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LIST OF THE ITEMS TO BE SOLD BY PUBLIC AUCTION ON

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LIST OF THE ITEMS TO BE SOLD BY PUBLIC AUCTION ON Powered By Docstoc
					Cost Rs.150/= per catalogue.                                                    Catalogue No:




                   GANDHI AUCTIONEERS PVT. LTD.
302, Bluechip, C.D. Barfiwala Rd, Andheri (W), Mumbai 400058. l 022 - 2624 3832 Email : jag@bid2buyonline.com

                                        UNDER INSTRUCTION FROM




              THE WALLACE FLOUR MILLS CO. LTD.
                            Hancock Bridge, Mazgaon, Mumbai 400 009
                                    Tel: 022- 2377 0232


                                  TENDER – CUM – eAUCTION


TENDER DUE DATE & TIME                     16th November, 2006 before 4-30 P.M.

VENUE FOR SUBMITTING                       The Wallace Flour Mills Co. Ltd.
TENDER                                     Hancock Bridge, Mazgaon, Mumbai 400009

eAUCTION DATE & TIME                       18th November, 2006 from 11 A.M.

INSPECTION OF MATERIALS                    Any Working Day by prior appointment only.
                                           Between 10 a.m. and 4 p.m.
VENUE FOR INSPECTION                       The Wallace Flour Mills Co. Ltd.
                                           Hancock Bridge, Mazgaon, Mumbai 400009

eAUCTION VENUE                             www.bid2buyonline.com

Entry Permit : For Inspection              Refundable Rs.10,000/- per person by DD/PO favouring “The
                                           Wallace Flour Mills Co. Ltd.” payable at Mumbai. Entry fees by
                                           cash/cheque will not be accepted. For details read Terms &
                                           Conditions of sale.


                              CONDITIONS FOR INSPECTION OF MATERIAL

Name of the Party :                                                                   Catalogue No._______

1. This stubbed portion would be collected by the Security Officer at the Gate of WFML.. This is just a Entry Permit
   for the inspection of material for eAuction being held on 18-11-06 for WFML.

2. Unless you are depositing a Refundable Entry Fee of Rs.10,000/- (Rupees Ten Thousand Only) per person by
   PO/DD favouring WALLACE FLOUR MILLS LTD., payable at Mumbai (CASH/CHEQUE WILL NOT BE
   ACCEPTED) you would not be permitted to inspect the material.

3. For inspection of Material, Entry Fee Receipt as well as ORIGINAL CATALOGUE must be produced at the
   Security Gate of WFML.
                           GENERAL TERMS & CONDITIONS OF AUCTION SALE
Note:        „Company' means The Wallace Flour Mills Co. Ltd., Mumbai – 400 009.
             „Auctioneer' means Gandhi Auctioneers Pvt. Ltd., Mumbai 400 058.

To BID for LOT basis. The rate of VAT or any other statutory Duty / Tax / Levy / Cess / surcharge etc.
will be applicable Extra & payable by Buyer as prevailing on date of actual physical delivery of materials.
INTENDING PURCHASERS ARE WARNED TO BE CAREFUL ABOUT POSSIBLE GAPS IN FLOORING /
GRATINGS AS WELL AS ELECTRICAL CONNECTIONS DURING INSPECTION AND ALSO WHILE THE
MACHINERY ARE BEING REMOVED BY THE SUCCESSFUL BIDDER/ TENDERER. ALL OVER THE PLANT
PIPES/MACHINE ITEMS ARE RUNNING THROUGH OUT THR MIDWAY OF THE HALL. HENCE, THEY MUST
TAKE CARE OF THEMSELVES AND WFML/GAPL WILL NOT BE RESPONSIBLE FOR ANY
INJURY/ACCIDENT/MISHAP OCCURRED DURING INSPECTION OR DELIVERY OF THE MATERIAL.

1.           ENTRY:
           Right of Admission is reserved by the Company/Auctioneers.

2.           INSPECTION:
2.1        For inspection of materials lying at The Wallace Flour Mills Co. Ltd., Mumbai please collect ENTRY PASS on
           payment of Rs.10,000/- (Refundable) by DD/PO. Cheque/Cash will not be accepted. “Entry Pass” will be
           issued by the Auctioneers from their office. On one “Entry Pass”, two persons will be allowed to inspect the
           machinery. Please Note inspection will be given ONLY ON PRODUCTION OF ORIGINAL AUCTION
           CATALOGUE at the Security Gate along with ENTRY PASS.

