ALL CONTRACTS/TRANSACTIONS ENTERED INTO BY THE BUYER/BIDDER ARISING OUT OF THIS E-AUCTION SHALL BE GOVERNED BY THE INTEGRITY PACT AVAILABLE ON OUR WEBSITE, www.mstcindia.co.in

Bidders has to inspect the property before bidding and they has to satisfy themselves. For any assistance regarding property, bidders are instructed to contact LICI only. MSTC Ltd is mere an e-Auction Service Provider for the Seller i.e. LICI who has the ownership and physical possession of the property. Any dispute regarding property is to be represented to the Seller and not to MSTC LTD. Applicable Taxes and Other charges at the time of Delivery to be borne by the buyer.

Important Notes & Documents

1. Click Here for TERMS AND CONDITION FOR ALLOTMENT THROGH AUCTION OF 70 NOS VACANT FLATS AT JEEVAN BIMA NAGAR,MAITRI VIHAR, PHASE-II,CHANDRASEKHARPUR, BHUBANESWAR-751023,ODISHA , Self Declaration form (Needs to be upload using Upload Document link available in the buyers login)

2. Bidder has to submit Self Declaration form online using Upload Document link available in the buyers login on or before 10.04.2025 as per the prescribed format given in Terms and Condition(See point no.1 above). Without uploading documents buyers will not get access to submit online bids.

3. Click here for Occupancy Certificate

4. For property auction registration with MSTC, prospective buyers have the option to register themselves as buyers for 'Property Auctions.' Please note that a non-refundable, one-time registration fee of Rs. 1000+GST must be paid online

MSTC Contact Person:

1. Mr. Santanu Das, Assistant Manager(Operations), Ph.No: 9804984108 E-MAIL ID: santanudas@mstcindia.co.in

2. Mr. Sukhvinder Singh, MT(Operations), Ph: 8130027166 E-Mail:- sukhvindersingh@mstcindia.co.in

 

This E-Auction sale is governed by the
GENERAL TERMS & CONDITIONS (GTC),
BUYER SPECIFIC TERMS & CONDITIONS (BSTC) AND
THE SPECIAL TERMS & CONDITIONS (STC) of the e-auction.

In case of any conflict or difference among any provisions of GTC, BSTC & STC, the provisions of STC will supersede others in the particular e-auction.

1. E-auction bids are invited for sale of above items on "As is where is", "As is what is", "Whatever there is basis". Any quality/quantity issues will not be entertained post auction.
2. The word SELLER/PRINCIPAL wherever appearing means LIFE INSURANCE CORPORATION OF INDIA, Bhubaneswar or its authorized representative.
3. The word MSTC wherever appearing means the MSTC LIMITED, Chennai hereinafter referred to as SELLING AGENT OF SELLER.
4. The Word BIDDER wherever appearing means, firm or Company or any person duly registered with MSTC for the purpose which is interested in participating and purchasing the materials put up for sale in this e-auction.
5. The Word PURCHASER/BUYER wherever appearing means, firm or Company or any person duly registered with MSTC for the purpose, whose rate has been accepted by the SELLER/PRINCIPAL and the sale order has been issued in his/her favor.
6. The Auction Catalogue appearing on the day of e-auction under VIEW LIVE E-AUCTION will be final and may be downloaded.
7. E-Auction opening time, closing time, inspection schedule and other dates & times mentioned in the e-auction catalogue may be treated as (IST) Indian Standard Time only.
8. The Buyers/Bidders who are interested to lease the property under sub-lease through e-auction should get themselves registered with MSTC as buyer for e-auctions before commencement of e- auctions.
9. RATE: The Bidder shall quote/offer online their bids as per the UOM (Unit of Measurement) displayed during live auction. Rates submitted are exclusive of applicable levies. Applicable levies and duties during the pendency of the contract will be charged extra as ruling on the date of dispatch. Any increase/decrease in levies etc or imposition of any new duties & taxes by Statutory Authorities would be on the account of successful bidder(s) and payable by the successful bidder(s).

10. CONTACT PERSONS:

10.1. Seller/Principal Details: (LIFE INSURANCE CORPORATION OF INDIA/ Bhubaneswar) :-

1.Shri Gyanendra Tripathy (Executive Engineer),Mob.: 9437166051, e-Mail: engg.bhubaneswar@licindia.com, Office of the Chief Engineer, 3rd floor, Divisional Office, Bhubaneswar, 751020, Odisha, INDIA.

2.Shri B.B. Dash (Superidenting Engineering),Mob.: 9769058902,e-Mail: engg.bhubaneswar@licindia.com, Office of the Chief Engineer, 3rd floor, Divisional Office, Bhubaneswar, 751020, Odisha, INDIA.

10.2. MSTC LIMTED, Bhubaneswar, Address: MSTC Limited (A Government of India Enterprise), 2nd Floor, IPICOL House-Annexe Building, Bhubaneswar - 751022 , ODISHA
1. Mr. Santanu Das, Assistant Manager(Operations), Ph.No: 9804984108 E-MAIL ID: santanudas@mstcindia.co.in

2. Mr. Sukhvinder Singh, MT(Operations), Ph: 8130027166 E-Mail:- sukhvindersingh@mstcindia.co.in

11. The Auction catalogue displayed under view forthcoming auctions on MSTC's e-auction website is tentative and subject to change at the sole discretion of MSTC/Seller before the start of e-auction. Bidder(s) should, therefore, download the Auction Catalogue including material list and STC displayed in live auction floor for their record purpose, if required, and bid accordingly.
12. MSTC/Seller 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.

