64228

Auction Details Auction No Opening Date & Time Closing Date & Time Inspection From Date Inspection Closing Date Scheduled Time 19-06-2013::16:30:00 06-06-2013 18-06-2013 MSTC/SRO/Thiruttani Co-operative Sugar Mills/1/thiruvelangadu/13-14/2883[64228] 19-06-2013::11:00:00 Closed At 19-06-2013::16:30:00

Seller Details Seller/Company Name Location Street City Country Telephone Fax Email Contact Person Thiruttani Co-operative Sugar Mills thiruvelangadu Thiruvelangadu And Post Tiruttani - 631210 INDIA 04427872236 04427872251 thirutanisugar@yahoo.in G.Narayanasamy

LOT NO[PCB GRP]/LOT NAME

Lot No: 01 MS SCRAP Lot Name: Lot No: MS SCRAP 02 C.I. Scraps Lot Name: Lot No: 03 Old Bearing Scrap Lot Name: Lot No: 04 Old Shaft Roller 5 nos Lot Name: Lot No: Old Shaft Roller 5 nos 05 Old Shaft Shell 5 nos Lot Name: Lot No: Old Shaft Shell 5 nos 06 Oil Empty Barrels Lot Name: Lot No: Empty Barrels 07 Plastic cans 250 Nos Lot Name: Lot No: 08 Plastic cans Bearing Scrap C.I. Scraps

LOT DESC

QUANTITY

ED/(ST/VAT)

LOCATION

25 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

5 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

0.5 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

16 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

15 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

130 NO

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

Old Typewriter machine 5 nos Lot Name: Lot No: Old Typewriter machine 09 Old bus, lorry, jeep Tyres Lot Name: Lot No: Tyres 10 Damaged Old Vehicle Tubes Lot Name: Tubes

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

Lot No:

11

Old Hot Oven

1 NO

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

Lot Name: Lot No:

Old Hot Oven 12 Old Steel Drum 3 Nos 1 LOT As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

Lot Name: Lot No: 13

Old Steel Drum

Precession 30 MT Weighing machine dialguage only 2 Nos Lot Name: Lot No: Precession 30 MT Weighing Machine dialguage only 14 Old Uncondition hero Majestic TDH 7435 Lot Name: Lot No: Old Uncondition hero Majestic 15 Old Telephone Instruments ( not use) - 40 Nos Lot Name: Lot No: Old Telephone Instruments - 40 Nos 16 Old Wireless box - make elcot - 11 Nos Lot Name: Lot No: 17 Damaged Gunny bags - 3553 Nos Lot Name: Lot No: Damaged Gunny bags 18 Wrapper Gunnies Lot Name: Lot No: 19 Old Bale Thagadu(sheet) Lot Name: Lot No: Old Bale Thagadu(sheet) 20 Empty Plastic ( 200 Litr. ) Oil Barrels Lot Name: Lot No: 21 Old Brass Tube Lot Name: Lot No: 22 Stiching Machine Head - 4 Nos Lot Name: Lot No: Stiching Machine Head 23 Old Electrical Spares Lot Name: Old Electrical Spares Old Brass Tubes Barrels Wrapper Gunnies Old Wireless box

