CLIENT:

Marathon Electric Private Ltd.

Office:

Marathon Electric India Private Ltd.

Sector - 11, Model Town, Faridabad - 121006
Ph.: +91-129-2265340(ext.)
Fax: +91-129-2284855, 2286423

Online Auction Platform &

Support Service Provide By:

Global e-Auction
Registered Office:
S-10,Star City, District Centre,
Mayur Vihar Phase-I (Extn.)
New Delhi-110091
Email:
Telefax: +91-11-47087983
Web: www.globaleauction.com

Global e-Auction is an authorized e- auction service provider for Marathon Electric Private Ltd. (Seller) to obtain rates online
through its portal www.global-eauction.com . The sale and purchase are directly made by the Seller and buyer/s (Bidder/s).

Marathon Electric Private Ltd. will sell different scrap items like: As per the List given below
Through Online Auction subject to terms and conditions annexed hereto and as per the general terms & conditions of Marathon
Electric Private Ltd. and as per schedule of program given below

SCHEDULE TABLE

DATE: 07th Dec 2023 to 26th Dec 2023 (Excluding Sundays & Holidays)
Inspection of Materials
TIME: 10.00 A.M to 05.00 P.M

Marathon Electric India Private Ltd.,

Venue for Inspection Sector - 11, Model Town,
Faridabad – 121006
On –line Auction Date & Time 27th December, 2023 at 3:30 pm onwards

Last Date to receive EMD 26th December, 2023 at 5:00 pm

EMD as per details given in the auction list DD should be drawn in favor of
“Marathon Electric India Private Limited” payable at Faridabad & to be
EMD Details
Submitted at any of the location mentioned below
 CATALOGUE FOR E-auction.
Annexure-A
Item Specification
Auction List

Ernest
Lot Auction Approximate Lifting Period Money
Auction Date Items code Item Description
No. Time Qty. Deposit
(RS.)

Plastic spool
3:30 pm to 2MT/ 1Month Within Jan,
1 4:15 pm SCR002
(Broken & Small)
Feb, Mar, 24
Rs. 5000/-
27/12/2023 & Component
Empty & oil mix
3:30 pm to water filled 205ltr 150 No/1 Month
2 27/12/2023 drum* Within Jan,Feb, Rs. 10,000/-
4:15 pm SCRAP-DC
( PCB CERTIFICATE Mar, 24
REUQIRED )

Empty (Plastic Within Jan,Feb,

27/12/2023 3:30 pm to Cane 50Ltr, 25 Nos/1Month
3 4:15 pm
SCR047 Mar, 24 Rs. 5000/-
( PCB CERTIFICATE
REUQIRED )

Empty (Plastic
3:30 pm to Cane 35Ltr, 25 Nos/1Month
4 27/12/2023
4:15 pm
SCR047 Within Jan,Feb, Rs. 5000/-
( PCB CERTIFICATE
REUQIRED Mar, 24

Paint & thinner

3:30 pm to 20ltr drum) * 100 Nos/1 Month Within Jan,Feb,
5 27/12/2023 SCR017 Rs. 5000/-
4:15 pm ( PCB CERTIFICATE Mar, 24
REUQIRED )

27/12/2023
3:30 pm to 10MT/1Month Within Jan,Feb,
6 Fire Wood Scarp
4:15 pm SCRAP-W Mar, 24 Rs. 20000/-
Used Oil with
27/12/2023 3:30 pm to drum 205ltr* 3 Nos/1 Month Within Jan,Feb,
7 4:15 pm SCR030
( PCB CERTIFICATE Mar, 24 Rs. 10,000/-
REUQIRED )

Ball Bearing scrap

3:30 pm to 20000 Nos / 3 Within Jan,Feb, Rs. 10,000/-
8 27/12/2023
4:15 pm
(small and large
Month
SCR016 Mar, 24
Size,)

3:30 pm to Aluminum Dross 2.5MT/1 Month Within Jan,Feb,

9 27/12/2023
SCR033 with ash Rs. 20,000/-
4:15 pm Mar, 24
Note: (for bidders to follow):-

 The parties have to lift materials on daily basis after getting clearance from Marathon Electric. For this parties
have to coordinate with Marathon Electric. Repetitive non-fulfillment can result into panel action as per rules
of the company.

 For new bidders it is mandatory to fill and submit the Due Diligence form and other mandatory details within 2
days of receipt of Confirmation mail from M/S. Marathon Electric.