13. INSPECTION OF PROPERTY/DATE OF E-AUCTION:

13.1. For inspection of premises, the interested Bidders may contact the stock holder as per inspection schedule given in the Auction Catalogue.
13.2. The interested bidders on displaying MSTC e-auction Photo ID Card to the PRINCIPAL will be permitted to inspect the properties which are at respective places shown above in the presence of concerned Officer or designated contact person. Any clarification required may be sought by the Bidders from the PRINCIPAL at the time of inspection, and no dispute regarding the material or its physical conditions / location will be entertained post auction.
13.3. For inspection of premises, the seller/company name, date of commencement of inspection, name of contact official with their contact details are as mentioned above.
13.4. The buyer has to satisfy himself about the quality, quantity, duration (old or new) and conditions of the property before participating in the auction.
13.5. The auctioned premises are being sub leased on as is where is basis through e-auction..

PHOTOS OF PROPERTIES(IF ANY) MENTIONED IN ANNEXURE OF AUCTION IS STRICTLY FOR REFERENCE PURPOSE ONLY. BUYERS HAVE TO INSPECT THE PREMISES THOROUGHLY AND SATISFY THEMSELVES ABOUT THE NATURE ,AND CONDITION OF THE STRUCTURE,SERVICES ETC. OTHER PROPERTIES, IF ANY, BEFORE SUBMITTING THE BID. MSTC/PRINCIPAL WILL NOT BE RESPONSIBLE FOR ANY COMPLAINT IN THIS REGARD

14. MSTC/Seller reserves right to stop/postpone/cancel the e-auction at any stage without assigning any reason there for.
15. MSTC/Seller reserves right to modify/alter/cancel any of the above-mentioned Terms and Conditions pertaining to the e-auctions as and when required.
16. PAYMENT OF PRE BID EMD (if Applicable):

16.1.In order to participate in bidding for properties which require pre bid EMD, the bidder is required to have sufficient balance in the EMD wallet provided to the bidder for the purpose. A bidder can add money to its EMD wallet anytime through RTGS/NEFT mode only and by following the link Pay Pre Bid EMD link provided in the dashboard. Bidders in their own interest are advised to keep sufficient balance in their EMD wallet to bid in any auction and avoid any last minute hiccup. MSTC/Seller shall not be responsible for any delay in crediting of the money in MSTC s bank account due to any reason resulting in delay in updating the EMD wallet of the bidder.
16.2. After closing of e-auction, unsuccessful bidders can raise a request for refund of Pre Bid EMD using EMD Refund Request link and they can also check the EMD refund status under EMD LEDGER link available in bidder's login home page.

17. BIDDING PROCESS:

(i) The bid value shall be the basic price of the material exclusive of all applicable levies, Duties etc., quoted as per the Unit Of Measurement (UOM) in INR.
(ii) Each e-auction lot is a separate entity for bidding. Bidders have to bid separately for each e- auction lot.
(iii) Auto Extension: E-Auction period will normally be of 4(four) hours duration subject to automatic extension. If any bid is received during the last 8 (eight) minutes before scheduled close of auction for any lot, its close time will get automatically extended by 8 minutes from the time of last bid in order to give equal opportunity to all bidders. Bidding will close for a particular lot either at the scheduled close time or a period of 8 (eight) minutes during which no bid has been recorded, whichever happens later.
(iv) Bid Increment: During normal and in the extended period of e-auction, bidders can increase bid minimum by Rs.10000/-(Ten thousand)/UOM or in multiple of Rs.10000/-(Ten thousand)/UOM or according to the minimum bid increment amount specified in STC.
(v) Auto bid facility: In the e-auction, a bidder may give instruction to the computer to increase his bid by a fixed amount by clicking on the Auto bid button. Once the bidder clicks on the Auto bid button, the computer will ask for incremental value and maximum amount he is willing to bid. The bidder has to fill up these values and submit.

(vi) In the auction floor, a bidder can be H1 for only a single LOT (considering multiple LOT in a single auction). The same bidder cannot be H1 for another LOT during the same instance. In any instance, a non-H1 bidder can bid or outbid on any LOT, and the system will restrict the H1 bidder from bidding or outbidding on any LOT.

18. SELLER/MSTC will not provide any computer terminal to bidders to submit their bids.

19. The buyer(s) should not transfer the offer awarded to him/her/them to others and also no sub-lease is allowed. In case of deviation of any of the e-auction conditions, the offers shall be cancelled besides forfeiting the deposit amount and imposing penalty as decided by SELLER or its authorities.

20. E-AUCTION 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 must be made accordingly.

21. It is the responsibility of the bidder to verify the status of his bids and pay the post bid EMD accordingly.

22. ARBITRATION/ LEGAL JURISDICTION Only the Courts in Bhubaneswar shall have the exclusive jurisdiction to entertain any dispute connected with the arbitration proceedings or any other matter or claim arising out of or in connection with the e-auction.

(i) 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.
(ii) 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 without specifying any reason thereof.
(iii) MSTC Ltd is mere an e-Auction Service Provider for the seller who has the ownership and physical possession of the material. Any dispute regarding quantity, quality and delivery of the materials are to be represented to the Seller and not to MSTC LTD. Applicable Taxes and Other charges at the time of Delivery to be borne by the buyer.
(iv) 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.

NOTE: GST rates as indicated in this e-auction catalogue are only indicative. Actual GST rates as applicable on the last date of delivery order shall be applicable. Bidders are required to satisfy themselves about GST rate through their own sources/means before bidding in this e-auction and any discrepancy should be intimated to MSTC / Seller at least one working day prior to the e-auction. No complaint from any bidder thereafter, regarding any variation will be entertained after the e-auction goes on live floor. Nonpayment of sale proceeds on the ground of any discrepancy of GST rate will be treated as default and action as deemed fit including but not limited to forfeiture of EMD/SD will be taken against the bidder.