Sale ID: D031/09/C001

Tender Cum AUCTION SALE

BY MURRAY & CO.,

Under Instructions from and at

At ADDISION & CO. LTD

No.4, Smith Road, Chennai – 600 002.

Auction on Sunday the 14^th March 2010 at 10.30 a.m.

Tender due before commencement of Auction

Note :

1. Inspection on 13.3.2010 from 9.00 a.m to 4.00 p.m and on 14.3.2010 from 9.00 a.m to 10.00 a.m

2. Quantities are subject to changes and changes if any will be announced at the time of auction.

3. The last date for payment : 20.03.2010

The last date for clearance : 24.03.2010

GENERAL CONDITIONS OF SALE :

1. The tender cum auction sale is conducted by Murray & Co., hereinafter referred to as the AUCTIONEERS, under instructions from ADDISON & CO. LTD. No.4, Smith Road, Chennai – 600 002 hereinafter known as the COMPANY.

2. Subject to realization of reserve price where the same has been fixed by the COMPANY, all sales shall be made to the highest bidder / tenderer. The COMPANY reserves the right to reject any or all bids in auction and/or all tenders without assigning any reason therefore

3. Acceptance or rejection of the bid will be notified after the auction is over and after opening of tenders. The COMPANY shall however be entitled to provisionally accept the highest bid/offer subject to subsequent confirmation by competent authority.

4. A person bidding on behalf of another person should produce a written authority from such person authorizing him to act on behalf of such person in all matters at the auction sale. In the absence of such authority, the bid/offer, if accepted, shall be registered in the name of actual bidder / tenderer and he shall be responsible to the COMPANY for any loss etc. which might acquire to the COMPANY as a result of his action without proper authority.

5. In the event of dispute between the bidders/tenderers, the dispute shall be decided by the Officer of the COMPANY superintending the sale and the lot or lots in question re-sold at his discretion and his decision shall be final and binding on all persons offering bids/tenders at the sale.

6. The goods are sold as and where they lie. The whole of the goods shall be taken from the Company with all faults and errors in description or otherwise. Quantities, qualities, sizes, measurements, number and weights as stated in the catalogue are approximate and no warrantee or guarantee shall be implied. The sale is strictly on the assumption that bidders have inspected the items and know what they are buying whether they have first inspected them or not and the “Principle of Caveat Emptor” will apply. No complaint will be entertained subsequent to the bid/tender being provisionally accepted by the COMPANY.

7. The goods shall be and remain in every respect at the risk of the buyers from date of acceptance of his offer / bid and the COMPANY shall not be under any liability for safe custody or preservation thereof from that date of final removal.

8. Tenderers / bidders whose offers / bids have been accepted by the COMPANY shall be the purchasers.

9. The purchasers shall pay the balance value, after deducting the EMD (unless otherwise announced prior to the sale), at the Office of the AUCTIONEERS by Demand Draft / Pay order favouring Murray & Co., drawn on any Scheduled Bank payable at Chennai or on before 20.03.2010. In case of lots taken subject to confirmation by the COMPANY, the balance value should be remitted in the manner indicated within 6 days from the date of acceptance. Non-receipt of or late receipt of the letter of confirmation shall not be an excuse for delayed payment.

10. If the purchaser fails to pay the amounts as stipulated, the COMPANY may, at their discretion grant permission to the purchaser to remit the balance sale value for a further period upto the last date of delivery of stores subject to payment of compensation charges of 0.25% on the balance sale value per day of default.

11. In the event of failure to complete the payment of balance sale value of any lot within the stipulated period, the sale of such lot shall be cancelled, the EMD paid shall be forfeited and the lot shall be re-sold as and when the COMPANY thinks best without any notice to the purchaser. In the event of such a re-sale, the purchaser shall not be entitled to any profit but shall make good any loss incurred by the COMPANY including the cost of storage, warehousing, removal of the lot and any expenses, incurred in connection with the re-sale.

