Auctions and Sales
The firm also acts as an auctioneers and agency, facilitating the sale of secured assets that have been acquired by creditors.
​The Company has built up a large database of people interested in investing in assets over the last 15 years of operations
What Is an Auction and How Does It Work? (Information EDU.)
An auction is a type of sale in which potential buyers compete for assets or services in an open or closed format. Buyers and sellers believe they will get a good deal by buying or selling assets at auctions.
​Auction & Sale The Company is also providing services as Auctioneers and Agents facilitating sales of secured assets seized by the lenders. The Company has compiled a large database of persons interested in making the investments in assets on distress sale. The following procedure is adopted for faster sale and better realization of value of assets:
Drafting and publication of legal notices as prescribed under SARFAESI Act with all requisite particulars
Information is sent to relevant part of the database regarding the property/asset on sale
The properties/assets are also listed for sale on popular media- both print and electronic media
The properties/ assets of sale are publicized locally by way of banners, inserts and dealers
The interested buyers are persuaded and visits to the properties/ inspection of the assets are arranged
Proper auction proceedings are conducted and all necessary records and evidences are kept for future references and authentication
Preparation of all documents, legal formalities etc. after successful closure of the auction
Complete all the documentation for transfer of title in favour of the buyer and drafting and facilitating issue of sale certificate
The Company has to its credit more than successful auctions and sales. There is a dedicated team for management, publicity and marketing of assets under distress sale. The team is experienced enough to handle properties of any size. The documentation process has already been optimized and systemized resulting in better confidence of buyers, timely completion of transaction and faster recovery of dues.
Formulating and authoring legal notices as required by the SARFAESI Act, including all required information.
Documentation about the property/asset for sale is sent to the appropriate database section.
The properties/assets are also advertised in popular print and electronic media for sale.
Banners, inserts, and dealers are used to advertise the properties/assets for sale locally.
The interested parties are persuaded, and property visits/asset inspections are scheduled.
The auction is conducted properly, with all necessary records and evidence kept for clarification purposes and authentication.
Following the successful conclusion of the auction, preparation of all documents, legal formalities, and so on.
Finalize all necessary paperwork for the buyer's title transfer, as well as developing and facilitating the allotment of sale registration.