M/s SILVER PROTEINS PRIVATE LIMITED (IN LIQUIDATION)

Liquidator Address: 405, Atlantis Enclave, Above Dinner Bell Restaurant,

Subhash Chowk, Gurukul, Memnagar, Ahmedabad-380052, Gujarat, India
E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com

E-Auction Sale Notice

Notice is hereby given to the public in general under the Insolvency and Bankruptcy Code, 2016
and Regulations there under that the assets of M/s Silver Proteins Private Limited - in liquidation
(Corporate Debtor) situated at Opp. Wind Mill Godown, Bedi Bander Road, Bedeshwar Road,
Jamnagar-361002 & Pioneer Wincon Pvt Ltd.,25MW-66/33KV Sub Station, At Nani Matli, Tal:
Jamnagar, Dist: Jamnagar (Asset locations) & registered office at C/O - Kiran Oil Mill, Bedi Road,
Develiya Chali, Jamnagar, Gujarat, 361008 will be sold by E-auction through the service provider
M/s E-procurement Technologies Limited (Auction Tiger) via website
https://ncltauction.auctiontiger.net.

Date and Time of Auction Wednesday, 29.12.2021, Between 11:00 AM to 2:00 PM

Last Date for Submission of EMD Monday, 27.12.2021 before 05:00 PM
Inspection Date & Time On or before 24.12.2021 ,From 11:00 AM to 5:00 PM
Contact person (Mr. Shalabh Kumar Daga: +91-
9687605050) - By fixing time in advance.

Details of assets Block Reserve Earnest Money

Price (Rs.) Deposit (Rs.)
Plant and Machinery -Wind Mill Block 1 5131800/- 513180/-
Plant and Machinery- Parts/spares of machines mostly in Block 2 969300/- 96930/-
Non-operational/Scrap condition

The EMD (Refundable) shall be payable by interested bidder through NEFT/RTGS/Demand Draft on or
before 27.12.2021 in account mentioned below. Details of liquidation bank account are as follows:

Account Number 3899735565

Beneficiary Name Silver Proteins Private Limited
Bank Name Central Bank of India
Branch Lal darwaza Branch , Ahmedabad, Gujarat
IFSC Code CBIN0280546 (5th character is zero)

For detailed terms and condition of E-action sale, refer Sale Notice available on
https://ncltauction.auctiontiger.net. For any query regarding E-auction, contact Mr. Praveen Thevar at
+91-9722778828, 079-68136841/78/51, 079-68136800, E-mail ID “praveen.thevar@auctiontiger.net”

Sd/-
Shalabh Kumar Daga
Date: 8.12.2021 Liquidator of Silver Proteins Private Limited
Place: Ahmedabad IBBI Reg. No: IBBI/IPA-001/IP-P00071/2017-18/10157

P a g e 1 | 34
 E-AUCTION PROCESS INFORMATION DOCUMENT

Invitation for bids for sale of assets of Silver Proteins Private Limited -in Liquidation (corporate
debtor) under the provisions of Insolvency and Bankruptcy Code, 2016 (Code) by an order of Hon
„ble National Company Law Tribunal (NCLT) dated 27th January 2021.

Sale of assets of Silver Proteins Private Limited - In Liquidation (corporate debtor) forming part of
Liquidation Estate offered by the Liquidator appointed by the Hon‟ble NCLT Bench Ahmedabad vide
order dated 27.01.2021. The sale will be done by the undersigned through e-auction platform at the web
portal of https://ncltauction.auctiontiger.net -, Date of e-auction is on 29.12.2021 from 11:00 am to 02:00
pm with unlimited extension of five minute.

Sl. No. Description Remarks

1 Event Type Auction under Liquidation Process
2 Property Details Sale of assets on standalone basis

1.Wind mill (Plant and machinery)-(Block 1) and

2.Parts/spares of machines mostly in Non-
operational/Scrap condition (Plant and Machinery) -
(Block 2)

3 Borrower Name M/s Silver Proteins Private Limited

4 Sealed Bid Start time 08.12.2021 from 11:00 AM
5 Submission of EOI, On or before 27.12.2021 up to 05:00 PM
Confidentiality and Non-
disclosure undertaking and EMD
6 Sealed Bid End time 27.12.2021 up to 05:00 PM
7 Auction Start date & Time 29.12.2021 from 11:00 AM
8 Auction End date & Time 29.12.2021 up to 02:00 PM
9 Mode of Submission of EOI Online / Offline
10 Mode of Submission of Bid Online /Offline
11 Mode of Auction E-auction (online only)
12 e-Auction website https://ncltauction.auctiontiger.net
13 Auction method Forward
14 Increment Value Rs. 50,000 / -
15 Inspection of Property On or before 24.12.2021 From 11:00 AM to 5:00 PM
By fixing time in advance.
16 EMD 10% of reserve price as per individual blocks.
17 Process participation fee and BY Way of NEFT/DD/RTGS:
EMD Payable in favour of & Liquidation Account Name: Silver Proteins Private
Payable at: Limited
Bank Name: Central Bank of India
Branch: Lal darwaza Branch , Ahmedabad, Gujarat
Account No: 3899735565
IFSC Code: CBIN0280546
(5th character is zero)
18 Auto extension Auto Extension of Five minutes

To know more or to participate into the E Auction please contact or Email to E-procurement technology
limited (Contact No.: Mr. Praveen Thevar at +91-9722778828, 079-68136841/78/51, 079-68136800, E-
mail ID “praveen.thevar@auctiontiger.net”) and for Asset related issue please contact or mail to Mr.
Shalabh Kumar Daga: +91- 9687605050: Email: silver.cirp@gmail.com

P a g e 2 | 34
 Sale Notice
Invitation for bids for auction of sale of assets of M/s Silver Proteins Private Limited (in Liquidation)
under the provisions of Insolvency and Bankruptcy Code, 2016 (Code) by an order of Hon‟ble
National Company Law Tribunal (NCLT) dated 27th January, 2021

Date of E-Auction

29th December 2021

By
Mr. Shalabh Kumar Daga
Liquidator
IBBI Reg. No: Regn. No. IBBI/IPA-001/IP-P00071/2017-18/10157
Address: 405, Atlantis Enclave, Above Dinner Bell Restaurant, Subhash Chowk, Gurukul, Memnagar,
Ahmedabad-380052, Gujarat, India

E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com

Contact No: Mr. Shalabh Kumar Daga +91-9687605050

M/s Silver Proteins Private Limited (In Liquidation)

CIN: U15142GJ1999PTC036082
Having its registered office at
C/O - Kiran Oil Mill, Bedi Road, Develiya Chali, Jamnagar, Gujarat, 361008

Asset location:
a. Opp. Wind Mill Godown, Bedi Bander Road, Bedeshwar Road, Jamnagar-361002
b. Pioneer Wincon Pvt Ltd.,25MW-66/33KV Sub Station, At Nani Matli, Tal: Jamnagar, Dist:
Jamnagar ( Wind Mill situated at this place)

(A company under liquidation process vide NCLT order dated 27th January 2021)

Notes:
1. This Sale Notice is issued only for the Interested Bidders.