12. VAT as per TNVAT Act and Excise duty, if any in force at the time of delivery should be paid extra and the amount of VAT and Excise duty should be paid along with the balance amount. Where the purchase price is paid in full at the time of auction, the Excise duty & VAT should be remitted within the time allowed for payment.

13. After payment of the entire consideration, the goods sold should be removed by the purchaser, at his cost, from the company on or before 24.03.2010. Delivery will be permitted only during working hours on all working days after payment of the amounts payable. Purchaser should fix up with Addison & Co. Ltd., before placing his vehicle for delivery. Delivery should be taken as per schedule provided by Addison & Co. Ltd., in the event of the purchaser failing to schedule delivery, his vehicle if placed without scheduling, is liable to be returned.

14. The purchaser will make his own arrangements for transport and he will not be entitled to claim any facilities or assistance for transport from the COMPANY.

15. Normally, all delivery documents shall be prepared by the COMPANY only in the name of the original purchaser. The COMPANY may at its discretion consider requests from the original purchaser to raise delivery documents in favour of any other company or individual. Such requests shall be in the form as required by the COMPANY. The person(s) in whose favour the original purchaser seeks to have the delivery documents shall indicate in writing his acceptance to the same and also indicate his agreement to all the conditions of sale. The original purchaser can however not retract such a request once lot. The COMPANY may decline to act on such requests and in such cases all documents will be issued only in favour of the original purchaser.

16. Should the original purchaser wish to take delivery of the stores purchased by a representative he must authorize the latter by a letter of authority, which shall be presented to the COMPANY, may in their discretion decline to act on any such authority and it shall in all cases be for the buyer to satisfy the COMPANY that the authority is genuine. Delivery by proxy will be at the purchasers sole responsibility and risk and no claim shall be against the COMPANY or the AUCTIONEERS on any account whatsoever if delivery is effected to wrong persons.

17. The purchaser shall clear the entire lot as it is and shall have no claim against the COMPANY or against the AUCTIONEERS, for refund of the whole or any part of the purchase money for claims that the lot or lots are deficient in quantity, quality, size, measurement and number.

18. If any of the lots are not removed within the time specified, the COMPANY may at its discretion permit the purchaser to remove the said goods or portions thereof within an extended period subject to payment of compensation charges at the rate of 0.255 per day, on the sale price of said goods of portion thereof remaining uncleared until final removal.

19. The COMPANY reserves the right to refuse permission to the purchaser to take delivery of the materials after expiry of the time permitted and in such cases, the amounts paid shall be forfeited to the COMPANY. In the event of such forfeiture, the COMPANY may sell the remaining materials in the said lot at its discretion by way of private treaty or public sale. The defaulting purchaser shall not be entitled to any profits that may accrue to the COMPANY by way of such re-sale but shall make good any loss that may be incurred.

20. The purchaser shall be responsible for any damage that may be caused to the COMPANY premises, while taking delivery or removing the goods bought by him for the purpose of taking delivery.

21. The COMPANY reserves the right of withdrawing from the sale any goods advertised in the catalogue prior to delivery or any bid for such lot/lots without assigning any reason.

22. Whenever any claim for the payment of a sum of money arises out of or under this sale against the purchaser, the COMPANY shall without prejudice to any other remedy be entitled to deduct such sum of money from the proceeds of resale under this contract or from any sum then due or which at any time thereafter may become due to the buyer under this or any other contract with the COMPANY and if this is not sufficient to cover the full amount recoverable the buyer shall pay to the COMPANY on demand the balance remaining due.

23. In the event of any dispute arising out of this sale, the decision of the COMPANY shall be final and biding on all the participants in the sale. By submitting tenders/offering bids in the auction, the bidders/tenderers shall be deemed to be in agreement with all the conditions of the sale.

24. The COMPANY reserves the right to alter any or all the conditions of sale and all pronouncements/announcements made during inspection/auction shall supersede the printed conditions of sale.

CONDITIONS FOR TENDER :

25. All tenders should be submitted by the due time where the same is indicated, or prior to commencement of the auction. Tenders shall not be received subsequent to the commencement of auction under any circumstances.

