1. Introduction

Purvaja Fincap Private Limited, hereinafter referred to as “the Company,” is committed to conducting transparent and fair auctions in compliance with all applicable laws and regulations, including the guidelines set forth by the Reserve Bank of India (RBI). This Auction Policy outlines the procedures and guidelines that will be followed by the Company in conducting auctions for various financial products and assets.

2. Objectives

The primary objectives of this Auction Policy are:
To ensure transparency and fairness in the auction process.
To protect the interests of both the Company and its customers.
To comply with all relevant legal and regulatory requirements.
To establish clear procedures for the conduct of auctions.

3. Types of Auctions

The Company may conduct various types of auctions, including but not limited to:
Auctions for the sale of non-performing assets (NPAs).
Auctions for the sale of financial instruments and securities.
Auctions for the acquisition of assets.

4. Auction Process

4.1 Pre-Auction Procedures:

Identify and categorize assets to be auctioned.
Determine the reserve price for each asset.
Verify legal and regulatory compliance of assets.
Publish auction details, including date, time, venue (if applicable), and terms and conditions.

4.2 Auction Bidding:

Ensure a secure and transparent bidding platform.
Allow pre-registration of bidders.
Conduct the auction in a fair and transparent manner.
Monitor and record all bids received.

4.3 Post-Auction Procedures:

Verify the highest bid and bidder details.
Communicate the results to the winning bidder.
Execute necessary legal and financial documentation.
Facilitate the transfer of ownership or settlement of funds.

5. Bidder Eligibility and Conduct

5.1 Eligibility:

Ensure that bidders meet the eligibility criteria set forth by the Company.
Verify the authenticity of bidder information.

5.2 Conduct:

Prohibit collusion or any unethical practices among bidders.
Reserve the right to disqualify any bidder engaging in fraudulent or deceptive conduct.

6. Confidentiality

All information related to the auction process, including bidder information and bid details, will be treated as confidential and disclosed only to authorized personnel involved in the auction process.

7. Compliance and Review

The Company will periodically review and update this Auction Policy to ensure continued compliance with applicable laws and regulations. Any changes will be communicated to all relevant stakeholders.
This Auction Policy is an integral part of Purvaja Fincap Private Limited’s commitment to conducting auctions with the highest standards of integrity, transparency, and fairness.