2. Terms and conditions, deadlines etc. for participating in the Electronic Auction are provided in
the Sale Notice.

3. Bidders desirous to submit their bid have to submit their Bids on E-Auction Portal
https://ncltauction.auctiontiger.net or can also E-mail to: silver.cirp@gmail.com;

jlnus.ahd@gmail.com.

P a g e 3 | 34
 DISCLAIMER
This Sale Notice is issued by Mr. Shalabh Kumar Daga, the Liquidator appointed by the Honourable
NCLT, Ahmedabad Bench; vide order dated 27th January 2021 in the matter of Silver Proteins Private
Limited (in Liquidation) for general information purposes only.

1. The purpose of this document is to lay out the process for submitting the E-Auction Bids for
Silver Proteins Private Limited (in Liquidation) (corporate debtor) in accordance with the
Insolvency and Bankruptcy Code, 2016 (―IBC‟).
2. This document is not a statutory document and it has not been approved or registered with any
regulatory or statutory authority of Government of India or any State Government. Nothing
herein or in materials relating to the Sale Notice should be construed as legal, financial,
accounting, regulatory or tax advice by the Liquidator.
3. It is to be noted that no information being provided in this Sale Notice, claims to be
comprehensive, independent due diligence by the intended user of this document or the bidder is
highly recommended.
4. This Sale Notice Document and information contained herein or disclosed should not be printed,
distributed, or published by the recipient, without prior written approval from the Liquidator.
5. The Liquidator or any agent appointed by him shall not be liable for any damages, whether
direct or indirect, including loss of revenue or profits that may arise from or in connection with
the use of this Sale Notice, including for the E-Auction Participant not being selected as a
Successful Auction Participant or on account of any decision taken by the Liquidator.
6. Apart from the provisions set out in this Sale Notice, the E-Auction process applicant shall be
responsible for fully satisfying the requirements and Provisions of the Insolvency and
Bankruptcy Code, 2016 and of the Insolvency and Bankruptcy Board of India (Liquidation
Process) Regulations as well as all laws in force that are or may be applicable to the applicant
or the sale process and for obtaining requisite regulatory approvals.
7. It is to be noted that by procuring a copy of this Sale Notice, the recipient accepts the terms of
this disclaimer, which forms an integral part of this Sale Notice and part of all the other terms
and conditions of this Sale Notice.
8. The Assets of the Company are proposed to be sold on ―As is where is basis‖, ―As is what is
basis‖, ―Whatever there is basis‖ and ―No recourse‖ basis and the proposed sale of assets of
the Company does not entail transfer of any other title, except the title which the Company had
on its assets as on date of transfer. The Liquidator does not take or assume any responsibility for
any shortfall or defect or shortcoming in the assets of the Company.

P a g e 4 | 34
9. The E-Auction Participant shall bear all its costs and charges associated with or relating to the
preparation and submission as well as physical verification of its bid which may be required by
the Liquidator or any other costs incurred in connection with or relating to its bid.
10. This Sale Notice is neither an agreement nor an offer by the Liquidator to the Prospective
Bidders or any other person. The objective of this Sale Notice is to provide interested parties
with information that may be useful to them in making their bids. It may be noted that the
assumptions, assessments, statements and information contained in the Sale Notice may not be
complete, accurate, adequate or correct. Each Bidder should, therefore, conduct its own due-
diligence, investigations and analysis and should also check the accuracy, adequacy,
correctness, reliability and completeness of the assumptions, assessments, statements and
information contained in this Sale Notice and may get independent advice from appropriate
sources.
11. Liquidation Process of Silver Proteins Private Limited commenced on 27.01.2021 as per the
order of the honourable NCLT, Ahmedabad. The initial one year period of Liquidation Process
ends on 26.01. 2022.

12. Information provided in this Sale Notice to the Bidder(s) has been collected and collated from
several sources. The information given, by no means, claims to be an exhaustive account of
statutory requirements and should not be regarded as complete. The Liquidator accepts no
liability or responsibility for the authenticity, accuracy or otherwise for any statement or
information contained in the Sale Notice.

P a g e 5 | 34
 INDEX

Sr. No. Particular Page No.

1 Information Must be Read Before Bidding 07-08
2 Introduction 09-09
3 The Company and its assets 10-10
4 Eligibility Criteria 11-13
5 Documents Required to ascertain Eligibility of the Bidder 14 -14
6 Physical verification and site visit 15-15
7 Due diligence 15-15
8 Assets to be Auctioned and Reserve prices 16-16
9 Earnest Money Deposit (EMD) 17-18
10 Declaration of Successful Bidder 19-19
11 Fraudulent and Corrupt practices 19-20
12 Costs, Expenses and Taxes 21-21
13 Governing Law and Jurisdiction 22-22
14 Time Table 23-23
Annexure:
I Affidavit and Undertaking 24-25
II Bid Application Form 26-27
III Declaration by Bidders 28-30
IV List of KYC Documents 31-31
V Technical Terms and Conditions 32-34

P a g e 6 | 34
1. INFORMATION MUST BE READ BEFORE BIDDING

1.1. This Sale Notice has been issued for the purpose of carrying out electronic auction (e-Auction)
of assets of Silver Proteins Private Limited (corporate debtor) under the provisions of the
Insolvency and Bankruptcy Code (IBC), 2016 and the Insolvency and Bankruptcy Board of
India (Liquidation Process) Regulations, 2016 (Liquidation Process Regulations).

1.2. The information provided in this Sale Notice should be read together with the provisions of the
IBC and the Liquidation Process Regulations. In the event of a conflict between this Sale Notice
and the IBC or the Liquidation Process Regulations, the provisions of the IBC or the
Liquidation Process Regulations, as the case may be, shall always prevail.

1.3. The information contained in this Sale Notice or subsequently provided to Bidder(s), whether
verbally or in documentary or any other form by or on behalf of the Liquidator, is provided to
Bidder(s) on the terms and conditions as set out in this Sale Notice.

1.4. The Liquidator may, in his absolute discretion, but without being under any obligation to do so,
update, amend or supplement the information, assessment or assumptions contained in this Sale
Notice.

1.5. The issuance of this Sale Notice does not imply that the Liquidator is bound to select a Bidder
or to appoint the Preferred Bidder as Successful Bidder for the sale of assets of Silver Proteins
Private Limited -In Liquidation (corporate debtor) and the Liquidator reserves the right to reject
all or any of the Bidders or bids without assigning any reason whatsoever.