 Timely advance payments should be made as per the requirement of M/S. Marathon Electric.

 If H1 party fails to lift the material or is not acceptable to the client in that case Client can place
order on H2 party at his quoted rates and it will be binding on the party. If H2 party will not lift
the materials his EMD will be forfeited by the client.

 For Drums lot Winning Party have to Place the truck when the Count of 40Nos of Drums..

CONTACT DETAILS

Marathon Electric Private Ltd. Global e-Auction

FA Number Reference
Contact
Person at
Works
Item As per annexure A Annexure-A
Description
EMD Amount Mentioned in the Auction List Below

Global e-Auction P Ltd Marathon Electric India Private Ltd.

EMD
Registered Office: Sector - 11, Model Town, Faridabad -
submission
S-10, District Centre, 121006
Place
Mayur Vihar Phase-I
New Delhi-110091
Last date of
Submission 26th December, 2023 at 5:00 pm
(EMD)
Auction Date
27th December, 2023 at 3:30 pm onwards

Bidding Basis Basic price of the scrap material. Applicable GST will charge extra as applicable at the time
of Billing...
Validity of 30 days from the date of Auction.
Price Bid

Payment 100 % Payment in advance before lifting of the material.

Date/Schedule
Conditions for 1. The parties have to lift materials on daily basis after getting clearance from Marathon
Lifting Electric. For this parties have to coordinate with Marathon Electric. This is mandatory and in
case someone defaults M/S. Marathon Electric would arrange the transport at bidder’s cost.
Repetitive non-fulfillment can result into panel action as per rule of the company.

2. For new bidders it is mandatory to fill and submit the Due Diligence form and other
mandatory details within 2 days of receipt of Confirmation mail from M/S. Marathon
Electric.

3. Timely advance payments should be made as per the requirement of M/S. Marathon
Electric

1 The aforesaid Bank Draft should be in favour of “Messrs. Marathon Electric India Private
Limited” Faridabad.
Marathon Term
& Conditions 2 For the H1 Bid that have been accepted, the Earnest Money Deposit amount will be credited
towards the Security Deposit, which will be required to be deposited for the duration of the
contract that shall be executed with the successful bidder(s). In the event of failure to honour
the accepted Tender on the part of bidder the Earnest Money deposit shall be forfeited by the
Company without assigning any reasons and entering into any further correspondence what so
ever.
3 The Rates quoted by the bidders should be the basic price of the scrap material accepted. GST
will charge extra as applicable at the time of lifting. Loading and labour will be the
responsibility of the successful bidder(s).
4 All scrap materials should be lifted on lot basis periodically till the last day of the contract
period. Nothing should be accumulated in scrap yard on the premises of the Company. Refund
of the Security Deposit will be subject to the above.
5 The highest Bidder does not get any right to demand acceptance of his bid/offer. Marathon
electric reserves the right to accept/reject/cancel any bid/offer, even after acceptance of
bid/offer, issue of delivery order/purchase order without assigning any reason there of. In the
event of such rejection, cancellation or withdrawal, the Marathon electric shall not be
responsible for any damages/loss to the successful bidder on account of such rejection,
cancellation or withdrawal.

6 The successful bidder(s) shall at all times during the period of the contract be personally
responsible to find out from the concerned officials of the Company, the availability and
quantity of scrap material in the Scrap Yard. Notwithstanding anything to the contrary, the
scrap materials shall not be permitted to accumulate for more than the period(s) as mentioned.
7 In the event of failure on the part of the successful bidder to fulfill his contractual obligations,
seller / GTT reserves the right to debar such bidder from participating in any future auction
 conducted by GTT on behalf of seller.
8 Incase H1 party in FA is not accepted by the client then Client can place order to H2 and H3
party on its quoted rate and it will be binding on the party.
9 Any deterioration /damage etc. of the scrap materials shall at all times be the responsibility of
the successful bidder(s) concerned.
10 Sub-Letting, transfer or assignment of the contract will NOT BE PERMITTED.
11 At the time of execution of the contract with the successful bidder(s), the following documents
are required to be submitted by the successful bidder(s) to the Company –
(a) Copy of last balance sheet,
(b) Copy of last Income Tax Return,
(c) Bank Account details with confirmation from the Bank,
(d) In case of corporate body: copy of Memorandum and Articles of Association; and such
other documents as the Company may ask for
12 All scrap material will be sold on AS IS WHERE IS BASIS.
13 (*) Marked scrap material in the enclosed Form will be reserved only for such contractor(s) as
are certified by the Pollution Control Board, Haryana.
14 Successful bidder(s) shall provide all necessary PPEs e.g. safety shoes, safety goggles, gloves
etc. to their labourers.
15 All labourers of the successful bidder(s) will wear identification badges.
16 No person below the age of 18 years shall be allowed to work.
17 The Company reserves its right to terminate the contract at any time without assigning any
reasons.