1 LOT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 NO

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

2 MT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

2.5 MT

As Applicable / 5% Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

10 NO

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

2.63 MT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

1 LOT

12.36 / 5%

Tiruttani Co-op. Sugar Mills, Thiruvalangadu 631210 State :Tamil Nadu

Total No of Lots = 23

Special Terms & Conditions IMPORTANT: THE MATERIAL LIST & STC DISPLAYED UNDER VIEW FORTHCOMING AUCTIONS ON MSTC'S EAUCTION WEBSITE ARE TENTATIVE AND SUBJECT TO CHANGE AT THE SOLE DISCRETION OF MSTC/PRINCIPAL BEFORE THE START OF EAUCTION. BIDDERS SHOULD, THEREFORE, DOWNLOAD THE MATERIAL LIST AND STC DISPLAYED ONLY UNDER VIEW LIVE AUCTIONS FOR THEIR RECORD PURPOSE, IF REQUIRED, AND BID ACCORDINGLY. This sale is also governed by GENERAL TERMS & CONDITIONS(GTC) and BUYER SPECIFIC TERMS & CONDITIONS(BSTC). This SPECIAL TERMS & CONDITION(STC) supersedes GTC and BSTC. MSTC shall have the right to issue addendum to the GTC or BSTC or STC to clarify, amend, modify, supplement or delete any of the conditions, clauses or items stated therein and the Addendum so issued shall form a part of the original STC