1.6. E-Procurement Technologies Limited, B/704, Wall Street-II, Opp. Orient Club, Nr. Gujarat
College, Ellis bridge, Ahmedabad – 380006, Gujarat (E-Auction Service Provider) has
been appointed as the E-Auction Service Provider. The sale of assets of the corporate debtor
shall be undertaken by the E-Auction Service Provider for and on behalf of the Seller through
an e-auction platform provided on the website portal of the E-Auction Service Provider
(Platform). Other details with respect to the e-auction are as follows:

Type of bid : E-Auction

Seller : Shalabh Kumar Daga

Liquidator in the matter of M/s Silver Proteins Private Limited
IBBI Registration No: IBBI/IPA-001/IP-P00071/2017-18/10157
405, Atlantis Enclave, Above Dinner Bell Restaurant, Subhash

P a g e 7 | 34
 Chowk,
Gurukul, Memnagar, Ahmedabad-380052, Gujarat, India
E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com
Mobile: 9687605050

Website of E-Auction : https://ncltauction.auctiontiger.net

service provider

Service Provider : E-Procurement Technologies Limited, B-704, Wall Street –II, Opp.
Orient Club, Near Gujarat College, Ellis bridge, Ahmedabad-
380006, Gujarat
Contact No.: Mr. Praveen Thevar at +91-9722778828,
079-68136841/78/51, 079-68136800,
E-mail ID “praveen.thevar@auctiontiger.net”

1.7. All terms and conditions with respect to the sale of assets of Silver Proteins Private Limited -In
Liquidation (corporate debtor) shall be governed by the directions of the Liquidator, Hon‟ble
National Company Law Tribunal (NCLT) and in accordance with the provisions of applicable laws.
As mandated by the NCLT, the Liquidator shall exercise all rights with respect to sale of the assets
and properties and it would be open to the Liquidator to appoint such experts, professionals or other
persons, as the Liquidator might think necessary, so as to enable the sale of the assets.

1.8. The Annexures to this Sale Notice shall form an integral part hereof and this Sale Notice shall
always be read in conjunction with the Annexures appended hereto.

1.9. The title document relating to the properties shall be available for inspection on request to be
made to the Liquidator at silver.cirp@gmail.com; jlnus.ahd@gmail.com.

P a g e 8 | 34
2. INTRODUCTION

2.1. The Company‟s Liquidation Process has been initiated under the provisions of the IBC and the
Liquidation Process Regulations by an order of the NCLT with effect from 27th January, 2021.
As per the said order, Mr. Shalabh Kumar Daga has been appointed as the Liquidator.

2.2. It is the endeavour of the Liquidator to sell Silver Proteins Private Limited -In Liquidation
(corporate debtor) comprising the liquidation estate of the Company in the manner specified
under Regulation 32 of the Liquidation Process Regulations, any other rules, regulations,
orders, circulars, directions or notifications or the like, issued pursuant to or under the IBC or
the Liquidation Process Regulations, as the case may be, and as per directions, if any, of the
NCLT in respect of the liquidation process of the Company and in the manner specified in this
Sale Notice.

2.3. The E-Auction would be conducted in the manner specified in the Schedule I, as provided under
Regulation 33 of the Liquidation Process Regulations, any other rules, regulations, orders,
circulars, directions or notifications or the like, issued pursuant to or under the IBC or the
Liquidation Process Regulations, as the case may be, and as per directions, if any, of the NCLT
in respect of the liquidation process of the Company and in the manner specified in this Sale
Notice.

2.4. The E-Auction Participants are encouraged to make themselves acquainted with the provisions
of the IBC and the Liquidation Process Regulations and any other rules, regulations, orders,
circulars, directions or notifications or the like, issued pursuant to or under the IBC or the
Liquidation Process Regulations, as the case maybe.

P a g e 9 | 34
3. THE COMPANY AND ITS ASSETS

Silver Proteins Private Limited (hereinafter referred to as the Company) is a company incorporated
on 2nd June 1999 under the provisions of the Companies Act, 1956.

M/s Silver Proteins Private Limited was established in 1999. It is a Jamnagar based company.
Industry categorised as Manufacture of Food Products and Beverages on MCA. The business was
run on rented machinery and plant taken from Group Company. Currently the company is not
operational. The Company also has a wind Mill.

In the month of February 2017, the financial creditor applied for initiation of Insolvency
proceedings under Section 7 of the IBC 2016 and was admitted to Corporate Insolvency Resolution
Process on 29th June 2020. Thereafter, as there was no any successful Resolution Plan, the company
was Ordered to be Liquidated vide order dated 27th January 2021 by the Hon‟ble National Company
Law Tribunal, Ahmedabad Bench.

Liquidation Process of Silver Proteins Private Limited started on 27.01.2021 as per the order of the
honourable NCLT, Ahmedabad. The initial one year period of Liquidation Process ends on 26th
January 2022.

P a g e 10 | 34
4. ELIGIBILITY CRITERIA

An auction process applicant shall not be eligible to submit a bid for purchase of the corporate
debtors (as provide under information memorandum), if he/she/it fails to meet the eligibility criteria
set out in Section 29A of the IBC (as amended from time to time). As on date, as per Section 29 A,
―a person shall not be eligible to submit a resolution plan, if such person, or any other person acting
jointly or in concert with such person—

(a) is an undischarged insolvent;

(b) is a wilful defaulter in accordance with the guidelines of the Reserve Bank of India issued under
the Banking Regulation Act, 1949 (10 of 1949);

(c) at the time of submission of the resolution plan has an account, or an account of a corporate
debtor under the management or control of such person or of whom such person is a promoter,
classified as non-performing asset in accordance with the guidelines of the Reserve Bank of
India issued under the Banking Regulation Act, 1949 (10 of 1949) or the guidelines of a
financial sector regulator issued under any other law for the time being in force, and at least a
period of one year has lapsed from the date of such classification till the date of commencement
of the corporate insolvency resolution process of the corporate debtor: Provided that the person
shall be eligible to submit a resolution plan if such person makes payment of all overdue
amounts with interest thereon and charges relating to nonperforming asset accounts before
submission of resolution plan: Provided further that nothing in this clause shall apply to a
resolution applicant where such applicant is a financial entity and is not a related party to the
corporate debtor.
Explanation I. - For the purposes of this proviso, the expression "related party" shall not include a
financial entity, regulated by a financial sector regulator, if it is a financial creditor of the
corporate debtor and is a related party of the corporate debtor solely on account of conversion
or substitution of debt into equity shares or instruments convertible into equity shares, prior to
the insolvency commencement date.
Explanation II.— For the purposes of this clause, where a resolution applicant has an account, or an
account of a corporate debtor under the management or control of such person or of whom such
person is a promoter, classified as non-performing asset and such account was acquired

P a g e 11 | 34
 pursuant to a prior resolution plan approved under this Code, then, the provisions of this clause
shall not apply to such resolution applicant for a period of three years from the date of approval
of such resolution plan by the Adjudicating Authority under this Code;

[(d) has been convicted for any offence punishable with imprisonment – (i) for two years or more
under any Act specified under the Twelfth Schedule; or (ii) for seven years or more under any
law for the time being in force: Provided that this clause shall not apply to a person after the
expiry of a period of two years from the date of his release from imprisonment: Provided further
that this clause shall not apply in relation to a connected person referred to in clause(iii) of
Explanation I;

(e) is disqualified to act as a director under the Companies Act, 2013 (18 of 2013)
Provided that this clause shall not apply in relation to a connected person referred to in clause (iii)
of Explanation I

(f) is prohibited by the Securities and Exchange Board of India from trading in securities or
accessing the securities markets;

