E AUCTION
Avaada Energy gets 820 MW hybrid project from SJVN
Avaada Energy announced on Monday that it has secured an 820-megawatt hybrid project from state-owned power producer SJVN. This achievement came through an e-Reverse Auction process.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
Maiki South Mining secures India's first Lithium and REE blocks of Chhattisgarh with FPO of 76.05%
On Monday, Union Minister G Kishan Reddy granted the first Lithium block, Katghora, and the Rare Earth Element (REE) Block of Chhattisgarh to Maiki South Mining Private Limited, with a Final Percentage Ownership (FPO) of 76.05%. India currently depends significantly on imports to fulfill its demand for crucial minerals such as Lithium, Niobium, and Rare Earth Elements (REE). These minerals are essential for emerging technologies like electric vehicles, pharmaceuticals, and defense manufacturing.
Sebi modifies duration for call auction in pre-open session for IPOs
During the pre-open call auction for some IPOs and relisted stocks, unusually large orders were placed at inflated prices, only to be cancelled shortly before the session closed. This pattern suggests potential market manipulation. In order to curb the misuse of the call auction session, Sebi has decided to modify the current provisions related to call auction sessions for IPO and relisted scrips and introduce additional surveillance measures at stock exchanges.
Haryana Cabinet approves new excise policy; slight increase in duty on liquor
The maximum basic quota of IMFL will be 700 lakh proof litres and 1,200 lakh proof litres for the country liquor for the year 2024-25. The QR code-based track and trace system that was introduced in 2023-24 for IMFL and country liquor will be extended to imported foreign liquor as well, said the statement. The minimum retail sale prices of imported liquor brands will be fixed by the department to streamline the business, it said.
Indian Overseas Bank adopts multi-pronged approach to ensure recovery from NPA accounts
Indian Overseas Bank successfully reduces Gross NPA to 3.90%. Sale announced for 92 NPA loans totaling Rs 13,471.68 crore. Recovery strategies include Securitisation, Compromise Settlement, Asset Reconstruction, with e-auction on May 28, details on www.iob.in.
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RBI announces auction sale of Govt. securities of Rs 32,000 crore
The Reserve Bank of India has announced the auction for the sale of Government Securities worth Rs 32,000 crore. The auction is scheduled to take place on Friday and it aims to facilitate the sale (re-issue) of Government Securities through a multiple price-based method.
Centre seeks SC clarification on if it could allocate airwaves without competitive action to address 'unanticipated' priorities
The government sought SC clarification on administrative allocation of airwaves, proposing it for state priorities like national security or when auctions aren't viable due to techno-economic reasons. Referencing SC and Presidential directives, it highlighted spectrum's diverse uses beyond commercial telecom, advocating for flexibility in allocation methods.
Sebi to auction 22 properties of Rose Valley Group on May 20 to recover investors' money
A committee would oversee sale of the assets and the money will be utilized for repaying the investors. The committee was formed following an order passed by Calcutta High Court in May 2015.
Department of Telecommunications delays spectrum auction to June 6 amid general elections
The Department of Telecommunications (DoT) has postponed the spectrum auction to June 6 from the initial date of May 20 due to the ongoing general elections. The decision came after telecom operators requested a delay until after the election results are declared on June 4. Additionally, the mock auction has been rescheduled to June 3.
Assam urges Centre to consider deferring enforcement of sale of 100% dust grades tea through auction
"We urge you to issue appropriate orders on priority, keeping in mind the best interests of the tea industry in Assam and, more importantly, the welfare of small tea growers and associated stakeholders. Your prompt action in this regard will be highly appreciated."
Tripura Chief Minister Manik Saha laid the foundation stone of state’s first tea auction centre
After laying the foundation stone of the proposed tea auction center, the Chief Minister said on the X: “A leap towards development of tea industry in Tripura. Today laid the foundation stone of Agartala Tea e-Auction Centre was laid at Gurkhabasti complex. This will largely benefit the tea growers of the State & take Tripura tea to new heights”
SJVN Green Energy bags 200 MW solar project
SJVN Green Energy, a subsidiary of SJVN Ltd, has won a 200 MW solar project in an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam. The project will be developed on a build-own-and-operate basis at a cost of Rs 1,100 crore in the Gujarat State Electricity Corporation Limited (GSECL) Solar Park at Khavda, Gujarat.
Government sells 71 lakh tonnes wheat so far in open market to keep prices under control
The government has sold 71.01 lakh tonnes of wheat and 1.62 lakh tonnes of rice through auction in the open market to control prices. Wheat and rice are being offloaded in the market through weekly e-auctions since June 28, 2023. The central government has allocated 101.5 lakh tonnes of wheat and 25 lakh tonnes of rice for offloading under the Open Market Sale Scheme. The reserve prices for wheat are Rs 2,150 per quintal for Fair and Average Quality (FAQ) and Rs 2,125 per quintal for Under Relaxed Specifications (URS). The reserve price for rice is Rs 2,900 per quintal.