2.2        Please contact Mr. R. S. Jha/ Mr. Jain after collecting your Entry Pass for inspection of the material. Entry
           WILL be restricted to the premises where the material is lying.

3.           CAUTION MONEY DEPOSIT (CMD) & EARNEST MONEY DEPOSIT (EMD):
             For eAuction:-

      For participating at our e-Auction, the intending bidders shall pay refundable Caution Money Deposit
      (CMD) as under :

      a.     Rs.100,000/-     for the maximum bidding limit of Rs.10,00,000/= or
      b.     Rs.500,000/-     for the maximum bidding limit of Rs.50,00,000/= or
      c.     Rs.10,00,000/-   for the maximum bidding limit of Rs.1,00,00,000/= or
      d.     Rs.20,00,000/-   for the unlimited bidding limit.

      to the Auctioneers by DD/PO on or before 3-00 p.m. on 17.11.2006

      CMD of unsuccessful participants will be sent back immediately through courier at the address given
      by them on receipt of “ Request for Refund of CMD -Cum- Letter of Confirmation” through Fax or
      Courier as per Annexure ”B” attached herewith from the respective bidders.

      Successful participant‟s CMD will be adjusted against Earnest Money Deposit (EMD) of that particular lot.

             For Tender :-

      Tenderers will give their offers on Tender Form attached herewith with covering letter on their Letter
      head as per Annexure – “A” attached herewith. Tenderers must enclosed DD/PO of Rs.20,00,000/= OR
      amount equivalent to 10% of their offer, whichever is lower.

      All PO/DD will be in favour of “THE WALLACE FLOUR MILLS CO. LTD.” payable at Mumbai.

4.           EARNEST MONEY DEPOSIT:
      Upon acceptance of the offer – either in Tender or eAuction – successful purchaser MUST deposit further
      amount equivalent to 10% of their offer (after deducting CMD paid) within 5 working days following the date of
      declaration of result, failing which CMD paid will be forfeited by the Company without any further notice.
5.        AUCTION RESULT :
      Auction Result will be declared after the closure of the eAuction. The computer screen will display the
      successful purchasers new ID generated by computer and whether the lot has been accepted or rejected or
      accepted on „Subject to Approval‟ basis.

6.        BALANCE PAYAMENT & DELIVERY:
6.1 The balance sale value of the lot to be paid as follows:

      FOR LOT Nos: 1, 2, 5, 6, 10, 11, 12 & 14 – within 10 working days following the date of declaration of result.

      FOR LOT Nos: 3, 4, 7, 8, 9, 13, 15 and 16 – balance payment in three equal installments of 10 working days
      each following the date of declaration of result.

      Delivery:
      Delivery of the sold lots must be taken after making full balance payment with taxes/duties thereon, as follows:

      FOR LOT Nos: 1, 2, 5, 6, 10, 11, 12 & 14 – within 21 working days following the date of declaration of result.

      FOR LOT Nos: 3, 4, 7, 8, 9, 13, 15 and 16 – within 90 days following the date of declaration of result.

7.        PENALTY FOR DELAY IN COLLECTION / BALANCE PAYMENT :
        A] For delay in Balance payment:
             1. Penalty @ 1% interest per week or part thereof on balance amount to be paid for the First Week.
             2. Penalty @ 1.5 % interest per week or part thereof on balance amount to be paid for the Second
                 week.
             3. No extension of time will be given beyond two weeks.

          B] For delay in Delivery of the material:
              1. In case the purchaser fails to remove and take complete delivery of the goods sold or part thereof
                  within the scheduled time, the Seller may at its discretion extend the period by levying down
                  godown rent @ 1% of the total sale value per week or part thereof for such delayed period, subject
                  to a maximum of two weeks.
              2. No more extension will be given above two weeks.

