West Bengal Gramin Bank Auction Industrial Property in India

How a West Bengal Gramin Bank auction works

West Bengal Gramin Bank publishes each sale notice with the asset description, reserve price, EMD, bid deadline and the e-auction platform where bidding takes place.

The EMD is refundable if you do not win. The notice also states the bid increment and how quickly the balance amount must be paid after the sale is confirmed.

• Register on the e-auction platform named in the notice
• Deposit the EMD before the last date stated
• Inspect the asset during the inspection window
• Keep your ceiling price decided before bidding opens

What to check on industrial property lots

Industrial units often come with lease conditions from a development authority, and with plant left on site.

• Lease terms and transfer permission from the authority
• Whether plant and machinery are part of the sale
• Power connection, load sanction and pending dues
• Effluent, pollution board and statutory clearances