Contact Details (MSTC Ltd.):- V.GANESA MOORTHY, ASSISTANT MANAGER, Ph: 044 - 25219004 / 25222842 / 25231584, Fax: 044 - 25220091, (e-Mail:- vgmoorthy@mstcindia.co.in ) CONTACT PERSON (Sugar Mill): Shri. G.Narayanasamy 1) INSPECTION OF LOT/ EAUCTION DATE : For inspection of materials, the seller/company name, date of commencement of inspection, name of contact official with their contact details are as mentioned above. The e-auction commencement date/ closing date are also as mentioned above. The buyer has to satisfy himself about the quality quantity, age, condition etc of the materials. The registered Parties (or their Authorized Representative) should produce their e-Auction Photo ID Card to the Seller or produce a copy of this e-Auction Catalogue downloaded from the Website. 2) EAUCTION RESULT/STATUS : It must be personally seen by the Bidders online through the link Auction Lot Status immediately after closing of e-Auction which will be displayed up to 7 (Seven) days from the date of Closing of e-Auction (excluding the date of closing of e-Auction) and payment of Post-Bid EMD/SD must be made accordingly. Immediately after closing of e-Auction, a system generated automatic Sale Intimation Letter will be issued by e-mail to the Successful Bidder. The bidders must always keep their registered email account valid, failing which bidders will be liable for non-compliance of payment/delivery instructions if issued by MSTC/SELLER from time to time. 3) PAYMENT OF EMD/SD: SD payable within 7 (Seven) calendar days from the date of closing of e-auction. The bidder has to deposit SD equivalent to 25% of quoted Basic value of the confirmed lots and 10% of the basic value of the STA lots in the form of DEMAND DRAFT drawn in favour of "Tiruttani Co-op Sugar Mills Ltd" payable at Tiruttani on any scheduled bank Nonpayment will result in automatic deactivation of Bidders Password. Although immediately after closing of e-Auction, a system generated automatic Sale Intimation Letter will be issued by e-mail to the Successful Bidder it must be noted by the Bidders that such Sale Intimation Letter will be issued by MSTC only for the purpose of record and payment of Post-Bid EMD/SD will have to be made within the stipulated time. Bidders must, therefore keep a watch on their incoming e-mail. No hard copy of the Sale Intimation Letter (on Confirmed or STA basis) will be issued by MSTC. Pre and Post-Bid EMD/SD are adjustable towards material value. 4) DEFAULT IN PAYMENT OF EMD/SD In case the successful Bidder fails to pay post bid EMD/SD, their pre-bid EMD, if any, will stand forfeited automatically, besides de-activation of their login. If the last date of payment happens to be the Bank/MSTC Holiday, the payment will be accepted on the next day. b)Rate of EMD/SD : Post-Bid EMD/SD will be @ 25% of the Sale Value for Lots Sold on Confirmed basis and 10 % for the Lots under STA Basis. c) Post-Bid EMD/SD by way of PO / DD of any Scheduled Bank in favour of the seller must be submitted to MSTC, or any office of MSTC (see details of MSTC's Regional / Branch Offices on MSTC's Website). EMD / SD will be adjusted against the material value. 5)PAYMENT OF BALANCE SALE VALUE WITH TAXES AND DUTIES :In case of sold / confirmed lots the buyer will have to deposit balance material value within 15 (Fifteen) calendar days from the date of closing of the e-auction and in case of lot accepted on STA basis the balance payment has to be made within 7 (Seven) calendar days from the date of Sale Order, in the form of DEMAND DRAFT as per the following manners. (i) 3.9326% of the material value to be paid in favour of MSTC Limited, by way of DD / PO, payable at CHENNAI. (ii) 71.0674% of the Material value for accepted lots or 86.0674% for STA lots, alongwith Applicable VAT, TCS@ 1% on Gross material value should be paid by way of DD/PO in f/o "Tiruttani Co-op Sugar Mills Ltd" payable at Tiruttani It must be noted by the Bidders that such Sale order/acceptance Letter will be issued by MSTC only for the purpose of record and payment of balance sale value along with taxes and duties must be made within the above specified time. If the last date of payment happens to be the Bank/MSTC Holiday, the payment will be accepted on the next working day without late payment charge. 6)DEFAULT IN PAYMENT OF BALANCE PAYMENT: In case of default in payment of the balance Sale Value within the prescribed time limits, the due payment may be made together with late payment charges @ 1% per week or part thereof calculated on the balance Sale Value for a minimum period of two weeks. However, this shall not confer any right to the Bidder to make any Late Payment of Balance Sale Value or applicable Duties and Taxes and MSTC/Seller reserves the right not to accept the payment of the Balance Sale Value with or without additional charges after expiry of due payment time as mentioned above. If the buyer fails to pay the balance material value along with applicable Duties and Taxes & late payment charges within above mentioned due date, then Pre-& Post bid EMD/SD of particular lot will stand forfeited automatically. Besides above, MSTC/Seller reserves the right to forfeit any amount/money lying with MSTC/Seller from the successful Bidder who defaults in making the due payments against the e-Auction even though such amount/money may be lying with MSTC/Seller on account of the said Bidder against any other contract/transaction 7)DELIVERY ORDER : On receipt of balance payment towards sale value along with taxes and duties, delivery order will be issued indicating the delivery period as under : The period of delivery will be 30 calendar days counted from the date of issuance of Sale Acceptance Letter. If the last date of delivery happens to be the closed Holiday for sellers, the delivery will be allowed on the next day without ground rent. 8)DELIVERY OF MATERIAL For the purpose of taking delivery from the Seller's Location/Depot/Plant, the authorised representative of the Buyer i.e. the authorized Photo ID Card Holder should report to the Seller along with his original Photo ID Card or the said Photo ID Card Holder may depute any other Representative along with Authority Letter on Buyers Letter-Head after duly attesting the signature of his Representative along with a Self Certified/Notarised Photocopy of his Photo ID Card. The successful Bidder/Buyer must take prior permission from the principal before placement of vehicle for taking delivery of material. 9)DEFAULT IN DELIVERY : In case of delay in lifting beyond the above specified period, ground rent @ 1% or part thereof up to a period of 2 weeks will be charged by the seller in advance. In case the delay is beyond 2 weeks, the seller will have the option to grant further extension, in exceptional cases with/without additional ground rent, depending upon the circumstances for such delay or forfeit the entire amount paid towards this lot at their sole discretion. 10) In case of any dispute regarding payment/delivery or any other matter relating to this e-auction, the decision of MSTC/SELLER shall be final 11) ARBITRATION: In the event of any dispute and/or difference arising between the Purchaser /Buyer and/or their Agent/Seller as to the construction, interpretation and or execution of the contract and/or execution of the contract and/or

