ALTUM CREDO HOME FINANCE PRIVATE LIMITED - TERMS & CONDITIONS
1. The EMD (Earnest Money Deposit) Amount as mentioned above needs to be paid/deposited prior to the auction. Bidders not depositing the required EMD shall not be allowed to participate in the auction or shall be rejected summarily. The earnest money deposited shall not bear any interest. The amount of EMD paid by the successful bidder shall be adjusted towards the sale price.
2. During the auction, bidders will be allowed to offer higher bids in inter-se bidding over and above the last bid quoted and the minimum increase in the bid amount must be Rs. 10,000/- or Rs. 50,000/- to the last higher bid of the bidders.
3. The 15% amount of reserve price shall be paid/deposited within 24 hours of confirmation of auction sale through Demand Draft (DD)/any other payment mode, and the balance amount of the sale price shall be paid within 15 days from the date of confirmation of auction sale or any such extended time as may be agreed in writing. Failure to remit the entire amount of sale price within the stipulated period will result in forfeiture of deposit of 25% of the bid price and forfeiture of all claims over the property by the successful bidder, and the property can be re-auctioned.
4. The sale certificate will be issued in the name of the successful bidder only after realization of the entire sale price and other charges/taxes if any.
5. The successful bidder shall bear the charges/fees payable for conveyance such as registration fees, stamp duty, GST, etc., applicable as per law.
6. The authorized officer has the absolute right to accept or reject any bid or postpone or cancel the sale, as the case may be, without assigning any reason whatsoever.
7. The property is being sold on ?As Is Where Is,? ?As Is What Is,? and ?Whatever There Is? basis. ACHFL has disclosed only the known encumbrances, statutory liabilities, if any, as above, and it is for the successful bidder to make their own independent inquiries at their own cost before participation in the auction.
8. As regards the statutory liability stated above, ACHFL dues will have priority over statutory dues. Without prejudice to the above, statutory liability, if any, shall be borne by the successful bidder, and ACHFL assumes no responsibility in this regard.
9. Sale is subject to confirmation by the ACHFL.
10. This auction advertisement does not constitute and will not be deemed to constitute any commitment or any representation by ACHFL. The authorized officer/secured creditor shall not be responsible in any way for any third-party claims/rights or dues.
Please Note: Other than the encumbrances mentioned in the table above, there are no encumbrances on the immovable property to the best of the knowledge of the Authorized Officer of Secured Creditor ACHFL.
GOLDSPARROW SOLUTIONS PROPERTY AUCTION - TERMS & CONDITIONS
11. Technology Service Provider
GoldSparrow Solutions acts solely as the technology platform and auction facilitation partner for the secured creditor/bank. GoldSparrow does not own, possess, or sell any property listed on the platform.
12. Information Published
All auction notices, property details, reserve prices, inspection schedules, EMD details, and auction terms displayed on the platform are published based on information provided by the respective Bank, Financial Institution, Authorized Officer, or Secured Creditor. GoldSparrow does not independently verify the accuracy or completeness of such information.
13. Bidder Verification
It is the sole responsibility of every bidder to verify the property details, title, encumbrances, statutory dues, possession status, legal compliance, measurements, and all other relevant information before participating in the auction.
14. No Legal Liability
GoldSparrow shall not be liable for any errors, omissions, changes, cancellation, postponement, withdrawal, modification of auction schedules, reserve price revisions, or any decision taken by the Bank or Authorized Officer.
15. Auction Authority
The Bank/Authorized Officer shall have exclusive authority regarding bidder eligibility, acceptance or rejection of bids, declaration of successful bidder, confirmation of sale, cancellation, extension, postponement, or re-auction. GoldSparrow has no authority in such decisions.
16. Platform Availability
While every effort is made to ensure uninterrupted availability of the auction platform, GoldSparrow shall not be responsible for delays or failures arising from internet connectivity issues, power failures, hardware/software malfunction, telecommunications disruptions, force majeure events, or circumstances beyond its reasonable control.
17. Bidder Responsibility
Bidders are responsible for maintaining stable internet connectivity, compatible devices, updated browsers, and timely participation in the auction. Failure to place bids due to technical issues on the bidder's side shall not constitute grounds for any claim against GoldSparrow.
18. User Credentials
Bidders are solely responsible for maintaining the confidentiality of their login credentials, passwords, OTPs, Digital Signature Certificates (where applicable), and all activities performed using their registered account.
19. Electronic Records
The electronic records maintained by the auction platform, including login history, bid logs, timestamps, IP addresses, and system-generated reports, shall be treated as valid records for operational purposes.
20. No Warranty
GoldSparrow provides the auction platform on an "As Available" basis without any warranty, express or implied, regarding uninterrupted service, merchantability, fitness for a particular purpose, or error-free operation.
21. Intellectual Property
The software platform, website, logos, content, interface, and technology developed by GoldSparrow remain the exclusive intellectual property of GoldSparrow Solutions. Unauthorized copying, reverse engineering, reproduction, or misuse is strictly prohibited.
22. Privacy & Data Protection
Bidder information collected during registration and participation shall be used only for auction-related purposes and may be shared with the concerned Bank, Authorized Officer, or regulatory authorities wherever required by law.
23. Limitation of Liability
Under no circumstances shall GoldSparrow be liable for any direct, indirect, incidental, consequential, special, or financial losses arising from participation in the auction or reliance upon information published on the platform.
24. Governing Authority
The auction shall remain governed by the applicable laws of India and the terms prescribed by the Secured Creditor. In case of any conflict between these terms and the Bank's auction terms, the Bank's terms shall prevail.
25. Acceptance
By registering on the platform, downloading auction documents, or participating in the auction, the bidder confirms that they have read, understood, and accepted both the Bank's Terms & Conditions and the GoldSparrow Solutions Property Auction Terms & Conditions.
