                                       Confirmation & arising
        2         Aluminium Burnt Dross PCC Mandatory            Silvassa           20             4                    material to be cleared  10.00%       2%      1%
                                                                                                                          within 8 days from
                                                                                                                        intimation from STL.
                                                                                                                      Every Thrusday , Friday &
                                                                                                                               Saturday




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                                                                                   Bidder Agreement (Auction No )
                                                                  This Agreement is signed on __________ (“Effective Date”) by and between :
                                                                                         Salsar Core Solution Pvt Ltd.

                                                                                              AND
                                 ____________________________________ (Hereafter referred to as “Bidder”)

The “Bidder” and "STL" shall be known individually as “Party” and collectively as “Parties.”

Purpose:
The purpose of this agreement is to confirm that the “bidder” is authorized to bid on the Auction being conducted by STL’s indiaengineering marketplace for saleable material of "Seller": M/s Sterlite
Technologies Ltd.. (Hereafter referred to as " STL")

For this purpose the parties confirm the following:

1.   The bidder has read and understood the on-line auction catalog for the same on www.indiaengineering.com, Points to Note, Inspection and Contact Particulars, Commercial Terms, General Terms and
Conditions, detailing of the material to be auctioned, the lotting, the basis of bidding, the bidding procedure.

2.    All the information pertaining to weights, condition etc, which has been mentioned in the Auction Catalog by STL, is to the best of its knowledge to facilitate the bidding. The bidding basis is as
mentioned in the Catalog and for the items are on an “as is where is” and "no complaints" basis. The Bidder is deemed to have inspected and satisfied himself about the Quality, quantity and location of the
items being auctioned.


3.   The bidder has paid the refundable / revolving bidder deposit of Rs. _________ towards activation of the login ID and password to enable bidding. The payment details are as under:
DD no. ____________ dated____________ drawn on bank______________________ payable to ‘Sterlite Technologies Ltd.’ payable at Silvassa. (The bidder deposits will carry no interest on it.)


4.    The buyer agrees to accept the Login ID and Password issued to him 1 hour prior to the auction. And that he has read and understood the bidding process on the www.indiaengineering.com platform.
And that it would be his responsibility incase he doesnot prefer to change the password upon receipt.

5.   On winning the lot in the auction, the winning bidder (H1) confirms that the downpayment, as defined in the auction catalog will be made by the bidder within 48 hours of confirmation of winning, by
bank Demand draft in favor of 'Sterlite Technologies Ltd. ',Payable at Pune.

6.    The bidder Authorizes STL to confiscate the bidder deposit in case the downpayment is not made as defined. STL reserves the right to offer the lot in this case to the next highest bidder . Bidder
agrees to honor his bids, if offered the material, for a period of 15 days after the declaration of results. Failure to do so will entail forfeiture of the bidder's deposit.


7.    Bidder agrees to compensate to STL / STL the loss in transactions it may suffer incase of backout / non performance by the bidder to the terms and conditions of this agreement.
8.    The bidder confirms compliance to the procedure of the balance payment to be made to Seller as defined in the auction catalog terms and conditions.




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9.    The bidder hereby confirms that the refund of the deposit should be made in the name of the company as mentioned above.

10.    The bidding amount against the Login ID allocated to the bidder is captured accurately in the software system during the bidding process. The record of each bid is maintained by STL. In event of any
doubts arising after the Auction event, the software record shall be treated as final.

11. The bidder is hereby legally bound to have accepted the price as per the bid in the software record maintained by STL. If approached by STL as the winning bidder, the bidder shall honor the down
payment procedure.

12. STL shall not be responsible for any loss of bidding opportunity to the bidder on account of infrastructure, hardware, internet speed, local ISP services or power problems at the bidder end. However,
STL encourages the bidder to immediately get in touch with the nearest market maker of STL and report the problem, during the bidding, to request for a time extension or other help.


13. STL shall flash important messages during the Auction in the bidding screen. The Bidder is responsible for seeing and understanding the messages. The bidder for any clarifications can seek STL
market-maker’s help on the same. The auction messages are deemed to be a part of the catalog.


14. STL reserves the right to alter and inform the contents of the Catalog before the start of the Auction. The Catalog posted on www.indiaengineering.com, during the Auction Period would be treated as
the final one. The bidder shall be responsible for checking the catalog for any updates as might arise prior to the start of the Auction.
15. The Bidder shall be bidding on the basis of the commercial terms as mentioned in the Auction Catalog.

16. The bidder understands the rights of bidding for this Auction is reserved in case of observed irregularities which can affect the bidding process, the bidder will be disabled. STL shall have final authority
in this matter.

17. The bidder has received and accepted the conditions given in the catalogue, issued upon signing up this Agreement.

18. It is mutually understood and agreed that the laws of the Union of India shall govern this Agreement, without reference to its conflicts of law provisions. The courts in Pune shall have exclusive
jurisdiction relating to any proceedings arising out of this agreement.

Agreed to by,
Salsar Core Solution Pvt. Ltd

                                                                                                         User Name _____________________

                                                                                                               Date: _____________________

                                                                     Contact telephone / mobile no. during bidding: _____________________
Signature
                                                                                                                                                                                       Signature & Seal




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