the respective rights and liabilities of the parties, such disputes and/or differences shall be referred to the Sole Arbitration of the Chief Executive of the Principal for a Company registered under the Companies Act. in case of a PSUs; the Head of the Department in case of a Govt. Department. Ordnance Factory Board Units/Defence Units, who may act himself or nominate in his stead any officer subordinate to him or of MSTC being not below the rank of General Manager/Director in the Govt. Dept. who shall act as the Sole Arbitrator. The provisions of the Indian Arbitration Act. 1995, and the Rules there under shall apply to such Arbitration The award passed by such Sole Arbitrator shall be final and shall conclusively bind all the parties 12.BLACK-LISTING: The Seller and/or MSTC reserve the right to black-list, debar any bidder/buyer due to any act of omission or commission or fraudulent acts indulged or caused to be indulged by such bidder/buyer in the course of bidding process and/or in the execution or performance of any of the contracts which may be awarded to the bidder/buyer pursuant to the e-auction, provided however, that the Seller and/or MSTC shall be obliged to allow an opportunity of being heard to such bidder/buyer before any order of black-listing/debarment could be passed. Any such order of black listing/debarment that may be passed by the Seller and/or MSTC shall be without prejudice to other right of actions available to the seller and/or MSTC against the bidder/buyer under the e-auction terms and conditions 13) GENERAL : a) VALIDITY OF BIDS: All the bids will be valid for 30 thirty days including from the date of Sale Order. In case the 30th day falls on a holiday or remains closed for MSTC, such Bids will be deemed to be automatically extended to be valid upto the next working day of MSTC. b) PERIOD OF CONTRACT: Up to the validity period of the Delivery Order issued by MSTC/Seller or up to the extended period of validity of the Delivery Order/Release Order in case the Delivery period is extended by the Seller. c)Confirmation of sale on confirmed basis/STA basis : After closing of e-Auction, in case the Highest Bid is equal to or more than the Reserve Price, the respective Lot will be deemed to be Sold on CONFIRMED basis, whereas if the Highest Bid is less than the RP but equal to or more than the lower limit of the RP, then such Highest Bid will be deemed to be Provisionally Sold on SUBJECT TO APPROVAL (STA) basis for which status will be available at the website as indicated above. For lot sold on provisional under STA basis, final online approval or otherwise will be made by the principal and automatic email intimation will be issued to the bidder within the validity of their offer which shall be 10 calendar days from the date of issue of email intimation(excluding the date of issue). d) CAUTION IN SUBMISSION OF BID : The Bidder shall be solely responsible for all consequences arising out of the bid submitted by him (including any wrongful bidding by him) and no complaint/representation will be entertained by MSTC/Seller in this regard. Hence Bidders must be careful to check (the Bid Amount/No. Of 0/No.of Digits/Unit of Measurement etc.) and rectify their bid (if required) before submitting their Bid into the live e-Auction floor by clicking the 'Bid Button. In case of any bid being equal to or more than 5 (five) times the current Highest Bid for a particular Lot, this will be displayed by way of a WARNING on the Bidder's screen before he confirms/submits the bid. There is no provision for putting Bids in decimals. During Live Auction, only brief Lot/Item details will be shown under Lot Name on the Auction Floor where Bidders are required to bid. The complete Item Details can be seen by the Bidders by clicking on the respective Item hyperlinked under Lot Name and it shall be the responsibility of the Bidders to see the Item Details before bidding and no representation / complaint in this regard will be entertained by MSTC / Seller from the Bidders. e)UNIT OF MEASUREMENT (UOM) FOR BIDDING, SALE & DELIVERY: Each Lot will have to be bid, sold and delivered on the basis of Unit Of Measurement ( i.e. UOM ) stipulated in the Material List displayed on the Auction Floor of View Live Auctions. Any representation/complaint from the Bidders for the Bid to be made/having been made on the basis of any other Unit of Measurement will not be entertained. f) TAXES AND DUTIES : Normally all sale will be treated as Local Sale & the Buyer shall have to pay Sales Tax as per the Local Sales Tax Act/Rules/Tariff of the concerned State applicable on the date of delivery. Unless otherwise specified, the sale against C-Form/CST will not be accepted. The rate of Excise Duty, Sales Tax/VAT Income Tax, Education Cess or any other statutory Duty/Tax/Levy/Charge