(g) has been a promoter or in the management or control of a corporate debtor in which a
preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent
transaction has taken place and in respect of which an order has been made by the Adjudicating
Authority under this Code:
Provided that this clause shall not apply if a preferential transaction, undervalued transaction,
extortionate credit transaction or fraudulent transaction has taken place prior to the acquisition
of the corporate debtor by the resolution applicant pursuant to a resolution plan approved
under this Code or pursuant to a scheme or plan approved by a financial sector regulator or a
court, and such resolution applicant has not otherwise contributed to the preferential
transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction;

(h) has executed a guarantee in favour of a creditor in respect of a corporate debtor against which
an application for insolvency resolution made by such creditor has been admitted under this
Code and such guarantee has been invoked by the creditor and remains unpaid in full or part;

P a g e 12 | 34
(i) is subject to any disability, corresponding to clauses (a) to (h), under any law in a jurisdiction
outside India; or

(j) has a connected person not eligible under clauses (a) to (i).
Explanation I. — For the purposes of this clause, the expression "connected person" means—
(i) any person who is the promoter or in the management or control of the resolution applicant;
or (ii) any person who shall be the promoter or in management or control of the business of the
corporate debtor during the implementation of the resolution plan; or (iii) the holding company,
subsidiary company, associate company or related party of a person referred to in clauses (i)
and (ii):
Provided that nothing in clause (iii) of Explanation I shall apply to a resolution applicant where
such applicant is a financial entity and is not a related party of the corporate debtor: Provided
further that the expression "related party" shall not include a financial entity, regulated by a
financial sector regulator, if it is a financial creditor of the corporate debtor and is a related
party of the corporate debtor solely on account of conversion or substitution of debt into equity
shares or instruments convertible into equity shares, prior to the insolvency commencement
date;
Explanation II—For the purposes of this section, "financial entity" shall mean the following
entities which meet such criteria or conditions as the Central Government may, in consultation
with the financial sector regulator, notify in this behalf, namely:— (a) a scheduled bank; (b)
any entity regulated by a foreign central bank or a securities market regulator or other
financial sector regulator of a jurisdiction outside India which jurisdiction is compliant with the
Financial Action Task Force Standards and is a signatory to the International Organisation of
Securities Commissions Multilateral Memorandum of Understanding; (c) any investment
vehicle, registered foreign institutional investor, registered foreign portfolio investor or a
foreign venture capital investor, where the terms shall have the meaning assigned to them in
regulation 2 of the Foreign Exchange Management (Transfer or Issue of Security by a Person
Resident Outside India) Regulations, 2017 made under the Foreign Exchange Management Act,
1999 (42 of 1999); (d) an asset reconstruction company register with the Reserve Bank of India
under section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (54 of 2002); (e) an Alternate Investment Fund registered with
Securities and Exchange Board of India; (f) such categories of persons as may be notified by
the Central Government.‖

P a g e 13 | 34
5. DOCUMENTS REQUIRED TO ASCERTAIN ELIGIBILITY OF THE BIDDER

The E-Auction Process Applicant or the Bidder would need to submit the following forms,
documents and authorizations as part of the Auction Plan by the bidder(s):
5.1. Ownership Structure and Composition of the E-Auction Applicant / Bidder, Proof of
Identification, Current Address-Proof, PAN card, Valid e-mail ID, Landline and Mobile Phone
number.

5.2. Authorization to the Signatory (in case the bidder is a legal entity)

5.3. Affidavit and Undertaking by the E-Auction Process Applicant (through Authorized
Signatory, in case the bidder is a legal entity). The Format for the Affidavit and Undertaking is
attached vide Annexure I
5.4. An eligible bidder will need to submit the duly filled, signed and stamped Bid Application
Form attached vide‟ Annexure II, and duly filled, signed and stamped Declaration by Bidders
attached vide „Annexure III. KYC Documents as referred to in Annexure IV.

Please note that only the eligible bidders will gain access to documentation, additional
information required for due diligence, after due submission of the EOI documents and
Confidentiality and Non-Disclosure Undertaking. Further, if needed, the site visits for only the
eligible bidders may also be coordinated by the Liquidator.

Further, Bidders are advised to read technical terms and conditions given in Annexure V which
are applicable to this E-auction. Further, it should be noted that at any stage of the E-Auction
process, the liquidator may ask for any documents from the prospective bidders to evaluate their
eligibility. The liquidator, at his discretion may disqualify the prospective bidder for non-
submission of the requested documents.

P a g e 14 | 34
6. PHYSICAL VERIFICATION AND SITE VISIT
Physical verification and site visit of the assets of the Company, by the eligible bidder, may be
done on or before 24th Dec 2021 between 11:00 am to 5:00 pm, person to be contacted for
inspection is Mr. Shalabh Kumar Daga on +91- 9687605050. On request, arrangement for
inspection may be made.
The expenses for the site visit may be incurred by respective visitors. The Liquidator reserves
the right to not arrange a site visit for any reason whatsoever, irrespective of the request of the
Eligible Bidder.

7. DUE DILIGENCE
The Liquidator shall endeavour to provide necessary assistance, facilitating the conduction of
due diligence by interested Bidders. The information and documents shall be provided by the
Liquidator in good faith.

The assets of the Company are proposed to be sold on ― “As is Where is Basis, as is what is
basis, whatever there is basis and No recourse basis” and the proposed sale of assets of the
Company does not entail transfer of any title, except the title which the Company had on its
assets as on date of transfer. All local taxes / maintenance fee / electricity expenses/ water
charges etc., outstanding as on date or yet to fall due in respect of the relevant asset should be
ascertained by the E-Auction process applicant and would be borne by the successful bidder.

P a g e 15 | 34
8. ASSETS TO BE AUCTIONED AND RESERVE PRICES

Details of assets Block Reserve Earnest Money

Price (Rs.) Deposit (Rs.)
Plant and Machinery -Wind Mill Block 1 5131800/- 513180/-
Plant and Machinery- Parts/spares of machines mostly in Block 2 969300/- 96930/-
Non-operational/Scrap condition

Summary details of Assets are as follows:

(a) Details of plant and machinery

Sr.No. Machine Name (Block 1) Qty. (Nos)

1 Windmill 1 No
Sr.No. Machine Name(only parts) (Block 2) Qty. (No‟s)
2 Boiler(MP 1672) 1 No
3 100 tone chiller 1 No
4 Compressor 1 No
5 50 Tonne weigh bridge 1 No
6 Cooling tower 1 No
7 Pipes 1 Lot
8 Part of conveyor 3 Lot
9 M S Plates 1 Lot
10 Gear of conveyor 1 Lot
11 Packing Machine 1 Lot
12 Conveyor chain 1 Lot
13 Gas chromatograph- model trace Gc 6 1 No
14 Analytical Balance 1 No
15 Cooler 1 No
16 P.P. Bags Bulk(Kgs)
17 carbon (In kg) 2200(Kgs)
18 White Carbon (in Kg) 2200 (Kgs)
19 Batteries 10 Nos
20 LS- Other chemicals and misc. item(Scooter, Car)

Items 2 to 20 are one or the other way parts/spares of named machine mostly
in non-operational/scrap condition

It is to be noted that the bidders cannot place a bid for the company assets at a value below the reserve price.
Further, the bidders can increase their bid by a minimum incremental amount of Rs. 50,000 or in multiples of
these amounts.