          C] After expiry of the extension period either for Balance payment or for Delivery period as mentioned in
             A and B above, the SD/EMD/Sale Value paid by the buyers will stand forfeited to the Company
             automatically without any notice to the buyer.

8.        DESCRIPTION OF MATERIAL AND QUALITY AND QUANTITY:
8.1     The materials shall be disposed off in "AS-IS-WHERE-IS & NO COMPLAINT" basis and in "WET, DRY OR
        RUSTY" conditions.

8.2     Numbers, quantities or tonnage or nature of materials given in the catalogue are approximate and the
        materials will be sold without any regard or consideration of these numbers / tonnage or nature of materials
        and no Warranty/ Guarantee shall be implied. Purchasers must lift the entire quantity within prescribed time.

8.3     Description given in our enclosed list is in brief. Offers by the bidders will be deemed to have been made on
        the clear understanding that intending bidder / bidders have satisfied themselves fully in regard to the nature,
        condition, quality of goods upon inspection or otherwise. No error, omission or mis-statement or mis-
        description ,whatsoever and howsoever made or published whether in advertisement or list or otherwise and
        no defects or faults in the goods shall invalidate the contract or be subject matter of any claim on the part of
        the bidder whether in compensation or otherwise howsoever nor will any such claim be entertained by the
        Company.

8.4     Wherever quantity is indicated in weight in our list of items, it is only an estimate for calculating the amount of
        deposit required to be paid by the bidder, and has nothing to do with quantity of material that may be
        available. However, since the paramount interest of the Company is to get the area cleared of the
        accumulated scrap, the purchaser will have to remove the entire quantity whether these are far beyond the
        limit of approximation indicated or much less than the approximation indicated.
8.5   The Company shall be under no obligation to put the lots singly or serially or in any other particular manner
      and the company reserves the right at its discretion to withdraw any lot at any time during the auction without
      assigning any reason thereof. The Company may refuse to accept any bid from any person/persons without
      assigning any reason for such refusal. Any Conditional Offer may also be rejected by the Company.

8.6   If any non-ferrous metal is found in any of the ferrous lot while effecting delivery, the same shall be treated
      as company‟s property except where such non-ferrous metals are specifically mentioned. The purchaser
      shall not lift from the lots any such pieces containing non-ferrous metal and shall have no claim to the same
      or ask for any compensation on account thereof.

8.7   In case where the company proposes to auction any particular item or items of stores by weight or number
      and not on lot basis, announcement to that effect shall be made and indicated in the catalogue. The bid in
      such cases shall be for each number or unit of weight.

9.      REMOVAL OF MATERIALS:
9.1   It will be the successful purchaser‟s responsibility to weigh the empty truck at the Company weighbridge
      and produce the necessary weight certificate so that the weight of the empty truck will be deducted from
      the weight of the fully loaded truck.

9.2   The scrap will be weighed on the weigh-bridge/weighing scale in the presence of the purchaser or his
      authorized-representative and the weights recorded will be acceptable to both the parties. No complaint
      regarding shortage in weights and quantity will be considered once the material is removed by him or on his
      behalf from Company‟s premises.

9.3   In order to facilitate the Company to complete the transaction before 4.00 p.m. the material should be
      collected before 3.30 p.m. on any working day with prior appointment with the concerned Department within
      the stipulated delivery days.

9.4   Should the original purchaser wish to take delivery of the scrap material through a representative, he must
      authorize the latter by a letter of authority or continuing authority which shall be presented to the officer
      concerned. The officer concerned may in his entire discretion decline to act on any such authority and it shall
      be for the purchaser to satisfy the officer concerned that the authority is genuine. Delivery to such person
      shall be sole responsibility of the purchaser and no claim shall lie against the Co. on any account
      whatsoever, if delivery is offered to a wrong person.

9.5   The Company reserves the right to unload the vehicles for inspection purpose. If it is suspected at any time
      that the purchaser has loaded the material / materials for which he is not purchaser or if the purchaser is
      found to carry excess scrap than that mentioned in the documents, the company will be within its right to
      detain the truck, unload the goods at the cost & expenses of the purchaser & terminate the contract forthwith
      and forfeit the S.D. & claim such further losses and damages that may be caused to the Company.