etc. will be applicable and payable by the Buyer as prevailing on the date of actual physical delivery of materials. The rates of Duties and Taxes displayed on the e-Auction Website are only indicative and based on the rates prevailing before the commencement of the e-Auction. Successful Bidders shall have to pay Income Tax by way of TCS @1.0% plus 10% Surcharge and 2% Education Cess plus 1% as higher Education Cess on all Scrap items purchased for trading as per Section 206 C of IT Act 1961. The TCS will be calculated on the gross Sale Value i.e. Materiel Value plus Excise Duty (if any) & Sales Tax/VAT. g) DEACTIVATION OF PASSWORD : If the successful highest Bidder for both Confirmed or STA sale, fails to pay the Post-Bid EMD/SD in time, then his Password will be deactivated and shall normally be DEBARRED for a minimum period of 6 (six) months from participating in all e-Auctions and disposal sales by MSTC on behalf of this Seller and, his Registration Fee will be forfeited. While considering his request for reactivation which will be at the sole discretion of MSTC, all facts including the number of Seller/ eAuctions / Lots for which he had failed which are germane will be taken into account. h) SALE OF UNSOLD LOT : MSTC at its sole discretion may take recourse to any of the following options for sale of the unsold Lot: a)The Unsold Lot may be put up for re-eAuction at the sole discretion of MSTC without Pre-Bid EMD (Earnest Money Deposit) OR with Pre-Bid EMD as may be deemed fit by MSTC. b)The H-2 Bidder may be asked to match the H-1 Bid along with submission of requisite EMD / SD within a period as may be prescribed by MSTC. c)MSTC may take any other action in consultation with the Seller. i) DELAYED PAYMENT OF POST-BID EMD/SD :Delayed payment of Post-Bid EMD/SD may be accepted depending on the circumstances of the case or urgency of disposal with/without penalty as may be deemed fit by MSTC/Seller. This shall however not confer any right to the Bidder to make any Late Payment of Post-Bid EMD/SD. j) CALCULATION OF GROUND RENT FOR DELAYED LIFTING :In case of Goods sold on Lot Basis, the Ground Rent will be calculated at the rate specified above on the value of the entire Lot even if lifted in part, where as in case of Goods sold on Unit Weight or Unit Number Basis, the Ground Rent will be calculated on the value of unlifted quantity However it must be noted by the Bidders that it will be the sole discretion of the Seller not to allow the Buyer to lift the Goods with or without the Ground Rent after the expiry of the stipulated free Delivery period or even within the aforesaid additional period of 14 (Fourteen) Days and in such event, the sale of the material not lifted by the Buyer(s) will be automatically cancelled and all the moneys paid by the Bidder /Buyer will be automatically forfeited. k) REMOVAL OF SOLD MATERIAL :The materials sold shall be removed by the Buyers from any one side of the Lot as per the sole direction of the Seller and no segregation/pick and choose of items from the sold Lots will be permitted. For the purpose of removing the materials, the successful Bidder shall employ or engage only his / their own personnel at their own cost and shall keep the Seller fully indemnified against any claims whatsoever including claim for wage, injuries, compensation, death etc. They must follow all safety rules in this connection wherever applicable. The buyer shall be liable for any violation of such rules. l) DISMANTLING OF MATERIAL FOR LOADING :In case any cutting permission is required for dismantling operations, the same will have to be obtained by the Buyers from the Seller's authorized representative and it will be sole discretion of the Seller to allow or not to allow such cutting permission. In case such permission is granted by the principal, such operation has tobe undertaken at buyers cost and risk only, to the extent of facilitating the loading and transportation of the goods. They must follow all safety rules in this connection wherever applicable. The buyer shall be liable for any violation of such rules. m) ACCIDENT DURING DISMANTLING/REMOVING/LOADING/TRANSPORTATION AT Sellers PREMISES: While dismantling/ removing/loading/transportation of materials at sellers premises ,if any accident or damage to the property/life etc. arises by reason of any act of negligence /omission /default or non-compliance with any of the Terms & Conditions of statutory regulations or rules and regulations applicable or otherwise on the part of the Bidder's / his representative or employees resulting in death or injury to any persons or damages to the property of Seller or any third Party then in such an event the Bidder will have to pay compensation to any such person including the employees of Seller for such injury / for damage to