It must also be noted that the liquidator does not give any assurance or warranty of the physical condition of
assets and their suitability for any sort of operation that the bidder envisages.
P a g e 16 | 34
9. EARNEST MONEY DEPOSIT (EMD)

All the E-Auction Process Applicants shall provide, along with or prior to submission of their
auction bids, an amount which is equal to the 10 % of the reserve price for the asset that is to
be bided for, as earnest money as under:

9.1 Mode of Payment

9.1.1 The Earnest Money Deposit, which would not be bearing any interest, has to be
paid by the Bidder prior to uploading the online bid form.
9.1.2 By way of Demand Draft, payable at Ahmedabad, in the name of “Silver Proteins
Private Limited (In Liquidation)”
9.1.3 Through RTGS / NEFT to the Liquidation account number of the company as
provided under:
Account Number 3899735565
Beneficiary Name Silver Proteins Private Limited
Bank Name Central Bank of India
Branch Lal darwaza Branch , Ahmedabad, Gujarat
IFSC Code CBIN0280546 (5th character is zero)

*Demand draft shall reach the office of liquidator on/before 5:00 PM of 27.12.2021
9.2 Other Instruction relating to EMD

9.2.1 The details of any remittances in this regard shall be entered in the online form
submitted by the Bidder. The entire EMD amount shall be remitted by the Bidder (s) from
one bank account only and to be owned by the Bidder.
9.2.2 Bidders shall preserve the proof of remittance and shall produce the same in front of
the Liquidator as and when demanded.
9.2.3 All the payments to be made by the Bidder under the e-auction shall be intimated to
the Liquidator at silver.cirp@gmail.com; jlnus.ahd@gmail.com and at
praveen.thevar@auctiontiger.net. It should be noted that no interest will be paid to the
auction process applicant in relation to such Earnest Money amount.
9.3 Forfeiture of Earnest Money Deposit from the E-Auction Applicant/ Bidder
It is to be noted that the Earnest Money furnished can be forfeited at any time, upon the
occurrence of any of the following events:
9.3.1 if there is a breach of any of the conditions under this Sale Notice by the Bidder or in
case Bidder is found to have made any misrepresentation; or
9.3.2 if Bidder is found to be ineligible to submit the bid as per the conditions set out in
Section 29A of the IBC (as amended from time to time) or is found to have made a false or

P a g e 17 | 34
 misleading declaration of eligibility as per the conditions set out in Section 29A of the IBC
(as amended from time to time); or
9.3.3 If the Successful Bidder fails to make the complete payment as per the terms of the
Letter of Intent issued by the Liquidator.
9.3.4 In the event of the Successful Bidder withdrawing his E-Auction Application, the
Liquidator shall have the right to forfeit the Earnest Money furnished by the Successful
Bidder.

9.4 Set-Off of Earnest Money of the Successful Bidder

Unless expressly indicated by the Bidder, the Earnest Money shall be set-off against or used
as part of the consideration that the successful bidder proposes to offer in relation to the
Company.

In case the auction fails, then the Earnest Money paid by the e-auction process applicant shall be
returned (without interest) to him/her/it within 15 (fifteen) days of the date of closure of auction
process.

P a g e 18 | 34
10. DECLARATION OF SUCCESSFUL BIDDER

The Liquidator at the end of the E-Auction phase shall declare the successful bidder(s). The
bidder having highest bid, shall be the successful bidder by the Liquidator via the E-Auction
portal process.

In case of any dispute / discrepancy, the liquidator shall assess the E-Auction applications and
declare the successful bidder(s) offering maximum value for the auctioned assets. This right of
selecting and declaring the successful bidder (s) shall solely rest with the Liquidator at all times.
The Liquidator shall endeavour to sell and maximize overall recovery from the sale of Assets of
the Company.

11. FRAUDULENT AND CORRUPT PRACTICES

The E-Auction Process Applicant / Bidder shall observe the highest standard of ethics during
the E-Auction Process and subsequently during the closure of the E-Auction Process and
declaration of successful bidder. Notwithstanding anything to the contrary contained in this Sale
Notice, the Liquidator shall reject an auction bid, without being liable in any manner
whatsoever to the E-Auction Process Applicant, if the Liquidator, at his discretion, determines
that the E-Auction process applicant has, directly or indirectly or through an agent, engaged in
corrupt practice, fraudulent practice, coercive practice, undesirable practice or restrictive
practice in the E-Auction Process or has, undertaken any action in respect of such process which
results in the breach of any Applicable Law including the Prevention of Corruption Act, 1988.
For the purposes of this Clause, the following terms shall have the meaning hereinafter
respectively assigned to them:
Coercive practice shall mean impairing or harming, or threatening to impair or harm, directly
or indirectly, any person or property to influence any person„s participation or action in the
auction Process;
Corrupt practice shall mean:
(i) the offering, giving, receiving, or soliciting, directly or indirectly, of anything of value to
influence the actions of any person connected with the auction Process (for avoidance of doubt,
offering of employment to or employing or engaging in any manner whatsoever, directly or
indirectly, any official of the Liquidator or the Company, who is or has been associated or dealt
in any manner, directly or indirectly with the auction Process or arising there from, before or
after the execution thereof, at any time prior to the expiry of 1(one) year from the date such

P a g e 19 | 34
official resigns or retires from or otherwise ceases to be in the service of the Liquidator or the
Company, shall be deemed to constitute influencing the actions of a person connected with the
auction Process); or
(ii) engaging in any manner whatsoever, during the auction Process or thereafter, any person in
respect of any matter relating to the Company, who at any time has been or is a legal, financial
or technical adviser of the Liquidator or the Company, in relation to any matter concerning the
auction process;
Fraudulent practice shall mean a misrepresentation or omission of facts or suppression of

facts or disclosure of incomplete facts, in order to influence the auction Process;

Restrictive practice shall mean forming a cartel or arriving at any understanding or

arrangement among the auction process Applicants with the objective of restricting or
manipulating a full and fair competition in the auction Process; and
undesirable practice shall mean (i) establishing contact with any person connected with or
employed or engaged by the liquidator with the objective of canvassing, lobbying or in any
manner influencing or attempting to influence the auction Process; or (ii) having a Conflict of
Interest
The Bidder shall not involve himself for any of his representatives in price manipulation of any
kind directly or indirectly by communicating with other Bidders.

The Bidder shall not divulge either his bid or any other details provided to him by the
Liquidator or during the due diligence process in respect of the asset to any other party. Prior to
conduct of due diligence / site visits, the Liquidator may require the Bidder to execute
confidentiality agreement with the Company / Liquidator.

