GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
|No.2007/TC-III/15/1.||New Delhi, dated 27.4.2007|
The General Managers,
All Indian Railways.
Sub:- Auctioning of unclaimed articles.
Vide para 8 of Board's letter No.77/TC-III/53 dated 17.1.83 it has been stipulated that in case the reserve price of any article is not bidden in the forst or second auction,the officer authorised to conduct the auction would be empowered to dispose of a particular article at a price upto 20% below the reserve price. If it so happens that bid even upto 20% below the reserve price is not obtained, in such exceptional cases, articles would be sold in auction even at a lower price with the approval of the Commercial Officer at the appropriate level.
It has been reported that in the absence of proper definition of "Appropriate Level" the Railways are experiencing difficulty in disposing of the consignments and sometimes these remain undisposed of for years together resulting in loss of revenue as well as occupation of valuable space in goods shed/parcel office.
Board desire that the above guideline may be brought to the notice of the concerned staff and officers and its compliance ensured.
This issues with the concurrence of Finance Directorate of this Ministry.
Please acknowledge receipt of the letter.
Jt.Director Traffic Comml.(Claims)
|Copy to:-||General Secretary, IRCA, DRM's Office, State Entry Road, New Delhi w.r.t. his letter No.CT/133/1 dated 24.8.06.|