Official Gazette Notification Text
Official TranscriptE.AUCTION SALE NOTICE IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH I C.A. NO. ol 2025 in C.P. No. 28 of 2000 Offers are invited from the prospective buyers for sale of property i.e. Land, building, Plant and Machinery of M/s Overseas Cables Limited (in Liqn.) situated at D-99, Focal Point, Rajpura (Punjab) by e-Auction on "as is where is & whatever there is basis". The detail of property,...
E.AUCTION SALE NOTICE IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH I C.A. NO. ol 2025 in C.P. No. 28 of 2000 Offers are invited from the prospective buyers for sale of property i.e. Land, building, Plant and Machinery of M/s Overseas Cables Limited (in Liqn.) situated at D-99, Focal Point, Rajpura (Punjab) by e-Auction on "as is where is & whatever there is basis". The detail of property, date of inspection and EMD for participating in e-auction is as under:- Lot nos Description of property Date of Reserve EMD (10% lnspection Price (in Rs.) of Reserve Price) (in Rs.) Lot-l Land & Building:- 03.11.2026 sq 1,43,10,000 14,31 ,000
Land area: 1060 yds @13500/-per Sq yards Building -lo 54,50,000 5,45,000 Lot-ll I Plant and Machinery .), 11,50,000 1,15,000 Total Value 2,09,'t 0,000 20,9't,000 lntending buyers may take inspection of above mentioned assets at the 1 respective place on the above mentioned date between 11.00 A.M' to 4.00 P,M.
The E- auction will be conducted through the website 2 https.//olauction.en ivida.com on 1 9. 1 1 .2026 (between 10 30 A M to 5 00 P.M.) with auto time extension of ten minutes in exigent situation. ., The bidders should submit their online offers through the website
https://olauction.enivida. com 4 The intending buyers should collect the detail information and terms & condition through the website of Ministry at www.mca.gov'in,
https://olauction.en ivida. com a nci High Court of Punjab and Haryana : hig hcou rtchd.gov. in. the intending buyers may also take help from the contacts given below (between '10:00 am to 6:00 pm). i.
Helpdesk - 01149606060 ii.
Ashutosh Kumar- 9355030621 iii.
Abhishek Kumar- 9355030617iv.
Birendra - 84482889885.
The EMD amount (interest free) should be deposited through the modes available in the portal. The last date of request and participation in E-auction and online of EMD is 1 8.1 1 .2026.
TheofferforsaleissubjecttoconfirmationofHon'bleHighCourtof Pun.iab & Haryana at Chandigarh
PLACE: (ANUPAM VASHISTA
DATED:
OFFICIAL LIQUIDATOR TO ATTACHED PUNJAB AND HARYANA HIGH COURT, CORPORATE BHAWAN, SECTOR- 278, CHD.(160019) 0172 - 2659875 E-mail lD:- ol. cha nd igarh@ mca.gov. inTERMS & CONDITIONS OF SALE ON 'AS IS WHERE IS AND WHATEVER THERE lS BASIS' lN THE MATTER OF M/s OVERSEAS CABLES LIMITEO (lN LIQUIDATION) SITUATED AT D-99, FOCAL POINT, RAJPURA (PUNJAB}.
B C.A. 2025 in CP No. 28 of 2000
Prelim ina ry:
The Hon'ble High Court of Punjab and Haryana at Chandigarh has permitted 1 the Official Liquidator to sell the Scheduled property/ies by inviting competitive bids through e-Auction to be conducted by selling agent namely M/s Railtel Corporation of lndia limited {A Miniratna Central Government (PSU)} under Ministry of Railway, GOl, on website: https://ola uction. enivida. com 2 Definitions and Abbreviations:
Unless the context otherwise requires under the "Terms and Conditions of the e- auction Sale" the following words wherever appear means:
2.1 "Scheduled Property" means property described in the Sale Notice/ Schedule-1. "Bidde(s)"/ "Purchaser(s)" means any person being an lndividual or Proprietor or Partnership firm or LLP or company and who is paying the Earnest Money Deposit ('EMD") and getting registered with eNivida.
Bidder(s)/Purchase(s) while being used interchangeably, shall be deemed to mean and include his/her/ their/its legal heirs, legal representatives, successors in interest and permitted assignee, as the case may be.
23 "EMD" means "Earnest Money Deposit" and /or "Pre-Bid EMD" to be paid as described in the e-Auction catalogue to qualify for participation in e- auction.
2.4 "High Court" means the "Hon'ble High Court at Chandigarh" )E, "RCIL-eNivida" means "Railtel Corporation of lndia Limited" and further means "Service Provider/ Selling Agent".