9.6   It shall be the responsibility of the purchaser to see that he or his servants or agents collect and load only
      that quality and kind of scrap that is covered by the contract and in the event of his servants or agents finding
      any other quality of or kind or scrap mixed with the scrap allotted to him he should forthwith bring it to the
      notice of the company officer and lift scrap only after segregation.

9.7   Normally, no oxycutting / cutting of the materials will be allowed. Machines are to be unscrewed wherever
      possible. However, in case where it is found that without such facility the removal of the materials is not
      possible, such oxycutting/cutting will be considered on specific request. However, Oxycutting/Cutting is
      permitted for Pipe fittings, Structural Items, Cable/wire, Cable tray etc which cannot be removed without the
      help of such cuttings.

9.8   During the course of the removal of the material if any damage is caused to the Company's premises,
      installations or instruments, the buyer will be entirely held responsible to make good such loss. Till such
      period, the damage is repaired or compensated to the Company, no delivery of any lot/s purchased by the
      said bidder will be given.

9.9   During the course of oxycutting if any fire takes place and building or other machinery are damaged in the
      such fire, same shall be at the entire responsibility of the buyers and shall be reinstated in original condition
      or same shall be compensated by the buyers immediately. Till such period, the damage is repaired or
      compensated to the Company, no delivery of any lot/s purchased by the said bidder will be allowed.

9.10 Lots sold must be removed by the purchaser within prescribed period as mentioned in Clause 6.2 herein
     above failing penalty Clause 8 will be applicable.
9.11 Loading / Unloading will be carried out by the purchaser at his own costs. Fork lifts / Crane, if available will
     be provided to the purchaser/s at charges fixed by the Company from time to time. If company‟s fork
     lifts/cranes are not available, the purchaser/s shall have to arrange the same from outside. Non-availability of
     the fork lifts/crane/labour will not be considered as a ground for „Late-Lifting‟ of materials.

10.     DECISION IN CASE OF DISPUTES:
10.1 In case of any dispute regarding the contract, the decision of the Company shall be final and binding.

10.2 Only the appropriate Court in Mumbai will have the jurisdiction to deal with any disputes arising out of this
     contract.

11.     RIGHT OF ACCEPATANCE/ REJECTION OF OFFER:
11.1 Company reserves the right to withdraw wholly or partially any or all the items set for sale at any time during
     the period of contract without assigning any reasons.

11.2 The Auctioneer / Company also reserves the right to accept any bid on the basis of "Subject to approval" by
     the Company. In case the bid is accepted on "Subject to approval" basis, the Company's final decision will
     be informed to the purchaser within a week.

11.3 The Company is not bound to accept the highest offer, also the Company reserves the right to reject any
     CONDITIONAL offers.

11.4 The goods are sold subject to the reserve price fixed by the Company. If there is any dispute as to the last or
     highest bid, the goods shall be put up for the sale again at the last undisputed bid and resold or the disputes
     will be determined by the company and their decision shall be final and binding upon all.

13.     FORFEITURE OF EMD/SD/SALE VALUE:
13.1 In case the buyer is awarded more than one item and if the buyer fails to lift any one of the items from the
     lots awarded to him/them, the Company reserves the right to forfeit entire EMD/SD/Sale Value amount paid
     against all the items awarded to buyer.

13.2 In case of failure to comply with the conditions at Clause No.6 and 8, the Company may at its discretion,
     terminate the contract and forfeit the Security Deposit/Purchase Price, as the case may be, and sell the
     materials to any other buyer at defaulting buyer‟s risk and recover the deficit if any, from the defaulting buyer.

14.     TERMINATION OF CONTRACT:
      The Company reserves the right to terminate the contract at any time by giving three days notice on the
      following ground.

14.1 Unsatisfactory execution or performance of the contract by the purchaser.

14.2 For improper behaviour of the purchaser or breach of the terms and conditions of the contract.

14.3 Decision of the Company to terminate the contract shall be final and binding and no claim for damages and
     compensation shall lie. Provided always that in the event of the purchaser or his agent or servant committing
     or attempting to commit theft, fraud, dishonesty or gross misbehaviour in connection with the subject matter
     of this contract or in any other -connection whatsoever concerning the business of the company, the
     Company will be entitled to terminate the contract - forthwith and forfeit the Security Deposit at its sole
     discretion.