P a g e 20 | 34
12. COSTS, EXPENSES AND TAXES
The auction process applicant shall be responsible for all the costs incurred by him/her/it on
account of its participation in the auction process, including any costs associated with
participation in the discussion Meeting (if any), Site Visit, etc. The Liquidator shall not be
responsible in any way for such costs, regardless of the conduct or outcome of the auction
Process.
It is hereby clarified that the E-Auction Process Applicant shall make his/her/its own
arrangements including accommodation for the discussion Meeting (if organised) or Site Visit
and all costs and expenses incurred in that relation shall be borne by the E-Auction Process
Applicant.
The E-Auction Process Applicant shall not be entitled to receive any reimbursement of any
expenses which may have been incurred while carrying out the due diligence, search of title to
the assets and matters incidental thereto or for any purpose in connection with the E-Auction
Process.
It is to be noted that all taxes applicable (including stamp duty implications and registration
charges) on sale of assets would be borne by the successful bidder
i. The sale attracts stamp duty, registration charges etc. as per relevant laws
ii. The successful bidder shall bear all the necessary expenses like applicable stamp duties /
additional stamp duty / transfer charges, fees, etc. for transfer of property (ies) in his / her name
iii. The payment of all statutory / non – statutory dues, taxes, rates, assessments, charges, fees,
etc. owed by Silver Proteins Private Limited to anybody in respect of the Property (ies) shall be
sole responsibility of successful bidders.
iv. Purchaser has to bear all the expenses and cess or other applicable taxes including GST,
TDS etc.

It is expressly stated that the Liquidator does not take or assume any responsibility for any
dues, statutory or otherwise, of the Company, including such dues, if any, which may affect
transfer of the liquidation assets in the name of the Successful Bidder and such dues, if any,
will have to be borne / paid by the Successful Bidder.
The E-Auction process applicant shall be responsible for fully satisfying the requirements of
the IBC and the related Regulations as well as all Applicable Laws that are relevant for the
sale process. The Successful Bidder shall be responsible for obtaining requisite regulatory or
statutory or third-party approvals, no-objections, permission or consents, if any, that are or
may be required under Applicable Law for purchasing the relevant assets.

P a g e 21 | 34
13. GOVERNING LAW AND JURISDICTION
This Sale Notice, the auction Process and the other documents pursuant to the Sale Notice shall
be governed by the laws of India and any dispute arising out of or in relation to the Sale Notice
or the E-Auction Process shall be subject to the exclusive jurisdiction of the Adjudicating
Authority, courts and tribunals at Ahmedabad, India

P a g e 22 | 34
14. TIMETABLE

The following timetable shall apply to the E-Auction Process Information Sheet. The timetable may
be amended by the Liquidator through issuance of an addendum to the E-Auction Process
Information Sheet:

ACTIVITY Last date (in calendar days)

Public Announcement of Auction 8th Dec 2021
Opening of Auction Portal and this E-
Auction Process Information Document 8th Dec 2021 11:00 AM onwards till
made available on the 27th Dec 2021 05:00 PM
websites
Submission of EOI, Confidentiality and
Non- disclosure undertaking and Non- Up to 27th Dec 2021
refundable process participation fee
Site visit and discussion meeting Up to 24th Dec 2021 between 11:00 AM to
05:00 PM after fixing time.
Submission of Bid Forms (Exhibit- III),
EMD Declaration Exhibit (IV), KYC On or before 27th Dec 2021 Up to 5:00 PM.
(Exhibit V)
E-Auction 29th Dec 2021, 11:00AM to 2:00 PM

Signing the Letter of Intent (LOI) 5th Jan 2022

Within 15 days from the date of completion of

Return of EMD for unsuccessful bidders auction
Payment of balance consideration On the close of the auction, the highest bidder
amount by the Successful Bidders
will be invited to provide balance sale
consideration within ninety days of the date of
such demand.

Provided that payments made after thirty days

shall attract interest at the rate of 12%.

P a g e 23 | 34
[With applicable Stamp Duty duly Notarised]

ANNEXURE I
AFFIDAVIT AND UNDERTAKING

Date: …………..
To,
Shalabh Kumar Daga
Liquidator in the matter of M/s Silver Proteins Private Limited
IBBI Registration No: IBBI/IPA-001/IP-P00071/2017-18/10157
405, Atlantis Enclave, Above Dinner Bell Restaurant, Subhash Chowk,
Gurukul, Memnagar, Ahmedabad-380052, Gujarat, India
E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com

Sub: Disclosure of eligibility under section 29A of the Insolvency and Bankruptcy Code, 2016 and
declaration for submitting resolution plan.

Dear Sir,

A. I hereby submit this declaration under Section 29A of the Insolvency and Bankruptcy Code,
2016 (Code) (as amended from time to time):

I have understood the provisions of section 29A of the Code. I confirm that neither I/____
Limited nor any person acting jointly with me/____ Limited or any person who is a promoter or
in the management or control of me/us/ ____ Limited or any person acting jointly with
Me/____ Limited:
(a) is an un-discharged insolvent;
(b) is a wilful defaulter in accordance with the guidelines of the Reserve Bank of India issued under the
Banking Regulation Act, 1949; (10 of 1949)
(c) at the time of submission of the resolution plan (Bid) has an account, or an account of a corporate
debtor under the management or control of such person or of whom such person is a promoter,
classified as non-performing asset in accordance with the guidelines of the Reserve Bank of India
issued under the Banking Regulation Act, 1949 (10 of 1949) or the guidelines of a financial sector
regulator issued under any other law for the time being in force, and at least a period of one year has
lapsed from the date of such classification till the date of commencement of the corporate insolvency
resolution process of the corporate debtor:

(d) has been convicted for any offence punishable with imprisonment – (i) for two years or more under
any Act specified under the Twelfth Schedule; or (ii) for seven years or more under any law for the
time being in force: Provided that this clause shall not apply to a person after the expiry of a period
of two years from the date of his release from imprisonment: Provided further that this clause shall
not apply in relation to a connected person referred to in clause(iii) of Explanation I;
(e) is disqualified to act as a director under the Companies Act, 2013 (18 of 2013);
(f) is prohibited by the Securities and Exchange Board of India from trading in securities or
accessing the securities markets;

P a g e 24 | 34
(g) has been a promoter or in the management or control of a corporate debtor in which a
preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent
transaction has taken place and in respect of which an order has been made by the Adjudicating
Authority under this Code;
(h) has executed [a guarantee] in favour of a creditor in respect of a corporate debtor against which
an application for insolvency resolution made by such creditor has been admitted under this
Code;
(i) is subject to any disability, corresponding to clauses (a) to (h), under any law in a jurisdiction
outside India; or
(j) has a connected person not eligible under clauses (a) to (i).

A. I therefore, confirm that I/____ Limited is eligible under Section 29A of the Insolvency and
Bankruptcy Code, 2016 (―Code) (as amended from time to time) to submit a resolution plan
for M/s Silver Proteins Private Limited- in Liquidation.
B. I undertake /on behalf of I/___ Limited, that during the Liquidation Process, no person who would
be considered as Connected Person and is not eligible to submit resolution plan under section
29A of Insolvency and Bankruptcy Code, 2016 and the regulation 38 of IBBI (Insolvency
Resolution Process of Corporate Persons) regulations, 2016 shall be engaged in the
management and control of corporate debtor.
C. I declare and undertake that in case the I/__ Limited becomes ineligible at any stage during the
Liquidation Process, it would inform the Liquidator forthwith on becoming ineligible.
D. I also undertake that in case the I/___ Limited becomes ineligible at any time after submission of
the EMD, then the EMD would be forfeited.
E. I also further undertake that my winning bid Amount will remain binding unless rejected by the
Liquidator.
F. I confirm that the said declaration and disclosure is true and correct. G. I am duly
authorised to submit this declaration by virtue of ______
(DEPONENT)

VERIFICATION
I, the deponent above, do hereby solemnly declare and affirm that the above statement given by
me is true and correct to the best of my knowledge and belief and nothing stated above is false
or misrepresentation or misleading.