2.6 "Sale Notice" means the Auction Sale Notice published in the News Papers and uploaded in the website of www.mca.qov.in, & High Court of Punjab and Haryana at hiqhcourtchd.qov.in, which shall also include other information i.e., "Terms and Conditions of Sale" governing the e-auction sale, Know Your Customers (KYC) documents, required particulars for Online Registration of Bidders, and all other information and document
hosted on webpage: https://olauction. enivida.com for guidance of the Bidders
2.7 "Seller" means the Official Liquidator attached to the Hon'ble High Court of Punjab and Haryana at Chandigarh
2.8 "The person(s)" means and includes legal person" interested in submitting quotations/ offers.
3 lnspection of Property Prospective Bidders may carry out inspection of the scheduled property/ies on the scheduled dates and time only as given in the sale notice.
4 Buyer beware41 Property is being sold on "as is where is & whatever there is basis" Bidders are advised to ascertain on their own all information about the nature of right and title, survey/ Municipal Corporation/ lndustrial Plot Nos. and respective maps, extenU area oI land, boundaries, statutory sanctions or approval and all other dues 'statutory/ othel with respect to immovable property prior to submission of bid in the e-Auction. No dispute in this regard will be entertained by the Seller/ Selling Agent after submission of bids. The Bidder will not raise any dispute regarding the terms and conditions of the e-auction or about the particulars of the scheduled property or contest the same once he has been declared as the successful Bidder.
4.2 Any "Bid" made shall be deemed to have been submitted after complete satisfaction of the title, status, condition, quantity and quality etc., of the scheduled property/ies. Conditional offers/bids shall not be accepted Amendment to the offers/bids shall not be permitted after the closure of e-auction. The rule of caveat emptor is applicable.
5 Earnest Money Deposit (EMD)/Pre-Bid EMD
5.1 The Earnest Money Deposit (EMD/ Pre-Bid EMD needs to be paid by the participating bidders through e-Pavment Gatewav, and no other payment mode will be entertained.
Only the registered customers who will submit the online EMD within the aforesaid period will be able to participate against the above mentioned loUs in this e-auction The EMD of the successful bidders will be transferred to the Official Liquidator electronically throuqh paVment Gatewa The entire PRE BID EMD of the successful bidders will be forfeited automatically, if the highest bidder fails to pay the required Post- Bid Payment for the lot awarded to them. The PRE BID EMD of the unsuccessful parties will be refunded. No interest is payable on the Pre-Bid EMD/EMD.
E' Bidder/s who do not submit the online pre-bid EMD would not be eligibl to participate in e-Auction.
6 Submission of Offers ot The person(s) interested in submitting q uotations/offers shall submit the offers online through e-auction website: https://,olauction. enivida.qqql The offer/ bid submitted in other mode shall not be entertained.
6.2 Bidders are required to complete the registration formalities with eNivida before payment of the interest free EMD/pre-bid amount on or before three days prior to schedule date and time as prescribed in Schedule 2.
6.3 The prospective bidders should comply with KYC norms. All financial transaction towards e-auction sale of scheduled property must be made only through the bank account.
7 e-Au ction
7.1 e-Auction ResulUStatus: Status of bids must be personally seen by the Bidders online through the "Completed Auction" immediately after closing of e-Auction. Highest Bid is subject to approval of Hon'ble High Court at Chandigarh and there by securing the status of highest bidder confers no right so as to demand the automatic confirmation of sale in favour of highest bidder.7.2 Email Address of Bidders must always be kept valid, failing which Bidders will be liable for non-compliance of payment or any other instruction required to be issued by eNivida to them via email.
-7 .) The Sale will be governed by the Material List i.e. guidelines for online registration of intending bidders and all other information/ documents hosted on web page for guidance of intending bidders and pertaining to the e-auction sale & "Terms & Conditions" (hereafter referred as TC for brevity) displayed on the "Published Auctions". The Material List &TC dlsplayed under "Published Auctions-View Auctions Document" on eNivida e-Auction Website are tentative and subject to change at Seller's /eNivida sole discretion before the start of e-Auction Bidders should therefore download the Material List and TC displayed only under "View Auctions Document" for their record purpose, if required' participation in the e- Auction will be deemed to imply that the Bidders have made themselves thoroughly aware of and accepted the TC, and Material List Seller /eNivida shall have the right to issue addendum to the TC or Material List to clarify, amend, modify, supplement or delete any of the conditions, clauses or items stated therein and the Addendum so issued shall form a part of the original TC. ln this regard, the prospective bidders are advised to keep a close watch on the eNivida website to take notice of such addendum/s' if any.