SAFETY CLAUSE: “Persons who will enter Marathon Electric India Private Ltd., factory premises for Collection & lifting of
scrap materials etc., should be protected by the Buyers against any accident by use of Personal Protective Equipment and
"ESI / Insurance coverage". Marathon Electric India Private Ltd. will not be held responsible for any accident during lifting
of material by Buyers in the factory premises.

Your offer should be BASIC PRICE Only. (GST will be charged extra as applicable)
Rates must be quoted per unit/lot:

1. GST will shall be charged extra as applicable.

2. Dismantling and loading is in scope of the buyer.
 TERMS & CONDITIONS OF THE ONLINE
AUCTION

Definitions

SELLER: -Seller referred in this catalogue, is MARATHON ELECTRIC INDIA PRIVATE LIMITED

SERVICE PROVIDER: Global E-Auction P Ltd (hereinafter referred to as “GEAP) is an

ecommerce service provider appointed by the seller to facilitate virtual auction by the
seller. GEAP will only facilitate online auction and are considered as third party not
particularly interested in the item/s being sold on behalf of seller.
BIDDER – Any person - as an individual OR a proprietor OR a partner OR an authorized
representative of any company OR any legal entity and who is paying the requisite EMD and
registered at GEAP and who makes or places a bid for and purchases the auction property
either in part or in full is considered as a bidder. One individual can represent as a bidder
on his own behalf and on behalf of other companies provided he registers himself in those
capacity separately i.e. for each representation he should pay separate Earnest money deposit.
Successful Bidder is that Bidder in whose name confirmation of sale is issued by the seller.

1.0-GENERAL TERMS & CONDITIONS

1.1- Subject to the reserve price, if any, fixed by the SELLER and subject to the terms and
conditions set out herein, sale shall be made to the HIGHEST BIDDER on “AS IS WHERE IS
BASIS” and “NO COMPLAINT BASIS.” The Seller does not undertake any responsibility
to procure any permission/license etc. in respect of the auction property offered for sale.

1.2- SELLER reserves the right to modify andamend the terms &conditions and announce the
same at any time before the entire auction concludes. Announcements during the auction in the
auction room on the website and changes made in the catalog including start price, bid
increment/decrement, extension of time for lots where received bids / no bids are received,
and any other additional conditions OR correction in the catalogue and/or additions or
deletions of items being offered for sale are being done with the consent and knowledge of the
seller, and it is binding on the bidder. Bidders are advised in their own interest not to leave
the auction room till the entire auction is closed.

1.3- Participation and bidding in this Auction shall be treated as conclusive evidence of the fact
that the bidder has inspected the Auction Property and the documents pertaining to it and is
satisfied in all respects regarding quantity, quality, condition of the Auction property, taxes
and duties, and other extraneous factors and the Principle of Caveat Emptor (let the buyer
beware) will apply.It shall also imply that the bidder has carefully gone through and understood
the terms and conditions of Auction including the amendments if any, prevailing at the time
of Auction. Seller/GEAP will not entertain any complaints or objections once Bid is placed.

1.4- Seller./GEAP does not give warranty or guarantee of the quality, quantity, measurement,
 condition Chemical composition of each individual item/s or lot/s that form the auction
property and about its “End Use” or fitness for a particular purpose.

1.5- The highest bidder does not get any right to demand acceptance of his offer. SELLER
reserves the right to accept/ reject/ cancel any bid, withdraw any portion of the Auction
property at any stage from Auction even after acceptance of bid/ issue of delivery order or
release order/ deposit of full value by successful bidder without assigning any reason thereof.
In the event of such rejection/ cancellation/ withdrawal, SELLER, shall refund the value of
Auction Property,if paid for, to the successful bidder. SELLER shall not be responsible for any
damages/loss whatsoever to the successful bidder on account of such withdrawal.

1.6- EMD amount will not carry interest.

1.7- In the event of failure on the part of the successful bidder to fulfill his contractual
obligations, seller / GEAP reserves the right to debar such bidder from participating in any future
auction conducted by GEAP on behalf of seller.