(DEPONENT)

P a g e 25 | 34
 ANNEXURE II
BID APPLICATION FORM
(Please fill up separate Bid Application form)
Date:
To,
Shalabh Kumar Daga
Liquidator in the matter of M/s Silver Proteins Private Limited
IBBI Registration No: IBBI/IPA-001/IP-P00071/2017-18/10157
405, Atlantis Enclave, Above Dinner Bell Restaurant, Subhash Chowk,
Gurukul, Memnagar, Ahmedabad-380052, Gujarat, India
E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com
Dear Sir,
I am desirous in participating in the E- Auction announced by you in the newspaper Publication
dated _______________ in___________________________________________________________
(Name of the Newspaper). We have deposited the require amount of EMD in the bank account of
Corporate debtor as per detail attached.

Details of Corporate Debtor:

Account Number 3899735565

Beneficiary Name Silver Proteins Private Limited
Bank Name Central Bank of India
Branch Lal darwaza Branch , Ahmedabad, Gujarat
IFSC Code CBIN0280546 (5th character is zero)

Details of Bidder / Bid Price Offered:

Name of the Bidder

Constitution of Bidder

Contact No.

E-mail ID

PAN No. and

GST Regn. No.

Address

Particulars of Bank No. Date:

draft/PO/UTR/RTGS Amount (In Rs.)

P a g e 26 | 34
Details against EMD Issuing Bank & Branch :

Bid price offered In figures:

In words:

Details of Bank account for Refund of EMD if any:

Name of Account holder:

Account Number:

Account Type:

IFS Code:

Bank name and Branch:

I/We also enclose copies of the required KYC documents. We request you to kindly verify the
same and arrange with the auction portals for issue of an ID and password for us to enable us to
take part in the e-Auction.
I/We/M/s._________________________________ hereby declare that we have inspected the
assets ascertained the quality and quantity, etc. and gone through and have understood the
Terms & Conditions of sale and shall be abided by the same.

Place:
Date: Signature

(seal in case of Company / Firm)

P a g e 27 | 34
[On appropriate Stamp Paper]

ANNEXURE III
DECLARATION BY THE BIDDERS

Date:
To,
Shalabh Kumar Daga
Liquidator in the matter of M/s Silver Proteins Private Limited
IBBI Registration No: IBBI/IPA-001/IP-P00071/2017-18/10157
405, Atlantis Enclave, Above Dinner Bell Restaurant, Subhash Chowk,
Gurukul, Memnagar, Ahmedabad-380052, Gujarat, India
E-mail: silver.cirp@gmail.com; jlnus.ahd@gmail.com

Sir,

1. I/We, the Bidder/s aforesaid do hereby state that, I/We have read the entire terms and
conditions of the sale and the terms and conditions of the / for sale of the properties specified
thereunder (“Properties”) and have understood them fully. I/We, hereby unconditionally agree
to conform with and to be bound by the said terms and conditions and agree to take part in the
e-auction process.

2. I/We declare that the earnest money deposit and other deposit towards purchase-price have
been made by me/us as against my/our bid and that the particulars of remittance and all other
information and details given by me/us in the online form(s) are true and correct.

3. I/We further declare that the information revealed by me/us in the online form(s) is true and
correct. I/We understand and agree that if any of the statement/ information revealed by me/us
is found to be incorrect and/or untrue, the bid submitted by me/us is liable to be cancelled and in
such case, the earnest money deposit and / or any other monies paid by me/us is liable to be
forfeited by the Seller (liquidator) and the Seller will be at liberty to annul the offer made to
me/us at any point of time.

P a g e 28 | 34
4. I/We also agree that after my/our offer given in my/our bid for purchase of the Property (ies)
is accepted by the Seller and if, I/We fail to accept or act upon the terms and conditions of the
sale or am/are not able to complete the transaction within the time limit specified for any reason
whatsoever and/or fail to fulfil any/all the terms and conditions of the auction and offer letter,
the earnest money deposit and any other monies paid by me/us along with the online form and
thereafter, are liable to be forfeited. The timelines for the payment of final sale consideration
may be extended by sole discretion of liquidator, to the extent permissible under the applicable
laws and regulations. In case final sale consideration is not paid within timeline, the liquidator
shall forfeit EMD and/or.

5. I/We understand that the earnest money deposit of all Bidders shall be retained and returned
only after the successful conclusion of the sale of the Property (ies). I/We state that I/We have
fully understood the terms and conditions therein and agree to be bound by the same.

6. I/ We confirm that our participation in the e-auction process, submission of bid or purchase
of the Property (ies) pursuant to the provisions of the terms of sale will not conflict with, or
result in a breach of, or constitute a default under (i) our constitutional documents; or (ii) any
applicable laws; or (iii) any authorisation or approval of any government agency or body; or
(iv) any judgment, order, injunction, decree, or ruling of any court or governmental authority,
domestic or foreign binding on me/ us; or (v) any agreement to which I am/ we are a party or by
which I am/ we are bound.

7. The decision taken by the Liquidator with respect to the selection of the Successful Bidder
and communicated to us through the Agency or by the Liquidator shall be binding on me/us.

8. I/ We also undertake to abide by the additional conditions if announced during the e-auction
including any announcement (s) for correction of and/or additions or deletions to the time of the
auction and Properties being offered for sale.

9. I/We also confirm that I/ we have taken training on the on-line bidding/auction and confirm
that I‟ am/ we are fully conversant with the functionality and process.

P a g e 29 | 34
10. I/We confirm that the seller and or his employees, shall not be liable and/ or responsible in
any manner whatsoever for my/our failure to access and bid on the E-auction platform due to
loss of internet connectivity, electricity failure, virus attack, problems with the PC, any other
unforeseen circumstances etc. before or during the auction event.

11. I/We hereby confirm that I/we are eligible to purchase the assets of the Company in terms

of provisions under Section 29A of the Insolvency and Bankruptcy Code, 2016 (as amended

from time to time).

12. I/ We, hereby confirm that I/ we will honour the bids placed by me/ us during the e-auction
process.

_________________
Signature

Name: ……………………………………………………………………….
Address: ……………………………………………………………………….
E-mail ID: ……………………………………………………………………….
Mobile: ……………………………………………………………………….

P a g e 30 | 34
 ANNEXURE IV

LIST OF KYC DOCUMENT

For the purpose of your KYC Verification post your complete payment, following documents
are required in original with all your document including complete bid document and KYC
submitted at the time of registering on the auction portal. Please carry a complete Xerox of all
the document.

A. In case the bidder is an Individual

1. Copy of ID Proof of the Individual like AADHAR/Passport etc.
2. Copy of Address proof of the Individual as quoted in the Bid Documentation.
3. Copy of PAN Card of the successful bidder.
4. All relevant documentation related to the Bidding Process.