15. PASSING OF PROPERTY IN THE GOODS:
15.1 It is expressly made clear that the property in the goods whether sold by units, weights or lots, whether
     arranged or otherwise, will remain that of the Company and will pass on to the purchaser only when material
     is taken out by the Purchaser from the factory Premises after getting valid dispatch documents.

16.     GENERAL:
16.1 VAT or any other taxes applicable under the Maharashtra Sales Tax Act will be charged extra at the rate
     prevailing at the time of delivery and the rate offered shall be exclusive of all taxes. Excise duty, if applicable,
     will be charged extra at rates prevailing at the time collection. TCS will be charged extra as applicable.
16.2 All trucks, handcarts, carrying such materials outside company‟s premises are subject to inspection by
     company‟s Security Dept. at the gate. If required, the buyer will have to unload the vehicle if Security Officer
     requests a surprise check.

16.3 Any person employed or engaged by the buyer for the purpose of the execution of the contract shall be
     required to observe the rules and regulations that are prevailing in the Company. The movement of his
     persons shall be restricted only to the place of work assigned to them. Each person engaged by the buyer
     shall be required to obtain a Pass from the Security Department for entering and leaving our Factory
     premises. All the labour engaged by the buyer shall be subjected to inspection by the company‟s Security
     Dept.

16.4 All notices, letters sent to the purchaser shall be deemed to have been received by him/them on expiry of 24
     hours from the time of posting if the same are sent at the address given by the purchaser.

16.5 If any person/s bid at the auction on behalf of the undisclosed principal, he / they shall immediately after the
     bid at the time of payment of EMD, disclose the name of his / their principal who is the actual purchaser and
     the receipt for the caution money and/or earnest money would be issued in the name of the principal.

16.6 Resale will not be recognized and release order will be made out in the name of actual successful
     purchasers only.

16.7 The purchaser shall not be entitled to resell any lot or part of a lot while the goods are still lying within the
     premises of the Company and no delivery would be effected by the Company to any person other than the
     purchaser whose names are mentioned in the delivery order.

16.8 All purchasers of the lots before collecting purchased materials from inside the works should contact the
     Company's authorised officer to get themselves fully acquainted with safety rules and regulations.
     Purchasers will be allowed to start collecting materials only when they have confirmed in writing that they are
     agreeable to follow the various safety rules and plant regulations. Workers employed for dismantling job
     should be covered under ESI & P.F. Act for the period working in The Wallace Flour Mills Co. Ltd. Premises.

16.9 The Company will in no way be responsible for any accident, damage or injury to the contractor's workmen
     or equipment while on factory premises.

16.10 If the successful purchaser at any stage either neglects or refuses or is unable to take delivery of the
      materials for any reasons whatsoever or the performance of the purchaser is unsatisfactory, the Company
      will have the right to terminate the contract, forfeit his EMD/security deposit and claim such further losses
      and damages that may be caused to the Company to determine and declare at its sole discretion.

16.11 In the event of the purchaser failing to remove the materials and to pay price thereof, the Company shall be
      free to sell the goods to any person or persons and to recover from the original purchaser the amount by
      which the price at which the scrap material is actually sold, falls short of the price agreed by the original
      purchaser. This does not in any way effect the right of the Company to forfeit EMD as provided herein.

16.12 Any dispute relating to the sale shall be decided by the Co.‟s representative duly authorized to take such
      decisions on behalf of the Co. The decision so taken shall be final and binding on all persons.

16.13 The successful purchaser is also required to sign an agreement to complete the sale according to the
      conditions hereof and subscribe his signature to the Bid-sheet against the lot or lots knocked down to him. In
      the event of the purchaser failing to sign the agreement or Bid-sheet, the goods may, if the Auctioneers /
      Company think fit, be put up for sale again immediately and resold on account and at the risk of the
      defaulting purchaser who shall be responsible for any deficit, but he shall not be entitled to any increase
      arising from such resale.

