Prospective bidder questions Rs 911 cr PACL property auction status

A prospective bidder for PACL's Gurugram properties has sought clarification on a Rs 911 crore auction. The bidder questions if the winner paid on time, if extensions were granted, and whether the sale is cancelled, citing a lack of transparency.

Prospective Bidder Questions Rs 911 Cr Auction Transparency

A prospective bidder in the auction of PACL properties in Gurugram has approached the concerned committee seeking clarification on the status of the Rs 911-crore transaction, including whether the successful bidder completed the payment formalities within the timelines prescribed under the tender document.

In a communication sent on September 8, representatives of the prospective bidder referred to their earlier representations and stated that the queries raised by them regarding the auction had not received a response. The latest communication seeks clarification on the present status of the transaction and related issues. The matter pertains to the e-auction conducted under the Tender Document for E-Auction of Properties in Gurugram, Haryana, dated November 18, 2025.

Clarification Sought on Payment and Extensions

The communication refers to a Status Report dated May 9, filed before the Supreme Court, which, according to the bidder, records that the Gurugram auction was conducted on February 2, with an accepted bid amount of approximately Rs 911.07 crore. The prospective bidder has sought confirmation regarding whether the consideration payable by the successful bidder was deposited in accordance with the timelines and conditions stipulated under the tender document.

Among other issues, the bidder has sought clarification on whether any relaxation or extension was granted to the successful bidder for depositing the balance 75 per cent consideration along with the 1 per cent poundage fee under Clause 2.14 of the tender document. It has also sought to know whether any such relaxation, if granted, was publicly disclosed. The communication further seeks clarification regarding the basis on which similarly placed prospective bidders were not provided a comparable opportunity in the event any relaxation had been granted to the successful bidder. The bidder referred to the stated objective of the tender process of facilitating a free, fair and transparent sale.

Queries on Auction Status and Re-auction

The prospective bidder has also sought clarity on the present status of the auction. It has specifically asked whether the sale stands cancelled on account of any failure by the successful bidder to deposit the balance consideration within the stipulated timeline. In the event the sale has been cancelled, the communication seeks information on whether a re-auction is contemplated or has been scheduled and the timeline envisaged for such a process. Alternatively, if the sale has not been cancelled, the bidder has sought details regarding the present status of the transaction and the expected timeline for its completion.

History of Unanswered Representations

The issues were initially raised in a representation dated March 16, in which the bidder sought information regarding the outcome of the auction, including the identity of the H1 bidder and the accepted bid amount. It had also sought confirmation regarding the deposit of the consideration payable by the successful bidder. The earlier representation additionally sought details regarding the future disposal of certain properties excluded from the auction pursuant to Corrigendum No. 1 dated December 24, 2025.

In its latest communication, the prospective bidder stated that neither of its earlier communications had been acknowledged or responded to and said that the absence of communication had resulted in continued uncertainty surrounding the auction process. The bidder has requested the concerned committee to respond to the queries raised in the latest communication within seven working days. (ANI)

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