Disclaimer –

1- GEAP runs its business on the basis of a robust Web Site. However GEAP is outsourcing server
space from a third party hosting company and hence shall ensure the smooth running in all good
faith and intention. However GEAP will not be held responsible for any failure of power,
Network, server, hosting server, Internet connectivity, ISP or otherwise at Bidder's end or at
GEAP directly or indirectly affecting online method of Bidding.

2- GEAP takes no responsibility of the quality, quantity, documentation details of buyers/sellers.

Both the buyers &sellers agree to defend, indemnify and hold harmless. GEAP from any loss, damage,
cost and expenses caused by any reason during this transaction. In no even tshall GEAP be liable
for any loss for the transacts by business, revenues, profit, costs direct and incidental, consequential or
punitive damages of any claim. Both the parties agree to have discussed all the related matter
regarding this transaction and have understood in full that GEAP has provided a source of supply
and has nothing to do any further especially with regards to quality, warranty, guarantees, delivery
schedules, payments, rejections, transportation, legal laws and regulations to be followed from time
to time etc. Since GEAP does not possess knowledge base of the commodities under transaction
both the parties agree that the matter contained in the materials as a part or as a whole does not
violate any applicable law. GEAP is only an e-commerce service provider, and is not and cannot be a
party to or control in any manner any transactions between the Seller and Bidder. GEAP shall
neither be responsible nor liable to mediate or resolve any disputes or disagreements between the
Seller and Bidder.

3- The Seller/Bidder agrees to limit the liability of GEAP to them for any and all claims, losses,
costs, damages of any nature whatsoever or claims expenses from any cause or causes, including
attorneys’ fees and costs, so that the total aggregate liability of GEAP to the Seller/Bidder shall
not exceed its total fee receivable from the Seller/Bidder. It is intended that this limitation apply
to any and all liability or cause of action however alleged or arising, unless otherwise prohibited
by law.
2.0- PARTICIPATION

2.1- MARATHON ELECTRIC INDIA PRIVATE LIMITED Reserves Right of participation in

online auction.
2.2-Bidders/Seller may note that any payments by DD or cheque or any other means towards
EMD/Security Deposit or other purposes received by GEAP on behalf of Seller/Bidder shall be
handled in good faith and intention. However GEAP shall not be responsible for the loss of DD/
Cheque from its custody due to reasons beyond its control such as fire, theft, burglary, loss in
transit, accident, war, riots, civil commotion, any terrorist activity, any natural calamity, adverse
weather and climatic conditions etc.

2.3- Bidders must mention PAN No. on Acceptance Form, failing which bid can’t be accepted.

2.4- The prospective bidders have to register with GEAP by submitting the Membership
Registration form duly filled and signed along with self-attested copies of their PAN Card, valid
VAT registration certificate (if available), and address proof by way of electricity bill, or
telephone bill, or Bank account statement for the last six months. The Membership Registration form
along with the prescribed documents shall be submitted to GEAP. The Prospective Bidders, who have
submitted the Membership Registration form along with the prescribed documents to GEAP once,
need not submit the same again. The prospective bidders after completing the registration process as
above shall have to deposit Earnest Money Deposit (EMD) for each lot separately or for all lots as
prescribed. (Refer Details of Auction Property for Lot-wise EMD) by Demand Draft / Pay Order on
any Scheduled / Nationalized Bank /Scheduled Co-operative Banks (as prescribed by the Seller)
Drawn in favor of “MARATHON ELECTRIC INDIA PRIVATE LIMITED.” It has to be
submitted directly to any office of GEAP (see details of GEAP’s Offices in
www.globaleauction.com). CASH WILL NOT BEACCEPTED.

2.5- On completion of the registration process and payment of prescribed EMD as outlined in 2.4
above, seller/GEAP will activate the User – Identity to enter into Website www.globaleauction.com.,

2.6- Bidders SHOULD NOT disclose their PASSWORD to anyone and safeguard its secrecy. Bidders
are advised to change the Password.

3.0- CONDITIONS APPLICABLE TO “ONLINE” AUCTION METHOD OF BIDDING

3.1- Validity: The Online auction bidders and Tender bidders must keep their bids valid for a period
of 30 calendar days from the date of closing of e-Auction excluding the date of closing. In case
the 30th day falls on a holiday or remains closed for the seller, such Bids will be deemed to be
automatically extended to be valid up to the next working day of seller.