16.14 Additional Conditions of sale or Additional Conditions of sale, if any, will be announced at the time of auction.
INSTRUCTIONS TO THE e-AUCTION PARTICIPANTS

1. For bidding at our Live-Auction Online, the intending participants are requested to log on to our web site
   www.bid2buyonline.com and read the instructions & procedure explained at “ HOW TO BID “ thoroughly.
   For any further clarification/queries, please contact us on Telefax: (022) 2624 3832 or send email at :
   jag@bid2buyonline.com

2. ONLY Registered Participants are allowed to participate and bid at our Live-Auction Online. To become
   Registered Participant, you are required to fill-up the Form available on our said website. Those who have
   already registered need not fill the registration form again. Please read this instructions carefully first
   before filling –up the form by selecting your choices.

    Tenderers are at the liberty to participate at the eAuction also PROVIDED they have paid separate CMD to
    participate at the eAuction. . For this purpose they have to get themselves register on our website as
    mentioned hereinabove to enable us to activate their Login.

3. All those who have registered online and wish to participate in the e-Auction, should send their Caution
   Money Deposit (CMD) as mentioned above by PO/DD favoring “THE WALLACE FLOUR MILLS CO.
   LTD.”.payable at MUMBAI on or before 3-00 p.m. of 17.11.2006 to us (Auctioneers). Please do not
   mention your Password in your letter. CMD received after 3-00 P.M. of 17.11.2006 for becoming
   Registered Participants may be rejected and such bidders will not be allowed to participate at the e-Auction
   and their DD will be returned to them through Courier at their risks. However, final decision of accepting or
   rejecting the CMD rest with the Auctioneers and their decision will be treated as final. Hence, in your own
   interest, you are requested to complete all the formalities to become Registered Participant in advance and
   well in time. The Auctioneers / Seller are not liable for the delay or late receipt of DD whether sent through
   Courier or Post.

4. On receipt of your CMD, your login ID/ Password, as registered by you on our website, will be activated by
   us.

5. Please do not reveal / pass your User ID and Password to any other person/s. It is your personal property
   and we will not be responsible for any leakage or misuse or illegal use of your User ID and Password.
   Nevertheless, you will be held personally liable to the Seller and the Auctioneers for any misuse or illegal
   use of your User ID and password by other person/s and any successful transaction online by such
   unauthorized person due to your negligence will be considered as your own transaction and you will be
   required to fulfill the contract as per terms and conditions of the sale.

6. For entering into “ Auction Room” for bidding at our Live-Auction Online, you will have to first enter the
   User ID and password as submitted by you in your online registration form. The computer will match your
   entry and if correct and CMD has been paid, then generate its own new BIDDER - ID for you (valid for that
   auction sale no. only). On the menu bar you will see FOUR new buttons – Demo/Edit Profile/ Live Auction /
   Logout. Click on Live Auction button. The computer will show you list of all auctions being conducted on
   the day for which you have paid CMD. Click on the bid now button against the auction you wish to
   participate in. The computer generated Bidder-ID will be displayed on your monitor screen only. Please do
   not enter this ID any where at any point of time, only note it down in your diary for your reference.
   However, for each different Auction Sale No:, a new ID will be generated by the computer.

7. After you finish or wish to leave the auction room, please click the logout button appearing on your monitor
   screen. If you fail to do so, you will not be able to enter the auction room again for approx. 1 hour. In case
   you have forgotten to do the above and wish to enter the auction room again, contact our technical team at
   (022) 65270418 / 24222267. Please specify your user name, password and your new ID for the Auction
   Sale No. so they can verify and allow you access.

8. Once you login, you cannot use the same username and password to login from another machine before
   logging out from the previous one.
                                                    =2=

9. For your perusal, a Demo e-Auction is available on our website www.bid2buyonline.com for all Registered
   Participants to practice and get acquainted with the system. Free training for participants at the eAuction
   can be arranged by the Auctioneers by prior appointment on (022) 26243832.

10.     Only bidders who have paid CMD will be given free training by the Auctioneers at our Mumbai Office, if
      needed. Free Training will be given only by Appointment up to 16-11-2006 only.