26. Tender covers may be handed over to the representative of Murray & Co., at the auction location before commencement of the auction. Tenders can also be submitted by post/courier but it will be the responsibility of the tenderers to ensure that their tenders reach the COMPANY prior to commencement of the auction. In the case of tenders submitted by post, the COMPANY/ AUCTIONEER shall not be responsible if the tenders do not reach the auction spot before commencement of the auction.

27. Offer should be indicated separately lot wise. Combined offers, conditional offers and counter offers will be summarily rejected.

28. All offers shall be made exclusive of duties and taxes, unless specifically called for in that manner.

29. All tenders should be accompanied by a tender deposit of not less than 25% of the total value of the offers by way of Demand Draft / Pay Order drawn on any Scheduled Bank payable at Chennai, favouring the Auctioneers. In the case of tenders handed over to the AUCTIONEER at the auction spot on the date of sale, the tender deposit can also be paid in cash.

30. The COMPANY / AUCTIONEER may sell the lots in a manner different from the way they are originally publicized for sale and in such an event the tender offers for those lots will not be considered.

31. The tenders received, will be opened after completion of the auction. The rates obtained in the tender will be compared with the rates received in the auction before taking a decision to accept or reject the tender. The tenderer shall not withdraw their tenders and the tender will hold good for a period of 15 working days from the due date for the tender.

32. If a tender is rejected, the deposit accompanying the tender will be returned without interest and no claim will be entertained against the COMPANY/AUCTIONEER. In the case of tenders submitted by post, the tender deposit will be returned only by post.

33. If the tenderer withdraws his offers : before finalization, the tender deposit will be forfeited to the COMPANY.

34. The COMPANY reserves the right to reject to any or all the tenders without assigning any reason therefore.

35. Tenderers can also participate in the auction. All the General Conditions of Sale and Conditions for Auction will also apply to the sale by tender and the tenderer is bound by those conditions. Tenderers shall be bound by any amendments to the Conditions or composition of the lots that are announced at the time of inspection / auction.

CONDITIONS OF AUCTION

36. Prior to commencement of the auction, the AUCTIONEER may demand a participaton deposit from all prospective purchasers and in such cases, the auction will be restricted only to those who remit the said participation deposit.

37. A cash payment or Demand Draft/Pay order drawn on Scheduled Bank payable at the Company, favouring the Auctioneers of not less than 25% (Twenty five percent) of the amount of the bid shall be made as Earnest Money deposit (EMD) on the fall of the hammer. The Auctioneers may however demand a higher percentage, upto the full amount of the bid, without assigning any reasons.

38. If the bidder concerned fail to pay ‘forthwith the earnest Money required, the sale shall stand cancelled and the goods re-auctioned and in such event the concerned bidder shall be liable to make good any losses suffered and expenses incurred due to or on account of the re-auction of stores and which would be without prejudice to the rights of the COMPANY to take such other auction in accordance with law. The defaulting bidder will be precluded from taking further part in the sale.

39. On completion of the auction, the tenders will be opened and compared with the highest auction bids before taking a decision on acceptance or rejection of the bids. Where any of the tender offers are higher than the highest auction bid, the deposit paid by the auction bidder will be returned without interest on the same day.

40. All the General Conditions of Sale and Conditions for Tender will also apply to the sale by auction and the bidders are bound by those conditions. Bidders shall be bound by any amendments to the conditions or composition of the lots that are announced at the time inspection / auction.

