(1) The intending bidder shall deposit the earnest money, equal to ten percent of the reserve price and rounded by an amount of Rs. 10,000/-, in each case before commencement of open auction or deposited with the bid, as the case may be;
(2) In case of competitive bids invited through sealed tenders, the earnest money shall accompany the bid offers in the form of a Demand Draft drawn in favour of the Director;
(3) In the case of open auctions, the earnest money deposited by all bidders, save in the cases where the earnest money has been ordered to be forfeited by the Presiding Officer on grounds of any misconduct during the auction proceedings, shall be refunded immediately upon completion of the auction proceedings;
(4) In case the highest bidder fails to deposit 10% of the annual bid amount towards the ‘Initial bid security’, his earnest money shall be forfeited and such bidder shall not be eligible to participate in any such auctions/ competitive bids in respect of the same area or any other area in the State for a period of five years;
(5) No person, who is a defaulter of any mining dues in respect of any mineral concession granted in the past or any other current mineral concession and/or his family members, shall be eligible to participate in the auction or bid process. In case he is found to be in such arrears at any stage, his bid shall be revoked with forfeiture of the amount deposited by him. In case any of the partners of a Partnership Firm or a Director of a company participating in the bid/ auction process or any of their family members are found to be defaulters, the bidder firm/ company would be held ineligible and attract similar action:
Provided that where any injunction has been granted by a court of law or any other competent authority staying the recovery of any such amount, the non-payment thereof shall not be treated as a disqualification for the purpose of participation in the auction;
Public notice for inviting expressions of Interest/ bids/ open auctions.
Earnest money.
2030 HARYANA GOVT. GAZ. (EXTRA.), JUNE. 20, 2012 (JYST. 30, 1934 SAKA)
(6) The terms and conditions and other details of the auction shall also be read out by the auction committee headed by the Deputy Commissioner, or in his absence by the Additional Deputy Commissioner, of the district concerned in case of open auctions before commencement of the auction proceedings.