74 During Live Auction, only brief Lot details will be shown under "Live Auctions" Tab where Bidders are required to bid under "My Bid " The detailed "Lot Description" can be seen by the Bidders by clicking on the ,,View Auctions" and it shall be the responsibility of the Bidders to see the" Lot Description" before bidding and no from the Bidders in this regard will be representation/complaint entertained bY eNivida/ Seller
7.5 It will be the Bidder's responsibility to personally see the result of e- Auction by seeing the.'Completed Auction.'from the Web site, which will be displayed after login 76 The Bidders shall be solely responsible for all consequences arising out of the bid submitted by him (including any wrongful bidding by him) and no complainv representation will be entertained by SELLER/ eNivida in this regard. Bidders must be careful to check the Bid AmounUNo of 'O'/No.ofDigits,etc.,andifrequired,rectifytheirbidbeforesubmitting the Bid into the live e-Auction floor by clicking the 'Submit Bid' Button. ln case of any bid being equal to or more than 5 (five) times the current Highest Bid for the Lot, this will be displayed by way of a WARNING MESSAGE on the Bidder's screen. There is no provision for putting Bids in decimals.
Acceptance of the highest (H-1) bid B
8.1 Acceptance of the highest (H-1) bid is subject to approval/ confirmation by the Hon'ble High Court and securing the status of highest Bidder' confers no right, so as to demand the automatic confirmation of sale in his/her favour.8.2 The Official Liquidator shall submit a report along with the e-auction result before the Hon'ble High Court at Chandigarh soon after conclusion of e-auction for approval of sale in favour of highest Bidder.
The Hon'ble Court may approve the highest bid considering the adequacy of price in light of the valuation report, and other relevant facts as may be deemed fit and proper by the Court The sale shall stand confirmed only after payment of the entire bid amount as approved by the Court and Goods and Service Tax (GST) as may be applicable over and above the bid amount. Upon approval of highest bid, the highest Bidder will be informed about the same by eNivida via online s S em o2 Once the bid is accePted bY the Hon'ble High Court, eNivida will transfer the amount of EMD to the account of the Official Liquidator, Chandigarh by way of demand drafUpay order drawn in favour of "Official Liquidator, Chandigarh" payable at Chandigarh forthwith on request of officer from Official Liquidator to transfer/refund of EMD's
8.4 25o/o oI the bid amount is required to be deposited with the Official Liquidator, Chandigarh by the successful bidder within 7 days from the date of acceptance of H-1 bid by the Official Liquidator, failing which the EMD shall be forfeited by the Seller 85 The entire due balance payment will have to be paid by the successful Bidder to the Official Liquidator, Chandigarh within 60 days of acceptance of H-1 bid by the Hon'ble High Court, The buyer shall adjust the pre- bid EMD/EMD with this PaYment
8.6 The highest Bidder will not be entitled to assign their right to buy the scheduled property to any third party or nominate any third party' once they are declared to be the successful Bidder ln other words, the Sale will be made only to the successful Bidder and not to any third party Forfeiture of EMD, etc.
The Seller reserves the right to forfeit any amount/money lying with
9.1 eNivida/seller from the successful Bidder who defaults in making the due payments against the e-Auction even though such amounVmoney may be lying with Seller/eNivida and payable to the said party against any other contracUtransaction.
9.2 The successful Bidder shall pay full and final bid amount along with GST as may be applicable, within the time prescribed in Schedule No' 2' failing which the EMD amount remitted, will stand forfeited and will be credited to the Account of the official Liquidator, chandigarh by eNivida- Railte l.
10 Delivery of Possession & Confirmation of Sale 1 0 1 The possession of the propertyiies shall be handed over to the successful purchaser/Bidder vide "Possession Memo" upon payment of full and final sale consideration
10.2 The scheduled property shall remain in every respect at the entire risk o the BUYER from the date of issue of "Possession Memo" by the SELLER
10.3 Delivery of the scheduled property/ies as covered in this e-auction will b made on "as is where is & whatever there is basis".
10.4 The sale deed will be executed/done in favour of the purchaser after th sale is confirmed by the Hon'ble High Court in favour of the successfu auction purchaser Submission of draft Sale Deed for approvaI (Wherever applicable) 1111 The purchaser/s of immovable property/ies shall submit a draft of Sale 1 Deed to the Official Liquidator for execution with authentic boundary, survey No. / Corporation No., Survey map and all other relevant information for proper identification of the sold property within a maximum period of 4 months from the date of handing over of the possession of the property to the purchaser.
