EDC LIMITED
( A Government of Goa Financial & Investment Corporation )
EDC House, Dr. Atmaram Borkar Road, Panaji – Goa
Telephone: Panaji 2220981/ 2224542
Fax No. 0832 – 2224938
Web.: www.edc-goa.com


INDUSTRIAL UNIT/PROPERTY FOR SALE
ON "AS IS WHERE IS BASIS”

M/S.

_____________________________________________________________
LOCATION :

PRODUCT :

MACHINERY :

LAND :

BUILDING
_____________________________________________________________

TERMS & CONDITIONS

1)The offers invited are for purchase of assets of M/s. -------

2)The Tenderers may give their offers for i) complete assets i.e. Land and Building, Plant and Machinery and/or separately for ii) Land and Building and/or (iii) Plant and Machinery. The tenders for individual machinery items will not be accepted. The Offers, which are found profitable by EDC LTD., shall be considered for acceptance and disposal.

3) Unit/Property will be available for inspection on working days between 10.00 a.m. to 5.00 p.m. with prior appointment on ---------- to -------------.

4)The Tenders should be accompanied by a Nonrefundable fee of Rs.500/- by Demand Draft in favour of EDC Ltd. payable at Panaji, Goa and Earnest Money Deposit (EMD) of Rs. ----- lakhs (Rupees ------ lakhs only) by Demand Draft in favour of EDC Ltd. payable at Panaji, Goa. The EMD will be refunded to unsuccessful tenderers without interest within three months from the date of opening of the tenders. If the offer is accepted by the Corporation and the successful tenderer does not come forward to accept the same or does not pay quoted amounts or tenderers do not keep tenders open for validity period, the amount deposited towards Earnest Money shall be forfeited. The tenders not accompanied by EMD or the fee will be rejected.

5)The tenders submitted shall not be withdrawn and shall remain valid for a period of three months from the date of opening of tenders.

6) The offers in the prescribed form in sealed covers should be superscribed as "Offers for purchase of assets of " M/s. ---------------- " and submitted to the EDC Ltd., Dr. Atmaram Borkar Road, Panaji, Goa, 403 001 on or before 1.00 p.m. on --------------. The Tenders will be opened at 2.30 p.m on ------------ in presence of tenderers who should remain present for Auction thereof.

7)The offers should be on cash down basis subject to following terms and conditions.

8) The successful tenderer on cashdown basis will have to pay 30% of the accepted offer price within 10 days of date of letter of acceptance of the offer and balance 70% within one month from date of letter of acceptance. In case of default in payments of above amounts, the amounts paid may be forfeited by the EDC Ltd. and acceptance cancelled. Without prejudice to above, the EDC Ltd. may levy interest on delayed payments at the rate of 14% per annum; however, in no case delay in payment of more than three months would be acceptable.

9) The statutory dues if any will have to be settled and paid by purchaser independent of its offer. The EDC Ltd. will not be responsible for paying such dues. Sales tax, Stamp duty/Registration charges, Transfer fee etc. in transaction, if any, will be borne by the purchaser. The EDC Ltd. will also not be responsible for paying Electricity and water charges arrears if any at the unit. It would be responsibility of the tenderers to check the past dues of various authorities, bodies, and departments & also transfer fee etc. of GIDC and its applicability.

10)The rates shall be quoted in words as well as in figures. Incase of discrepancy between the two, the rates in words will prevail over the figures.

11) The tenderers are required to sign on all the pages of tender form, which should be completed in all respects and submitted as an offer.

12) Tenders with conditional offer will be treated as invalid by EDC Ltd.
13)The Tenderers are required, to verify the area of land & building, Number of items/quantity of plant & machinery etc. at the unit, their conditions etc. to their satisfaction before submitting the tender. The machinery items at the unit could defer from the list attached herewith or displayed on website. The Tenderers should base their quotations based on existing conditions and the number/quantity at the site, in respect of machinery at site.

14) The EDC Ltd. reserves the right to accept or reject any offer/offers without assigning any reason/s. In case, all the offers are rejected, the discretion either to hold negotiations with any of the tenderers or sell the property through private negotiations with any of the tenderers or other party/parties shall be with EDC Ltd.

15) The property is being sold on "As is where is “ basis.

16)The EDC Ltd. will execute transfer documents only after entire accepted offer amount is received. The transfer documents will be only as per the draft prepared by EDC Ltd. The successful tenderers shall necessarily execute transfer documents within 30 days from date of communication from the EDC Ltd. requesting for such execution. It is brought to the notice of the Successful Tenderer that in case of failure to execute the Deed of Assignment and Sale, the Equity of redemption exists in favour of the original Mortgagor, and the same will be extinguished only on execution of Deed of Conveyance, which the successful Tenderer may please take note of.

17)The tenderers are required to submit their tenders separately for different units.

18)Permissions, Approvals, Consents etc., from Electricity Department, PWD, or any other authorities if required will have to be obtained by the purchaser in connection with this sale.

19) The successful tenderer shall remove the plant & machinery from the unit within 15 days from the date of communication by the EDC Ltd. requesting to remove the plant & machinery.(In case only plant & machinery is being sold)

20) The acceptance of any Bid under the Tender is however subject to EDC Ltd. calling for matching offers/Higher offers from the Original Borrower or its Directors/Promoters/ Guarantors as the case may be,(through third party backed with Earnest Money Deposit) as required under Statute. In the event of no response or non-receipt of matching offers, it shall be entirely at the discretion of EDC Ltd. to take recourse to condition No.14 stipulated hereinabove. In case such matching or higher offer is received, another auction would be conducted between party with such higher offer and the party whose bid has been accepted by the EDC Ltd.

21) The status of dues or liabilities(present or future) in respect of electricity dues, rent, local taxes, water charges, transfer fee, etc. would be provided by the EDC Ltd if approached by the tenderer and if available with the Corporation, without any responsibility as to its correctness or authenticity thereof. The tend3erer shall be at liberty to ensure the same at its end with concerned authorities/bodies and departments, etc. The payment of all such dues and liabilities shall be the responsibility of the Tenderer/Purchaser.

EDC LIMITED
PANAJI - GOA

TENDER FORM

1)Name of the tenderer and :
address, telephone nos.
(In case of Company, firm
the names of Directors
and Partners as case be
should be given)

2)Date of advertisement with :
name of newspaper

3)Location with name of :
the unit.

4)If tender is for entire :
property advertised. ( If
not mention the items for
which tender is being
submitted).

5)Amount quoted. ( the offer
should be for cash down basis).

To,
EDC LIMITED
EDC HOUSE, 1st FLOOR
DR. ATMARAM BORKAR ROAD
P.B. NO. 275
PANAJI – GOA – 403 001

We, the tenderer aforesaid do hereby agree and confirm to the aforesaid conditions of tender. We further agree that if we fail to purchase the property after acceptance of our tender, the Earnest Money and further amount paid by us would be forfeited by EDC LIMITED and we shall have no right to claim refund of the same.

 

SIGNATURE OF BIDDER

ADDRESS :

TELEPHONE NO:
DATE: