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Detailed Terms & Conditions Auction Sale
CPIO under RTI Act




Detailed Terms and Conditions of Auction Sale of Immovable Property by the Recovery Officer


1.                   The Bids should be submitted only in the prescribed form.

2.                   Bid Forms along with detailed terms and conditions of sale can be obtained from the Registry of the Tribunal on payment of Rs.1000/- (Rupees One thousand only) (non refundable) by way of DD in favour of Registrar, DRT-2, Chennai.

3.                   If the auction is held outside Chennai, the Bid Forms along with detailed terms and conditions can be obtained on payment of Rs.1000/- (Rupees One thousand only) (non refundable) by way of DD in favour of Registrar, DRT-2, Chennai from DRT representative on the day of auction at the venue of auction before 11.00 A.M. (This condition has since been modified and is published in the sale proclamation as, “ Bid Forms along with detailed terms and conditions can be obtained on payment of Rs.1000/- (One Thousand only) (non refundable) by way of DD in favour of Registrar, DRT-2, Chennai either from Registry of the Tribunal until a day prior to date of auction or from DRT representative at the venue of auction before 11.00 A.M. on the day of auction”)

4.                   Bid Forms obtained prior to the date of issue of sale proclamation shall not be accepted.

5.                   The Bid Forms should be submitted only in the sealed cover provided with the bid form duly superscribed with DRC No, DRC Year, Date of Auction, Item No of property for which bid is submitted and Name(s) and Addresse(s) of the Bidder(s). 

6.                   The Sealed covers containing Bid Form should be dropped along with the following documents in the box kept in the Tribunal before the date and time stated in the sale notice published in the Newspaper.

a)   Demand Draft for a sum equal to 10% of the Upset Price drawn in favour of “The Recovery Officer, DRT-II, Chennai (DRC No.____)”  towards EMD.

a)      Photocopy of any Photo bearing Identity card. (Please refer condition No.8)

b)      Letter of Authority in case the bidder is participating in the auction on behalf of others or jointly with others.   Letter of authority should be signed by all the Bidders and should bear their complete names, parentage and addresses. 

7.                   If the auction is held outside, the Bids should be submitted to DRT representative along with the documents specified in para 6 above before the date and time mentioned in the sale notice published in the Newspaper.    

8.                   Copy of any one of the following documents will only be accepted as ID proof.

a)      Voters ID card issued by Election Commission of India

b)      PAN Card

c)      Ration Card carrying Photo/Name of the Bidder

d)      Valid Driving licence

e)      Any other Government ID Card carrying photograph of the holder/bidder.

9.                   Incomplete/unsigned bids/without proper EMD and bids received after stipulated date and time will be summarily rejected.

10.               If there is more than one item of property for auction, separate Bids should be submitted in respect of each item of property.

11.               Only one bidder will be allowed to participate in the auction. If he represents others, he   shall produce authorization from other co-bidders. 

12.               If the intending bidder is unable to participate in the auction and desires to participate through his representative then he has to give an authorization letter to his/her representative in writing.   In case of Company/Firm, person participating in the auction should produce authorization from the Company/Firm signed by authorized signatory.

13.               No bidder shall be permitted to withdraw from the auction proceedings after submission of the completed bid form.

14.               EMD amount will be refunded to unsuccessful bidders by Demand Draft drawn in favour of bidder 30 days after the date of auction.  If the EMD draft is not collected within two days on expiry of 30 days, the same will be sent to the bidder/address given in the bid form by Registered Post.

15.               In the event of postponement/cancellation of auction after submission of sealed bids, demand draft(s) submitted by bidder(s) towards EMD will only be returned on the day of auction.

16.               Original photo ID must be produced by successful bidder for scrutiny immediately after the auction.  

17.               The properties will not be sold below the upset price specified in the Sale Proclamation/Notice.

18.               During auction, bidding will commence from the highest amount quoted in the sealed bids in multiples of amount fixed by Recovery Officer.  If there is no bidding in the auction and more than one bidder has given same bid amount which is not less than the upset price, the sale shall be concluded by draw of lots.

19.               The successful bidder should pay 25% of the bid amount (less the E.M.D.) immediately on the same day by DD in favour of Recovery Officer, DRT-II on sale being knocked down in his favour failing which the sale shall stand automatically cancelled and the EMD paid by the bidder shall be dealt with in accordance with the provisions of the Second Schedule to the Income Tax Act. 

20.               The balance 75% of bid amount plus poundage fees [@ 1% of bid amount+Rs.10/-], should be paid by Demand Draft in favour of Recovery Officer, DRT-II within 15 days unless extended for reasons to be recorded in writing.   If the balance amount is not paid within the stipulated time, the sale is liable to be cancelled and the amount deposited by the auction purchaser shall be dealt with in accordance with the provisions of the Second Schedule to the Income Tax Act. 

21.               The property is sold on “as is where is/on what it is/no complaint” basis condition.  Hence, statutory dues/Liabilities/Tax etc., due to Government/Local Body if any which might come to the notice of the auction purchaser after the date of auction shall be borne by the Purchaser.   

22.               The property can be inspected on the date and time specified in the sale notice published in the Newspaper.

23.               Prospective Bidders are advised to verify the copies of documents/title deeds available with the Bank to ascertain the correctness of the extent, dimensions, survey nos, boundaries, etc. before participating in the auction.  No request/application for cancellation of the sale shall be entertained after conclusion of the auction proceedings.

24.               In normal circumstances, the sale will be confirmed 30 days after the date of auction and the auction purchaser shall be issued with a Certificate of Sale.

25.               No request for inclusion of name(s) of any person(s) in the Certificate of Sale other than those furnished in the Bid Form can be entertained.

26.               Successful Bidder should submit copies of the following documents at the time of collecting the sale certificate

a)      A Passport size Photograph

b)      Address proof

c)      PAN Card/Photo Identity Card

27.               After collecting certificate of sale, Auction purchaser has to approach the Bank concerned for Original title deeds/Parent document in respect of the property.

28.               The successful bidder should bear the charges/fee payable for conveyance such as Registration fee, stamp duty etc as applicable as per law.

29.               The Recovery Officer has the absolute right to accept or reject a bid or postpone/cancel the sale, without assigning any reason.


E-Auction procedures

Debts Recovery Tribunal-II, Chennai

4th Floor, Spencer Towers, No. 770A, Anna Salai, Chennai – 600 002.


DRC No._______/_________                                                                                                                      



1.         Name(s) of Bidder (in Capital)* :

2.         Father’s/Husband’s Name                     :

3.         Postal Address of Bidder(s)                   :



4.         Phone/Cell No. and                               :

            email ID

5.         Bank Account Details to which EMD amount should be sent      

            i)    Bank A/c. No.                                :

            ii)   IFSC Code No.                               :

            iii)   Branch Name                                 :                                  

6.         Date of submission of bid                       :

7.         PAN Number                                       :

8.         DRC & Property Item No.                    :

9.         EMD remittance details                         :     Date of remittance ________________________

                                                                              Name of Bank ___________________________

                                                                              Branch _________________________________

                                                                              A/c No._________________________________

                                                                              IFSC Code No._____________

12.         Photo ID enclosed                               :     Voter ID/PAN Card/Driving Licence/

(Tick which ever is applicable)                     Govt./PSU ID Card/ Photo page of Passport


13.        Bid Amount quoted                                :     Rs.________________ (Rupees_____________


            I declare that I have read and understood all the terms and conditions of auction sale and shall abide by them.   I also undertake to improve my bid by one bid incremental value notified in the sale notice if I am the sole bidder. 



(Signature of the Bidder)


* In case of multiple bidders, the details may be given in tabular form in a separate sheet. 


Debts Recovery Tribunal No.2, Chennai 

4th Floor, Spencer Towers, No. 770A, Anna Salai, Chennai – 600 002.


Detailed Terms and Conditions of Auction Sale


1.            Auction/bidding will be only through online e-bidding.

2.            Registration with Auctioneer Company for bidding in a e-auctioning as per the requirement of the Auctioneer Company.

3.            Bids shall be submitted online only.

4.            Bidders staying abroad/NRIs/PIOs/Bidders holding dual citizenship must submit photo page of his/her valid Indian Passport.

5.            Incomplete/unsigned bids without EMD remittance details will be summarily rejected. 

6.            In case of sole bidder, the bid amount quoted in the bid form must be improved by atleast one bid incremental value lest the sale should be cancelled/deferred.

7.            If any market-leading bid (bid higher than the highest at the point in time) is received within the last three minutes of closing time, the bidding time will be extended automatically by three minutes. 

8.            Highest bid will be provisionally accepted on “ subject-to-approval ” basis and the highest bidder shall not have any right/title over the property until the sale is confirmed.

9.            All intimations to bidders/auction purchaser will be primarily through e-mail by the service provider.  Date of sending e-mail will be considered as date of intimation.  If no intimation reaches, bidders are expected to take efforts to find out status from the e-auctioning Company.  Non receipt of intimation should not be an excuse for default/non payment.

10.        In case of more than one items of property brought for sale, the sale of properties will be as per the convenience and it is not obligatory to go serially as mentioned  in the sale notice. 

11.        Bidders are advised to go through the service provider’s portal/website also before participating in the auction.  Complaints if any against the e-auctioning company/service provider must be taken up with the Certificate Holding Bank only with whom an agreement/ contract by the e-auctioning company exists. 

12.        Highest bidder will be declared the successful bidder and intimation to this effect will be given through e-mail by service provider.

13.        In normal circumstances, sale will be confirmed after 30 days from the date of auction provided that full sale amount alongwith poundage has been remitted by the auction purchaser within the stipulated time and auction purchaser will be issued a certificate of sale. In case of pendancy of any Petition/ Appeal confirmation of sale is subject to the outcome of the Petition/Appeal.  

14.        In case of default of payment at any stage by the successful bidder/auction purchaser within the stipulated time, the sale will be cancelled and the amount paid will be forfeited fully.  

15.        Two or More persons may join together in submitting the bid and the sale certificate will be issued in their joint names. 

16.        No request for inclusion/substitution of names, other than those mentioned in the bid, in the sale certificate will be entertained.

17.        Sale Confirmation/Sale Certificate shall be collected in person or through an authorised person. For despatch by post, a request in writing must be sent to Recovery Officer,
DRT-II, Chennai alongwith a self addressed adequately stamped envelope. 

18.        There shall be no fresh sale notice if the sale is postponed for a period less than 30 days.

19.        Sale will not be confirmed if the defaulter satisfies the Recovery Officer within 30 days of the sale that the recovery certificate has been fully satisfied as per the Second Schedule to the Income Tax Act.

20.        In case of stay of recovery proceedings by higher judicial fora the auction may either be deferred or cancelled and persons participating in the sale shall have no right to claim damages, compensation or cost for such postponement or cancellation. 

21.        The purchaser may within 30 days of the sale, apply for setting aside the sale on the ground that the certificate debtor had no saleable interest in the property sold. 

22.        NRI Bidders must necessarily enclose a copy of Photo page of his/her Passport. 

23.        EMD amounts of unsuccessful bidders will be returned by NEFT/RTGS/Transfer to the Bank account details provided in the bid form.  

24.        Only copy of PAN Card, Passport, Voter’s ID, Valid Driving Licence or Photo Identity Card issued by Govt. and PSU will be accepted as the identity document and should be submitted alongwith the bid form. 

25.        Original Identity Document copy of which is submitted alongwith the bid form must be produced on demand.  

26.        Default of payment of 25% of bid amount (less EMD) on the same day and 75% of balance bid amount within the stipulated time shall render forfeiture of the amount already paid. 

27.        Statutory dues/liabilities etc., due to the Government/Local Body if any shall be borne by the purchaser(s).

28.        Bidders are advised to verify copy of title deeds and all related details like correctness of extent of the land, dimensions, Survey Nos., boundaries etc., before participating in the auction. 

29.        Successful bidder (Auction Purchaser) shall only contact the Certificate Holding Banks for parent title deeds and other document related to the property after the issue of Certificate of Sale by the Recovery Officer.

30.        Auction Purchaser shall bear the charges/fee payable for registration of the property as per law.

31.        Employees of Bank, DRT and the e-auctioning company and their relatives are barred from participating in the auction unless specifically approved. 

32.        All bidders shall be deemed to have read and understood the conditions of sale be bound by the conditions.