Cyberabad police to auction seized vehicles, Oct 30 deadline for claims

Hyderabad: The Cyberabad police on Friday announced that it is auctioning-off all seized vehicles, and authorities have set 1 pm on October 30 as the deadline for vehicle owners to come and collect it.

The Cyberabad police in a notice said that it will be disposing-off the vehicles under sections 3 and 5 of the Telangana State Protection of Depositors of Financial Establishments Act- 1999. The sale will be done by the competent authority through e-auction platform provided at the web portal .

It is to be noted that the e-auction is being conducted as per the order of the Cyberabad Metropolitan sessions judge, which was passed on August 4, 2021. The court order called for the sale of land and vehicles registered in the name of Methuku Ravinder and Sun Pariwar Group of Companies, through e-auction. 

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The bidding has been completely online, and the participation and sale will be subject to the terms and conditions. The intending bidders have to deposit the EMD by way of remittance of funds through the payment gateway procedure and rules. Any net banking/credit/debit Card issued by any bank will be accepted through the ICICI gateway as well.

Bids which are conditional or those which don’t have EMD receipts will be rejected and other bids received after the last date fixed will not be accepted, said a press note from the Cyberabad police. In order to take part in the bidding process, bidders must submit their bids by logging on to the aforementioned website.

The sale price will be finalized through online auction through e-bidding process. It is to be noted that the email ID and contact number of the prospective bidder are mandatory, as all the relevant communication including allotment of user Id and password, will be conveyed through e-mail or via SMS.

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