3.2-Time Extension: If any market-leading bid (bid higher than the highest at the point in time)
is received within the last 3 minutes (“Time Extension” as mentioned in the Bidding
Room will be in force & 3 Minutes is an example) of closing time, the time will be extended
automatically by 3 minutes.

3.3- Training: GEAP will provide training (online)if required by the bidders at mutually convenient date
and time before the Auction.
3.4- Bids: All bids placed are legally valid bids and are to be considered as bids from the bidder himself.
Once the bid is placed, the Bidders cannot reduce or withdraw the bid for whatever reason. If done
so, the seller will forfeit the EMD. The highest and the latest bid on the Auction shall supersede all the
previous bids of the bidder. Bidders may please note that in the event of a manual bid amount matching
that of an auto bid, the manual bid will prevail and be considered. The bidder with the highest offer/
bid does not get any right to demand acceptance of his Bid.

4.0- Contract Validity – The contract is valid 3 Months from the date of Online

Auction.5.0- Payment

5.1-All payments shall be made in the form of Demand Draft/Pay order issued by any Scheduled
/ Nationalized Bank /Scheduled Co-operative Banks in favor of “MARATHON ELECTRIC
INDIA PRIVATE LIMITED.
5.2- In case of failure to do so, it will be construed that the buyer is not interested in the purchase
and EMD will stand forfeited

6.- Taxes, Duties & Levies

6.1- All taxes, GST, duties on sale as levied by Central/State Govt./ Statutory Bodies/Municipal
Authorities etc. as applicable shall be borne by and paid by the buyer.

6.2- If the buyer claims any exemption/concession under any State Sales Tax Actor under the Central
Sales Tax Actor any other enactment, such buyer shall be required to furnish their registration number
and/or declaration in appropriate Forms before lifting of material.

6.3- Exemption, concessions shall be admissible subject to the prescribed forms furnished by the
successful bidder/s being acceptable to the appropriate Sales Tax and other concerned authorities as
the case maybe.

6.4- Sales declaration forms for availing concessional Sales Tax are to be furnished in advance. In
the absence of the required declaration forms, sales tax at the full rate will be charged.

6.5- Income tax (TCS) as applicable shall be deducted at source. Party may submit self- declaration
forms (27C) or “NIL” tax certificate from IT department for exemption.

7.0- Description of Materials & Quality and Quantity

7.1- Numbers, quantities or tonnage or natures 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 or guarantee shall be implied.
7.2- The quantity indicated in the list is only an estimate for calculating amount of deposits required
to be paid by the bidder and has nothing to do with the quantity of material that may be available. The
quantity of material may vary considerably. However, since the paramount interest of the company
is to get the area cleared, the successful bidder will have to remove the entire quantity whether these
are far beyond the limit of approximation indicated or much less than the approximation indicated
within prescribed time.

7.3- The description given in the enclosed list is in brief. Offers by the bidders will be deemed to
have been made on the understanding that intending bidders have satisfied themselves fully in
regards to the nature, condition, quality of goods upon an 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
nor will any such claim be entertained by the Seller.

7.4- The Seller shall be under no obligation to put the lots singly or serially or in any other
particular manner and the Seller reserves the right at its discretion to withdraw any lot at any
time during the auction without assigning any reason thereof. The Seller may refuse to accept any
bid from any person/persons without assigning any reason for such refusal.

7.5- If any other metal is found in lot while effecting delivery, the same shall be treated as
Seller’s property. The successful bidder shall not lift from the lots any such pieces and shall have
no claim to the same or ask for any compensation on account thereof. For more details please
read the mode of dispatches carefully.

8.0-DELIVERY

8.1- On receipt of full Sale Value along with applicable ED/VAT/ Sales Tax/TCS &other Charges
by the Seller, the Seller will issue final Sale/ Delivery / Release Order to the Buyer thereby
enabling him to lift the materials within lifting period mentioned in the catalogue.

8.2- Lifting of materials will be allowed only between 9:00 A.M. to 04:00 P.M. on all working
days. Successful bidders should ensure that the material clearance is as per the seller’s instructions.
Neat and clean maintenance of the stockyard from where the material is lifted is the responsibility of the
successful bidder. In the event ofnon-adherence to the above by the successful bidder, seller will
reserve its rights to impose penalties/forfeiture of EMD and other payments collected. Weight recorded
at the seller’s premises shall prevail.

