The existing Annexure A, appended to the said rules shall be substituted by the following, namely:- "Annexure -A.
(see rule 14) The following procedure shall be adopted for sale of plots by public auction:-
(a) Wide publicity of the auction shall be given by publishing the notice of auction in Newspapers describing the plots proposed to be sold together with their dimensions and area so completely that the description may enable their identification and by notifying the date and time of auction and the conditions thereof:
Provided that the plots having value more than Rs. 100 lacs shall be put for E-auction.
(b) The Bid start price shall be fixed by the Trust before advertising the notice for auction, on the recommendation of a Committee constituted by the Trust. The Committee shall consider all factors including market scenario in its recommendations.
(c) Auction shall be held by an Auction Committee constituted by the Trust.
(d) The Conditions of bidding shall be displayed on the website/portal of trust/department before the commencement of auction:
37 राजस्थान रराज-्र,सितम्बर20,2019 भाग6(ख)
Provided that the auction shall not be cancelled merely on account of participation by the single prospective bidder.
(e) Every bidder shall be required before being permitted to bid in auction to deposit an earnest money (in short EMD) @ 2% of the bid start price of the plot which shall be refunded to him at the close of the bid or adjusted against premium in case of successful bidder.
(f) In case auction fails and no person participates in the bid due to higher Bid Start Price, the Bid Start Price shall be re-fixed by the Trust or a Committee authorized by the Trust in this behalf. The Bid Start Price shall be revised after taking into the consideration of unsuccessful auction attempts and prevailing market trends.
(g) Proceeding shall be drawn up stating the name of every bidder and the amount for which he bids.
(h) The highest bidder shall be required to deposit 15% amount of his bid within three working days from the date of auction. In case of failure to deposit the said amount within prescribed time limit, the EMD deposited by the bidder shall be forfeited and auction of land shall automatically stand cancelled.
(i) The bid shall be subject to the sanction or rejection within 5 working days from the date of auction and demand note shall be issued within 2 working days from the date of sanction of the bid.
(j) The bid shall be subject to the sanction of the Chairman of the Trust in whom the rights are reserved to accept or reject any bid without assigning any reason thereof:
Provided that if there arise difference of opinion between the Chairman and the Secretary regarding acceptance or rejection of the bid, the matter shall be referred by the Secretary to the State Government within 15 days from the date of auction.
(k) After acceptance of the Bid the successful bidder shall deposit 35% of the Bid amount within 120 days from the date of Auction. If bidder fails to deposit 35% amount within 120 days, after expiry of above period bidder may deposit due amount in next 60 days or within extended time period as per provisions of clause (l) along interest at the rate of 15% on remaining amount from the date of auction.
(l) Successful bidder shall deposit remaining 50% of the Bid amount within 180 days from the date of Auction. If bidder fails to deposit 50% amount within 180 days, after expiry of above period bidder may deposit due amount in next 90 days along interest at the rate of 15% on remaining amount from the date of auction.
(m) If the successful bidder deposit the full amount within 15 days from the date of demand note, he will get 1 % rebate of the bid amount.
(n) In case of failure to deposit the amount within the extended time period, the 15% amount initially deposited shall be forfeited and auction of the land shall automatically stand cancelled.
(o) Attempt shall be made to ensure that rings are not formed.
(p) The auction committee may at any time cancel the bid if it is found that the bid is not fair and transparent."