11.     The auto extension feature gives equal opportunity to all bidders to place their bids in the closing
      minutes of the auction. Hence bidders are requested to stay tuned to the end of the auction even after the
      auction closing time in case the auction gets extended due to auto extension till the bidding screen closes.
      IF THE LAST BID RECEIVED IS A PROXY-BID, LOT TIME WILL NOT BE EXTENDED BY 3 MINUTES
      AS IT HAPPENS WITH MANUAL BIDDING, WHICH MAY BE NOTED. HENCE, PLEASE DO NOT WAIT
      TILL LAST FEW SECONDS, BUT ENTER YOUR BID AT LEAST 1 MINUTE BEFORE END TIME.


12. Please Note each Registered Participants shall pay refundable Caution Money Deposit (CMD) to
    participate and bid at our Live-Auction Online. The Participant at our Live-Auction will be allowed to bid
    only after they have paid CMD in advance to us by DD as mentioned in the General Conditions of sale.


13. Please Note the DD against CMD must be received by us in advance as no CMD will be accepted on the
    day of Live-Auction. Any DD received on the day of Live-Auction or thereafter, will be returned back
    through Courier. The Auctioneers / Seller are not liable for the delay or late receipt of DD whether sent
    through Courier or Post.


14. Caution Money Deposit of unsuccessful participants or balance CMD will be returned to them through
    Courier within two working days following the date of e-Auction Sale after receiving Annexure “B” duly filled
    by fax/ courier.


15. Excise Duty and Sales Tax will be leviable on lots as mentioned in the catalogue. Though, for the guidance
    of the bidders rates are mentioned, rates will be applicable as prevailing at the time of lifting of the material.


16. Learn how to bid at www.buyonline.com by following easy steps as explained on our said website. In case
    of any difficulty, please contact us for practical training by prior appointment only. Practical training will be
    given only to those participants who have paid CMD for participating at eAuction.


17. CMD/EMD/SD will carry no interest.
PROXY BIDDING
Introduction to Proxy Bidding on www.bid2buyonline.com

What is a Proxy Bid?
A proxy bid represents the highest amount you are willing to bid for a particular lot. Once you enter a proxy bid, the e-
Auction system will bid for you up to that amount, increasing your bid by the minimum incremental bid value until you have
been out bided by another bidder. You could also win the lot for a price less than the proxy bid you entered.
Why submit a proxy bid?
       Proxy bids save you time because you don't have to watch the auction - the computer bids for you.
       Proxy bids make sure that your bids are recognized, just in case you have to leave your desk, or something
        happens to your Internet connection during the auction.
       Proxy bids are especially useful when you are bidding on many lots that are closing within minutes of each other.
        They will make sure that you don't miss out on lots just because you are bidding on another lot.
How does the Proxy Bid work?
      1. When you place a proxy bid, you enter the maximum amount you'd be willing to pay for the item. Your maximum
         amount is kept confidential from other bidders and the seller.
      2. Our E-auction system compares your bid to those of the other bidders.
      3. The system places bids on your behalf, using only as much of your bid as is necessary to maintain your high bid
         position i.e. Current highest bid plus Min Incremental value. The system will bid up to your maximum amount.
      4. If another bidder has a higher maximum, you'll be out bided. BUT, if no other bidder has a higher maximum, you win
         the item. And you could pay significantly less than your maximum price! This means you don't have to keep coming
         back to re-bid every time another bid is placed.
Proxy bidding on www.bid2buyonline.com
      1. Valid bidders i.e. Participants who have paid CMD only can use Proxy Bidding.
      2. Bidders will have to login as they do to participate in live auction to enter their proxy bids.
      3. After logging in click on auction calendar. Against the auction for which you have paid the requisite CMD, in the last
          column, Click to View, you will see a link Proxy Bid
      4. Bidders will be allowed to enter their proxy bid one day prior to start of auction and after start of auction for lots they
          have paid CMD for.
      5. On clicking on the link Proxy Bid, you will come to page similar to auction room page, listing the auction lots.
      6. Click on the radio button against the lot no. for which you wish to enter a proxy bid and enter your best bid in the
          price box and click on submit.
      7. Bidders can enter proxy bids for as many lots as they wish, one lot at a time. You will see all lots for which you are
          allowed to bid like in live auction
      8. The system will accept valid bids only i.e. Bid has to be more then starting bid + incremental value, and multiplier of
          incremental value.
      9. Your proxy bid x lot qty will be reduced from their bidding limit i.e. if CMD paid is Rs. 100000 x 10 and their bidding
          limit is Rs. 10,00,000. So for lot no 5 which has MS scrap 10 M.T @ Rs. 5000 as starting bid, if you enter a proxy bid
          of Rs. 10000, then 10000 x 10 = Rs.1,00,000 will deducted from your bidding limit till the time the lot is on or you
          are not out bided. Your available bidding limit will be Rs. 9,00,000
      10. To know if you have been outbid by an existing proxy bid please check the value being displayed under the Your
          Bid column on your screen – it will not show your last proxy bid value if there is an higher or same value proxy bid
          already logged with the system.
          For E.g. If you enter a proxy bid of Rs. 5000 and there is an existing proxy bid of Rs.25,000 – the Current highest bid
          value will show 5001 and Your Bid column will show ZERO (in case it is your first bid in the lot) or your last
          manual bid, indicating you have been outbid by an existing proxy bid. Same will be the case even if there is
          a same value proxy bid.
      11. Bidders must have enough available bidding limit to enter multiple proxy bids
      12. On start of auction – when they click on proxy button they will see list of lots and bids entered by them
      13. Proxy bids once entered cannot be removed or reduced.
      14. Bidders can revise i.e. increase their proxy bid value anytime after regular bidding has started till bidding for the
          lot is not over.
      15. Prior to start of regular bidding (live auction) for the lot if Bidders will be allowed to enter ONLY ONE Proxy Bid
      16. If two bidders enter proxy bid of same value for a particular lot – the first valid bid will be treated as highest
      17. In case more than one proxy bid is received for a particular lot before start of auction, then the second highest proxy
          bid plus Min Inc value will bid by the system on behalf of the highest proxy bidder
      18. In case the system gets a manual bid of the same value as that of an existing proxy
          bid, preference will be given to proxy bidder on basis of time.
      19. When a bidder OUT BIDED is in Proxy Bidding, the system will send him an email informing him of the same