Delhi Diwali Special Housing Scheme 2023 : DDA's live e-auction of 2,093 flats today - Check details
The auction features super HIG, HIG, and penthouses in Dwarka, MIG in Dwarka Sector 14, and MIG in Loknayak Puram, totaling 1,130 luxury flats. The process, conducted in collaboration with SBI's e-auctioning bidding platform, involves specific timings for different categories to ensure efficiency. The reserve prices range from Rs 1.1 crore to Rs 5 crore, with earnest money deposits varying based on the flat category.
Around 3.46 LMT wheat and 13164 MT rice were sold during 26th e-auction under OMSS
Cereal prices in November rose to 10.27% pushing the food inflation to 8.70% in November, against 6.61% reported the previous month. Food inflation accounts for nearly half of the overall consumer price basket. An increased acreage of wheat would help shore up government’s stocks, which are at a seven-year low, helping it in managing inflation as it gears up for the general elections in 2024.
Yamuna authority to auction plots for nursing homes, hospitals near the upcoming Jewar airport
In a strategic move, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched an e-auction for prime plots near the upcoming Jewar airport. The initiative includes plots for nursing homes, hospitals, maternity centers, corporate offices, and senior secondary schools. Interested parties can apply for plot acquisition until January 1, 2024, with the e-auction process set to conclude by February 29, 2024.
Supreme Court upholds e-auction of India’s tallest tower Palais Royale, paves way for completion
The Worli-based project started in 2007 and touted to be the most ambitious real estate project in the country, has faced numerous challenges over the last 10 years. Legal disputes and hurdles had cast a shadow over the 320-meter-high, 88-storey, tower, delaying its progress and raising concerns among investors and stakeholders.
Coal India's e-auction volume projected to double in H2FY'24
Coal India informed analysts that it aims to sell 15% of its production in the second half of the current fiscal (September 2023-March 2024) through e-auctions, which currently command a premium of around 90% over the Fuel Supply Agreement (FSA) price.
From Modi to you: 912 Mementos received by PM up for e-auction, starting at just Rs 100
In a generous effort to support the Namami Gange project, approximately 912 mementos presented to Prime Minister Narendra Modi are available for e-auction. The 5th round of this unique e-auction event began on October 2nd and will run until October 31, 2023. The impressive collection of mementos can be viewed at the National Gallery of Modern Art in Delhi. Don't miss your chance to bid, with the starting price set at just Rs 100.
PSBs told to speed up sale of defaulters' properties
The Indian finance ministry has requested state-owned banks to expedite the development of an advanced property auction platform and mobile app. Around 500,000 properties owned by state-owned lenders will be listed on the platform, offering bidders access to ownership details, photographs, videos, and other information. Currently, state-owned banks advertise properties for sale, but they often go unnoticed.
Good response to e-auction of mementos, gifts given to PM Modi: Union Minister Meenakshi Lekhi
The e-auction of mementos and gifts given to Prime Minister Narendra Modi has been receiving a positive response, according to Union Minister Meenakshi Lekhi. The auction, which aims to raise funds for the 'Namami Gange' Programme, has items such as a statue of Ram Darbar, a model of the Golden Temple, and a souvenir of Jerusalem. Lekhi encouraged more people to participate as the auction ends on October 31. In previous editions, over 7,000 items were auctioned, and this time there are 912 items available.
DDA announces mega auction for prime plots, mobile tower, CNG pump site. Here are all the details
Delhi Development Authority (DDA) has announced an e-auction for 453 properties, including institutional, industrial, and residential plots. The plots are classified into 12 categories and have no legal complications. The registration process for prime plots is open until November 6, and the e-auction will be conducted on November 7, 8, and 9.
TRAI seeks stakeholders' views on assigning E-band, V-band spectrum via auctions
In the paper, issued Wednesday, the regulator has also sought views on the overall scope of services/usage of E & V band spectrum resources as well as the charging mechanism if these are assigned via the administrative route. Separately, the Telecom Regulatory Authority of India (Trai) has also invited suggestions on whether any plans to assign E & V bands for space-based communications should be pushed back to a later date.
Centres sells 18.09 lakh ton of wheat in 13 e-auctions under OMSS to cool down prices
Wheat is being sold through weekly e-auction at a reserve price of Rs 2,125 per quintal, which is at par with the current minimum support price.
Punj Lloyd fails to attract any bidder in second round of e-auction
Debt-ridden engineering company Punj Lloyd has failed to attract any buyers in the second round of e-auctions conducted by its liquidator. The auction, conducted on the directions of the National Company Law Tribunal, had a reserved price of Rs 1,061 crore on a going concern basis. This comes after the company also failed to find buyers in the first round of e-auctions.
Is it safe to buy auction property? Six things a buyer need to keep in mind
An individual can buy a auction property (also known as distressed property) from a bank. The property will be auctioned and sold to the highest bidder. Before participating in the auction, the individual should keep certain things in mind. This is because an property is being sold in an auction because a borrower defaulted on the EMI payments.
Trials for Coal India's in-house e-auction platform successful: Officials
The mining major has entrusted its wholly owned subsidiary Central Mine Planning & Design Institute (CMPDI) to rollout the in-house e-auction system, with technical assistance from the National Informatics Centre.
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