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This document provides notice of an online auction of secured assets under the SARFAESI Act, informing bidders of the bidding process, auction terms, and details about the property being auctioned. The auction is for the recovery of dues owed by Vishwarupa Iron and Steel Traders Private Limited, with specific details on the property, required deposits, and conditions for participation.
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How to fill out e-auction notice

01
Begin by providing the header information including the title 'E-Auction Notice'.
02
Specify the auction item details including item name, description, and specifications.
03
Clearly state the auction date and time, along with the deadline for submitting bids.
04
Include information on how to register for the auction and any required documents.
05
Provide terms and conditions for bidding, including minimum bid increments and payment methods.
06
Mention the contact information for any inquiries regarding the auction.
07
If applicable, add any legal disclaimers or regulations related to the auction process.

Who needs e-auction notice?

01
Organizations or agencies looking to sell goods or services through an auction process.
02
Vendors or suppliers interested in bidding for contracts or projects.
03
Stakeholders who need to comply with public procurement regulations.
04
Individuals or businesses wanting to purchase items offered in the e-auction.
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An e-auction notice is a formal announcement that informs potential bidders about an upcoming electronic auction, detailing the items or properties being auctioned and providing instructions on how to participate.
Entities or individuals intending to conduct an electronic auction must file an e-auction notice, typically including auctioneers, sellers, or government bodies managing the auction.
To fill out an e-auction notice, one must provide relevant details such as the auction title, description of the items being auctioned, date and time of the auction, registration process, and any specific terms and conditions applicable.
The purpose of an e-auction notice is to ensure transparency and fairness in the auction process by providing all potential bidders with the necessary information to participate effectively.
Information that must be reported on an e-auction notice includes the auction date, start and end time, location (if applicable), item descriptions, auction terms, registration instructions, and any relevant legal compliance details.
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Phoenix ARC SARFAESI Act E-auction secured assets Vishwarupa Iron and Steel Traders online bidding auction terms property sale bank auctions EMD requirements

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