8.3- In case seller is unable to deliver the goods within the specified time due to unforeseen administrative
reasons, then the seller shall grant suitable extension of delivery period to the Buyer without any
penalties till the expiry of such extended period. In such eventuality, however, the Buyer shall not
be entitled to claim any compensation for such delay.
 "In our e-Auctions, SUCCESS Speaks louder…"

8.4- If the goods sold or portion thereof remain un-cleared in the

premises of the seller beyond the stipulated period, the sales proceeds of the
un-lifted assets shall be forfeited and the un-lifted portion of the assets may
be removed at the risk and cost of the buyer.

8.5- While taking delivery of the material, it will be at the discretion of

the seller or its authorized representative to direct the manner / order in
which the materials or lots shall be removed. No segregation of the items
of any lot is allowed inside the seller’s premises.

8.6- Breaking/ cutting may be allowed to the extent necessary for

facilitating loading into vehicles as per the discretion of the seller. No gas
cutting Equipment’s or any equipment, which are likely to cause damage,
will be allowed in the premises. Only safe oxy-acetylene gas cutting
equipment will be allowed with permission of seller. The decision of the seller
or his authorized representative shall be final in this regard.

8.7- The buyer shall arrange for all tools and tackles, forklifts and hoists or
cranes or labor at their own expenses.

8.8- It will be successful purchaser’s responsibility to weigh the empty Truck

at the weighbridge and produce the weight certificate so that the weight
of the empty truck will be deducted from the weight of the fully loaded
truck.

8.9- Should the original purchaser wish to take delivery of the surplus material
through a representative, he must authorize the latter by a letter of
authority or continuing authority, which shall be presented to the seller. The
seller may in his entire discretion decline to act on any such authority and it
shall be for the purchaser to satisfy the seller that the authority is
genuine. Delivery to such authorized person will constitute valid delivery
and no claim shall lie against the seller on any account thereafter.

8.10- Once the goods / materials are taken out of the factory gate, purchaser
will be solely responsible for all sorts of claims like shortage, missing parts,
damage, incident, accident, loss of material etc.

8.11- Resale will not be recognized. The purchaser shall not be entitled to
resell any lot or part of a lot while goods are still lying within the premises
of the seller and no delivery would be effected by the seller to any person
other than the Purchaser whose names are mentioned in the sale
order/Delivery order.
8.12- Purchaser and his men are subject to the security rule of seller in force
while in the seller’s premises. The purchaser/s, their workmen agents or
representatives shall not commit any nuisance, theft or indulge in any
antisocial activities in the seller’s premises and the purchaser shall be
liable for the good conduct, safety &discipline of his workmen. In case of
any such activity, delivery will be suspended and strict action as per law

Page 12 of 14
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2000"
 "In our e-Auctions, SUCCESS Speaks louder…"

will be taken including forfeiture of EMD.

8.13- While taking delivery of the material, the Purchasers shall be

responsible for any damage that may be done to premises / fittings of the
SELLER in the course of removing the lot or lots purchased by them.
The SELLER may at its option arrange to make good such damages
and the purchaser shall pay for the same on demand. If such payment
is not made on demand, the SELLER may forfeit the EMD/Security
Deposit or may stop delivery of the material till payment is made.

9. Governing Law and Jurisdiction

Any disputes with Global E-Auction are resolved in the manner as prescribed herein below
Arbitration, Governing Law & Jurisdiction.

9.1 Arbitration

Dispute or differences arising out or relating to this Undertaking /Agreement shall be

resolved amicably by the parties. Failing such amicable resolution of dispute / differences
either party may refer the matter to arbitration of a Sole Arbitrator to be appointed by the
Managing Director of Global E-Auction Private Limited. The Arbitration proceedings shall
be governed and regulated by the provisions of Indian Arbitration and Conciliation Act, 1996
and the rules framed there under along with amendment made thereto up-to-date. The award
of the Arbitrator shall be final, binding and conclusive on the parties. The venue for
arbitration shall be at Delhi.

9.2 Governing Law

This Agreement is construed and shall be governed in accordance with the laws of India
without giving effect to any principle of conflict of law.

9.3 Jurisdiction

The Courts at Delhi shall have exclusive jurisdiction.

“The participation in the E-Auction by any bidder confirms the acceptance of

all above terms and conditions and complete adherence to the same
contractually and legally. Additional Terms and Conditions from a Client for
an event will, as and when required, also form part of this acceptance.”

Page 14 of 14
"Global e-Auction --- A team of professionals as pioneers of e-auctions since
2000"