a). A refundable security deposit of ₹20,000 must be submitted to TSG Auction Mart concurrently with the completed Buyer Registration Form to participate in the auction. b). The security deposit for unsuccessful bidders will be refunded on the same day upon the conclusion of the auction event. c). In the event that a participant in the car auction successfully bids for a car, they are required to make an additional refundable security deposit of ₹3,000 (Rupees three thousand) for the purpose of time-bound RC transfer. This amount will be reimbursed upon the Buyer submitting a self-attested copy of the transferred RC to the Used Car office of TSG Auction Mart within 60 days of the sale. d). If the security deposit exceeds ₹20,000, it will be refunded via an account payee cheque or online bank transfer (RTGS) within three working days after the auction concludes. e). To claim a refund or adjustment with the sale price of the car, the Buyer must present and surrender the original receipt for the security deposit. However, if the deposit is paid via online bank transfer (RTGS), the receipt may not be necessary. f). If the original deposit receipt is lost, a refund or adjustment will only be processed upon submission of a notarized affidavit. g). PLA cards, provided for the purpose of facilitating bid placement, must be returned to the Accounts department upon the conclusion of the auction. If the PLA cards are lost, misplaced, or damaged, a deduction of ₹500 (Rupees five hundred only) will be made from the security deposit. h). No interest is applicable to the security deposits submitted to TSG Auction Mart.
Prospective buyers are strongly recommended to conduct a comprehensive inspection of the cars before placing any bids for their own benefit.
a). The auctioneer's decision on the acceptance of bids is conclusive. b). TSG Auction Mat reserves the right to withdraw cars from auction if they do not reach the reserve price. c).Once the auctioneer accepts a bid from a prospective buyer, it is irrevocable and cannot be withdrawn. d).Upon successfully winning a bid at the auction, the Buyer is obligated to deposit ₹10,000 (Rupees ten thousand) per car by the end of business hours on the auction day. The security deposit of ₹20,000 will be deducted from this amount, and the Buyer must cover any remaining shortfall within the specified time on the same day. Failure to do so will lead to the cancellation of the sale and the forfeiture of the security deposit. e). Winning bidders are required to complete the remaining payment for the used car(s) acquired at the auction within four working days from the auction event day. Failure to do so will incur a parking charge of ₹2000 plus service tax per day, starting from the fifth day onward. f). If the successful bidder does not complete the balance payment within seven working days from the Auction day, TSG Auction Mart reserves the right to cancel the sale of the used car. In such a scenario, the security deposit and any other amount paid for the car will be forfeited. TSG Auction Mart will proceed to sell the car to another customer. The Buyer will not receive a separate notification regarding the auction cancellation and deposit forfeiture. g). Participants who have not fulfilled the payment for the cars they acquired will be placed on a blacklist and barred from participating in TSG car auctions for the subsequent three months. h). A sale letter without details will not be provided for cars sold at TSG auctions. The cars acquired through auction must be transferred to the Buyer's name within 60 days from the date of sale. i). Cars will be delivered to successful bidders upon the full payment and completion of necessary documents on all business days, from 11:00 AM to 5:00 PM.
a).Additional charges, including VAT and service tax, will be levied wherever applicable. b).In compliance with government regulations, it is hereby notified that, in addition to other fees, an extra 1% charge is applicable for all cash transactions exceeding 2 lakhs. This applies even if partial payment is made in cash and the remaining through account transactions. The buyer can claim the same amount as a refund when filing their Income Tax Return (ITR). c). In accordance with government regulations, the release of vehicles after payment will be facilitated upon the presentation of a valid PAN Card, along with proof of address and a delivery note.
Vehicles are auctioned in a strictly "as-is, where-is" condition. TSG Auction Mart provides no warranty or guarantee for the cars auctioned, and there is no assurance regarding odometer rollback. Prospective buyers are strongly advised to conduct a thorough examination of the cars before placing their bids for their own benefit.
a). No returns will be accepted for cars sold at auctions. b). Buyers who have successfully completed the purchase must inspect the spare wheel tyre, tool kit, and other fittings during the delivery of the used car. Claims for any shortage or damage to these items will not be considered once the car has left the TSG Auction Mart premises. c).The auction will take place at venues determined by TSG. Prospective buyers are responsible for reaching the auction venue at their own expense. d). If a prospective buyer causes damage to a car or loses the ignition key during the pre-auction inspection, they are required to cover the repair charges. TSG Auction Mart reserves the right to deduct the payable amount from the security deposit provided by the customer in such instances. e). TSG retains the authority to modify or revise any conditions for conducting an auction; however, such changes will not apply retrospectively. f). The Bank No Objection Certificate (NOC) for pending cases will be issued within a timeframe of 25 to 30 days after the payment for the vehicles.
The buyer who successfully purchases the used car is required to pay a service charge to TSG Auction Mart. This charge amounts to 1% of the sale price, plus service tax, and is an additional fee beyond the sale value of the used car.
Any disagreements or disputes between auction participants, buyers, and TSG will be resolved through arbitration in accordance with the provisions of the Indian Arbitration Act of 1996. The arbitration proceedings will be conducted in the English language. The courts in Delhi will have exclusive jurisdiction for adjudicating disputes.