S.No	Description	Qty	Excise Duty%	VAT%
1	Used 500 KVA Transformer without oil 11 KV/433 Volts	1 No	-	4
2	Used 500 KVA Transformer without oil 11 KV/433 Volts	1 No	-	4
3	Used GEC 4 panel HT Oil Circuit Breaker 11 KV	1 No	-	4
4	Used Gefra Drill Fluting Machine	1 No	-	12.5
5	Used Investa Lathe	1 No	-	12.5
6	Used HH Centreless Grinder	1 No	-	12.5
7	Used WMW Drilling machine	1 No	-	12.5
8	Used Addison Tool & Cutter Grinder	1 No	-	12.5
9	Used Addison Buffing Machine	1 No	-	12.5
10	Used Oliver Model Addison Point Grinder	1 No	-	12.5
11	Used Addison double head Flute Polishing Machine	1 No	-	12.5
12	Used Addison Thread Grinder	1 No	-	12.5
13	Used Dormer Model Addison Point grinder	1 No	-	12.5
14	Used Addison Split Point Grinder	1 No	-	12.5
15	Used Addison Tempering Furnace converted into Normalising	1 No	-	12.5
16	Used Addison Tempering Furnace converted into Normalising	1 No	-	12.5
17	Used Addison Surface Grinder	1 No	-	12.5
18	Used Addison Surface Grinder, Plant No.1083	1 No	10.30	12.5
19	Used Buffing machine	1 No	-	12.5
20	Used Dust collector 0.5 HP – 8 Nos (6 Nos. with Motor & 2 Nos. without Motor)	1 Lot	-	12.5
21	Used 100 KVA Stabilizer – 1 No, 160 KVA Stabilizer – 1 No	1 Lot	-	4
22	Used Electrical panel of HF generator	1 No	-	12.5
23	Used Bench grinder	1 No	-	12.5
24	Used Addison Flute grinder (Polishing)	1 No	-	12.5
25	Used Wooden Furniture	1 Lot	-	12.5
26	Used Steel Office / Typist Table, Book Case & Cup Boards	1 Lot	-	12.5
27	Used Plastic Moulded Canteen Chairs	1 Lot	-	12.5
28	Used Electrical Scrap – Fans, Pedestals, Light Fittings, etc.,	1 Lot	-	4
29	Used Air Conditioning Units – Window (9 Nos.) & Split (4 Nos.) – Total - 13 Nos.	1 Lot	-	12.5
30	Used Water Coolers – 2 Nos.	1 Lot	-	12.5
31	Used Stainless Steel Magnetic Candle, 1000 gauss, 38.6mm. dia, 1375mm. length.	1 No	-	12.5
32	Scrapped Aluminium Partition Materials	1 Lot	-	4
33	Scrapped Modular Furniture/Table Tops & Pedestal Units	1 Lot	-	12.5
34	Used Conditioned Electrical Cables & Wires	1 Lot	-	4
35	MS Fabrication Scrap – including ducting, pipes, etc.	1 Lot	-	4
36	Used Machine Beds – 2 Nos. Unused forging machine head -1 No.,& Lathe 4 jaw Chuck – 1 No	1 Lot	-	12.5
37	Used Monitor, CPU, Printers & Used Computer Accessories	1 Lot	-	4
38	Used Typewriters – 2 Nos.	1 Lot	-	12.5
39	Used Telephones, OHP, Weighing Machines, Calculators	1 Lot	-	12.5
40	Used Batteries – 16 Nos. (Intending purchasers have to purchase the lot only through tender. Auction bids will not be considered for this lot. Parties who possess Certificate from Central Pollution Control Board alone will be allowed to quote for the lot. Copy of the valid Central Pollution Control Board Certificate is to be attached to the offer by the tenderer)	1 Lot	-	12.5
41	Used 1 KV Voltage Stablizer & UPS	1 Lot	-	12.5
42	Used Motors – with & without Pump – 14 Nos.	1 Lot	-	12.5
43	Used Window Panes with Glass – 11 Nos.	1 Lot	-	12.5
44	Used HT Oil Circuit Breaker	1 No	-	12.5
45	Used Electrical Switch boards	1 Lot	-	12.5

MURRAY & CO.,

Govt.Auctioneers & Estate Agents

340 (Old No. 164) Thambu Chetty Street, Chennai – 600 001.

Phone: 044-25345201, 25345202. Fax: 044-25359083

E-Mail: enquiry@murrays.in

Web Site: www.murrays.in