person's property of such persons. The Bidder shall in such and event keep the Seller fully indemnified from any demand, claims or proceedings made by any party. n) EXPORT OF GOODS: In case of Goods belonging to Defence Depots/Units under Ministry of Defence and Ordance Factories, participation in the eAuction by the Bidders shall be deemed to imply that the Bidder undertakes not to export the Goods outside the territory of India, unless otherwise permitted by the seller, failing which the sale will be liable for cancellation. o) SALE OF HAZARDOUS WASTE ITEMS: a) Sale of Hazardous Waste items, namely Waste/used Oil and specified categories of Non-Ferrous Metal Waste will be governed by the Hazardous Wastes (Management and Handling) Rules, 1989 and its amendments, of the Central Government. Under Rule 7 (sub-rule 6) of the Hazardous Wastes Rules, in case of transport of hazardous wastes to a facility for treatment, storage and disposal existing in a State other than the State where hazardous wastes are generated, the occupier shall have to obtain No objection Certificate from the State Pollution Control Board or Committee of the concerned State or Union territory Administration where the facility is existing. Notarised copy of such NOC must be submitted before issue of delivery order within the specified time. The lots shall be delivered by the seller/owner to the successful MOEF/CPCB registered buyers after receiving the above NOC and also making necessary endorsement in respect of the quantity transacted in the original letter of MOEF/CPCB registration and photostat copies of the endorsement shall be furnished to their State Pollution Control Board by the seller/owner.b)Sale of Batteries shall be governed by the Batteries (Management and Handling) Rules, 2001 of the Central Government.. The lots shall be delivered by the seller/owner to the successful MOEF/CPCB registered buyers after making necessary endorsement in respect of the quantity transacted in the original letter of MOEF/CPCB registration and photostat copies of the endorsement shall be furnished to their State Pollution Control Board by the seller/owner.c) If the validity of Bidders MOEF/ CPCB Certificate expired on the Starting Date of eAuction, then there is likelihood of his Password being deactivated. Therefore, interested bidder must ensure to produce a valid MOEF/CPCB renewal certificate photocopy to MSTC along with its original for verification and return to get his Password duly activated before the Starting Date of e-Auction. Wherever after the award of the lot, validity of MOEF/CPCB Certificate expired, the bidder must submit copy of such certificate duly renewed by MOEF/CPCB within the stipulated time of payment of Balance Sale Value failing which the payment will not be accepted and the pre-&post bid EMD/SD paid will stand automatically forfeited. p) The Bidder(s) shall have no right to issue any addendum to these Special Terms and Conditions or Buyer Specific Terms and Conditions to clarify, amend, supplement or delete any of the conditions, clauses or items stated therein. q) MSTC / Seller reserves the right to accept / reject any offer / bid, withdraw from sale, the materials offered for sale in full or part thereof prior to or after the acceptance of the bid without specifying any reason thereof. 14 ) Netbanking Option: a) The amount will be credited in T+1 EOD basis, so the buyer should remit the fund through Netbanking 24 hours before the last day mentioned in the Auction Catalogue. Fund transfer through Netbanking is NEFT transaction and the same will be credited in MSTC account the next very day excluding Sunday/holiday as per RBI guidelines. National Electronic Funds Transfer (NEFT) facilitates transfer of funds to the credit account with the other participating bank. RBI acts as the service provider and transfers the credit to the other bank's account. b) Buyer has to inform the details such as amount transferred, date of transfer, buyers bank name, UTR No., Auction No., Lot No., payment type such as Pre-bid EMD, EMD, Material Value, Taxes, Full Value,etc to MSTC on the same day of the date of transaction . MSTC has no responsibility of delay in issue of AL, DO,etc in case buyers failed to inform through mail. c) For making online payment buyer has to use Internet Explorer 7 ( IE7 ) and above. d) Steps for e-payment is mentioned at the link given as below.