11 2 It shall be the absolute responsibility of the respective purchaser to furnish the authentic boundary, survey No./ Corporation No., Survey map and all other relevant information for proper identification of the sold property. The sale deed/s shall be executed at the risk and cost of the purchasers. The cost of stamp duty, reg istration/transfer and all types of other dues and charges levied by any authority relating to transfer of property shall be borne by the purchaser.
12 Genera I
12.1 The sale will be subject to further modification/ alteration of terms and conditions of sale as the Hon'ble High Court may deem fit and proper.
12.2 The Hon'ble High Court may withdraw the sale and decline to accept any offer including the highest offer without assigning any reason thereof. The sale will be confirmed by the Hon'ble High Court only after the entire sale consideration has been deposited by the successful bidders.
12.3 No Court other than the Hon'ble High Court at Chandigarh will have the jurisdiction to deal with any matter arising out of the sale proceedings.
12.4 The instant Sale Notice shall stand as public notice and notice to and any secured creditor/s, petitioner/s, contributories other stakeholder in the company. Any kind of objection with respect to subject matter of sale must be brought to the notice of the Hon'ble Court before acceptance of bid. No objection of any kind shall be entertained thereafter.
12.5 The information in respect of the scheduled property have been stated to the best of the knowledge from the available records. The Seller/eNivida, however, shall not be responsible for any error, misstatement or omission in the said particulars. The Bidders are, therefore, requested to verify the same, in their own individual interests before submitting the Bids.SCHEDULENo.-2 Events of e-Auction:- Sr. No Events Dates and descriptions Last date and time for Bidder's On or before 18.11.2026 by 4:00PM 1 EMD Submission.
2 lnspection of the scheduled As per Sale Notice/Schedule-1 properties 3 Pre-Bid EMD / EMD As specified in schedule 1 4 Payment Schedule 25o/o of lhe bid amount to be deposited with the Official Liquidator, Chandigarh by the successful bidder within 7 days from the date of acceptance of H-1 bid failing which the Pre-Bid EMD/EMD shall be forfeited by the Seller. The buyer may adjust the Pre-Bid EMD/EMD with the Security deposit (SD).
5 Opening Bid/Start price Reserve Price given in Sale Notice/Schedule-1 gateway 6 Mode of Payment for EMD and all NEFT/RTGS/E-Payment to M/s other payments. RailTel Corporation lndia Ltd. Account.
7 Mode of payments of balance sale Demand drafVpay order drawn in the favour of proceeds to Official Liquidator, "Official Liquidator, Chandigarh" payable at Chandigarh for security deposit & Chandigarh.
Bid amount.
I Last date and time for online As mentioned above payment of EMD I Scheduled Date & time of Opening at Closing at opening and closing of e-Auction 19 112026 at 19.11.2026 for each Lot 10:30 AM at 5:00 PM 10 Minimum Bid lncrement 1% of the Reserve Price.
11 lntimation to securing the lmmediately after completion of e- Auction on position of the H-1 Bidder website in the User login. (highest bidder) 12 Online Auction Processing Fee Successful/H-1 bidder has to pay Rs.1,200/- per ltem/auction + Applicable GST, through the e-Payment Gateway/DDs 13 Full and final Payment of Bid 60 days from the date of approval of H-1 Bid by amount by successful Bidder Hon'ble High Court.
14 Refund of EMD of unsuccessful Refund at the option of bidders except for H-1 Bidders 15 Delivery of possession of the Upon payment of full and final sale property. consideration 16 Execution of sale deed/deed of Upon payment of full and final sale assig nment consideration and confirmation of sale by the Hon'ble High Court 17 Contact person in the office of Official Liquidator, Chandigarh Official Liquidator for inspection of scheduled property/ies Phone No. 0172-2659875 18 Contact Person in the office of L Helpdesk - 01 149606060 eNivida for any query regarding ii. Ashutosh Kumar- 9355030621 online registration or for bidding iii Abhishek Kumar- 9355030617 iv Birendra - 8448288988 etc.,SCHEDULE No.-3 Seller's Details:
Seller's Name OFFICIAL LIQUIDATOR ATTACHED TO THE HON'BLE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Location Corporate Bhawan, Plot No. 4 B, 2 Floor Street Sector 27-B, Madhya Marg City Chandigarh-16001 9 Country INDIA Telephone 0172-2659875 Fax Email ol.chand ioarh@mca.qov. in Web page www.mca.oov.in h iqhcou rtchd. qov. in
PLACE: CHANDIGARH (ANUPAM VASH TA) OFFICIAL LIQUIDATOR
DATED:
Attached to Punjab and Haryana High Court, Corporate Bhawan,2no Floor, Plot No. 4 B, Sector 27 B, Chandigarh Phone. 0172-2659875 E-mail:- ol. chand igarh@mca.gov. in