B. In case Bidder is a Company/Entity:

1. Copy of Original Authorization letter at Company Letter Head, in the name of the Individual
authorized to collect Sale Certificate on behalf of the company.
2. Copy of ID Proof of the authorized representative like AADHAR/Passport etc.
3. Copy of PAN Card of the Company.
4. Copy of Memorandum and Articles of Association of the company.
5. All relevant documentation related to the Bidding Process.

C. At the time of delivery the authorized person would have to show the original
documents of:
1. Original Authorization letter of the Company.
2. Original ID Proof of the authorized Representative/ Individual appearing like
AADHAR/Passport etc.
3. Original PAN Card of the Company/ Individual.
4. Proof of Successful Bidding like Email communication etc.

P a g e 31 | 34
 ANNEXURE V

TECHNICAL TERMS AND CONDITIONS OF E-AUCTION SALE

1. E-Auction will be conducted on “As is Where is Basis”, “as is what is basis”, “whatever
there is basis” and “No recourse basis” through approved service provider M/S e-
procurement Technologies Limited (Auction tiger). E-Auction tender document containing
online e- auction bid form, Declaration, General Terms and condition of online auction sale are
available on websites https://ncltauction.auctiontiger.net, Contact: E-Procurement Technologies
Limited, B-704, Wall Street –II, Opp. Orient Club, Near Gujarat College, Ellisbridge,
Ahmedabad- 380006, Gujarat Contact No.: .: Mr. Praveen Thevar at +91-9722778828, 079-
68136841/78/51, 079-68136800, E-mail ID “praveen.thevar@auctiontiger.net”. Ongoing to
the link https://ncltauction.auctiontiger.net/ bidders will have to search for the mentioned
company by using either one of the two options, (i) Company‟s name Silver Proteins Private
Limited - in liquidation, or by, (ii) State and property type).
2. The intending bidders prior to submitting their bid, should make their independent inquiries
regarding the encumbrances, title of property, claims/rights/dues/affecting the property, inspect
the property at their own expenses and satisfy themselves. The date and time of inspection of
the property can be fixed. Contact Mr. Shalabh Kumar Daga - +91 - 9687605050.

3. The intending bidders are required to deposit EMD amount either through NEFT/RTGS/DD in
the account:
Account Number 3899735565
Beneficiary Name Silver Proteins Private Limited
Bank Name Central Bank of India
Branch Lal darwaza Branch , Ahmedabad, Gujarat
IFSC Code CBIN0280546 (5th character is zero)

* Demand draft of EMD shall reach the office of liquidator on/before 5:00 PM of 27th Dec
2021.

4. The intending bidder should submit the evidence for EMD Deposit Request Letter for
participation in the E- Auction along with Self attested copy of (1) Proof of Identification (2)
Current Address- Proof (3) PAN card (4) Valid e-mail ID (5) Landline and Mobile Phone
number (6) Affidavit and Undertaking, as per Annexure I (7) Bid Application Form as per
Annexure II (8) Declaration by Bidder, as per Annexure III, the formats of these Annexures
can be taken from this sales notice. These documents should reach the office of the
liquidator or by E-mail, at the address given above before 5:00 PM of 27th Dec 2021. Or
interested bidders can upload these documents along with the EMD submission details on
https://ncltauction.auctiontiger.net before 5:00 PM of 27th Dec 2021.

P a g e 32 | 34
5. Name of the eligible Bidders will be identified by the Liquidator to participate in online e-
auction on the portal (https://ncltauction.auctiontiger.net). The e-auction service provider
(Auction tiger) will provide User id and password by email to eligible bidders.
6. The declaration as per the format set out in Annexure I and III must be executed in
accordance with applicable law and it must be in issued in accordance with the constitutional
documents of the Bidder, if applicable, after obtaining all corporate approvals as may be
required. The extract of constitutional documents and certified copies of the corporate
approvals must be enclosed with the declaration. In case of Bidder being an individual, the
declaration must be personally signed by the Bidder. In case the Bidder is not an individual,
the declaration must be signed by a person who is in full time employment of the Bidder and
duly authorized to sign the same.
7. In case bid is placed in the last 5 minutes of the closing time of the E-auction, the closing
time will automatically get extended for 5 minutes with unlimited extension. The bidder who
submits the highest bid amount (not below the reserve price) on closure of e-Auction process
shall be declared as Successful bidder and a communication to that effect will be issued
through electronic mode which shall be subject to approval by the Liquidator.
8. The EMD of the Successful Bidder shall be retained towards part sale consideration and The
EMD of unsuccessful bidders shall be refunded. The EMD shall not bear any interest. The
Liquidator will issue a Letter of Intent (LOI) to the Successful Bidder and the Successful
Bidder shall have to deposit the balance amount (Successful Bid Amount (-) EMD Amount)
within 90 days on issuance of the LOI by the Liquidator (Provided that payments made after
thirty days shall attract interest at the rate of 12%). Default in deposit of the balance amount
by the successful bidder within the time limit as mentioned in the LOI would entail forfeiture
of the entire amount deposited (EMD (+) Any Other Amount) by the Successful Bidder.
9. The purchaser shall bear the applicable stamp duties/transfer charge, fees etc. and all the
statutory/ non-statutory dues, taxes, rates, assessment charges, fees, GST etc. in respect of
the property put on auction.
10. The Liquidator has the absolute right to accept or reject any or all offer (s) or
adjourn/postpone/cancel the e-Auction or withdraw any property or portion thereof from the
auction proceeding at any stage without assigning any reason there for. The decision of the
Liquidator on declaration of Successful Bidder shall be final and binding on all the Bidders.
11. All bids placed are legally valid bids and are to be considered as bids from the Bidder
himself. Once the bid is placed, the Bidder cannot reduce or withdraw the bid for whatever
reason. If done so, the EMD amount shall be forfeited. Cautioned to be careful to check the
bid amount and alter/rectify their bid if required before confirming the bid submitted.

P a g e 33 | 34
12. Bidders may encounter certain unforeseen problems such as time lag, heavy traffic, and
system/ power failure at the Bidder‟s end. To avoid losing out on bidding because of above-
mentioned reasons, it is advised not to wait for the last moment.
13. The highest and the latest bid on the auction shall supersede all the previous bids of the
respective Bidders. The Bidder with the highest offer/ bid does not get any right to demand
for acceptance of his bid.
14. After the conclusion of the e-auction for each Property, the Successful Bidder shall be
informed through a message generated automatically by the Platform, of the outcome of the
e-auction. A separate Intimation shall also be sent to the Successful Bidder. Date of sending
the e-mail will be considered as the date of receipt of the Intimation i.e. Date of Intimation.
15. The Bidder shall be solely responsible for all consequences arising out of the bid submitted
by him (including any wrongful bidding) and no complaint/ representation will be
entertained in this regard by the Agency/ the Seller (Liquidator).
16. The sale certificate/agreement will be issued in the name of the successful bidder only and
will not be issued in any other name.
17. The sale shall be subject to provisions of Insolvency and Bankruptcy Code 2016 and
regulations made thereunder.
18. The Eligible Bidders, participating in the E-Auction, will have to bid for at least the Reserve
Price, and increase their bid by a minimum incremental amount of Rs.50, 000.

P a g e 34 | 34