A WORD OF CAUTION:
All proxy bidders are requested to keep a watch on the pattern of bidding as well as keep a check on their emails, as they
may be out bided during the live-auction by another bidder. In such a case, if the proxy bidder wants to bid further at the live-
auction (provided he has bidding limit available), he should enter the live auction room and start bidding manually.
                                   ANNEXURE – “A”
        (on your letterhead with company seal and stamp with contact details)


                                                                     From:




Date:


The Wallace Flour Mill Co. Ltd.,
Hancock Bridge,
Mazagon, Dockyard Station,
Mumbai – 400 058


Dear Sir,


Sub:    Tender for the purchase of flour mill equipment and other scrap due on 16-11-06 by 4-30 p.m.



We are submitting our tender for the purchase of flour mill equipment and other scrap on “As is
where is” basis due on 16-11-2006 before 4-30 p.m. subject to the terms and conditions as
mentioned in the catalogue.


We hereby agree and accept the said terms and conditions of the sale.


We have also attached our Tender Deposit of Rs. ____________ with the sealed tender.


Thanking you.


Yours truly,




Encl: Sealed Tender with Tender Deposit.
                                  ANNEXURE – “B”
       (on your letterhead with company seal and stamp with contact details)

                        Request for Refund of CMD-Cum-Letter of Confirmation

                                                                   From:




Date:
Gandhi Auctioneers Pvt. Ltd.
302, Bluechip,
C.D.Barfiwala Road, Andheri (W),
Mumbai – 400 058


Dear Sir,


Sub:   Confirmation of bidding at the eAuction Sale held on 18-11-2006 on behalf of The Wallace Flour
       Mills Co. Ltd., Mumbai


We hereby confirm that we bidded at the above eAuction held by you and our highest bid for the
lot/s was rejected / we were out bidded by others and we are not the highest bidder in any lot.


You are requested to refund the CMD as we are not the H1 Bidder/ We hereby confirm that we
are the H1 bidder for Lot No/s:_______________________________________ .


Thanking you.


Yours truly,


________________
(SIGNATURE)

				
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