Auction

Haryana Chief Minister Manohar Lal Khattar announced on Sunday said the auction of condemned and other vehicles by the police department would be done online. Addressing a "Jan Samvad" programme in Kharak Kalan village in Bhiwani, the chief minister said an order for it will be issued soon, according to an official statement issued here. During the programme, a villager requested the chief minister to initiate online auction of vehicles by the police department. The chief minister accepted the request and made the announcement. Speaking on the occasion, Khattar said that to prevent migration of people from villages to cities, all facilities that are available in cities in terms of education, health, transport, etc, would be provided in villages and colonies as well. He said the state government has approved the demand of the villagers for a community centre in the village. The chief minister announced a financial assistance of Rs 50,000 from his personal fund for medical treatment

Lenders of debt-ridden Reliance Capital (RCAP) on Monday decided to go for a second auction on April 4 in their bid to maximise recovery as part of the resolution process, sources said. According to sources, IndusInd International Holdings Ltd (IIHL) of Hinduja Group on Monday told the Committee of Creditors (CoC) it will retain the earlier bid of Rs 9,000 crore upfront cash. The 38th meeting of the CoC on March 23, 2023 was adjourned and the adjourned meeting was subsequently held today i.e. Monday, RCAP said in a regulatory filing. For a fresh round of bidding, CoC decided to set the base bid at Rs 9,500 crore on a Net Present Value basis, with a minimum cash component of Rs 8,000 crore. Earlier, the Supreme Court on March 20, 2023, admitted the appeal of Torrent Investments -- the highest bidder with Rs 8,640 crore resolution plan -- against the lenders' decision to hold another round of auction. The SC has permitted the lenders to go-ahead with further action as per the Nation

The second-round auction, scheduled for March 20, will not take place now, further delaying the resolution process of RCAP

The sale has brought significant effect in cooling down the price of wheat and atta all over the country

The lenders' of RCap have decided to hold the second round of e-auction, following the NCLAT order, on March 20

Minimum bid amount fixed at Rs 9,500 crore

The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks. The NCLAT order came on a petition filed by Vistra ITCL (India), one of the lenders of Anil Ambani-promoted Reliance Capital, challenging an order of NCLT which restricted further auction of the bankrupt firm. In the Reliance Capital (RCap) matter, Torrent Investments had emerged as the highest bidder with a resolution plan of Rs 8,640 crore. However, the CoC of RCap decided to conduct a second challenge mechanism and then Hinduja Group firm Indusind International Holdings Ltd (IIHL) put a revised bid. This was ...

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.

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

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

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.

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

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 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

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

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

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 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

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

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