In the fifth round of e-auction conducted by the UT Excise and Taxation Department, 11 liquor vends remained unsold out of the 17 units put on sale. The department successfully auctioned six vends, earning a revenue of Rs 39.60 crore, significantly surpassing the reserve price of Rs 24.32 crore.
The highest bid of Rs 10.95 crore was placed for a liquor vend located in the Sector 22-C market, against a reserve price of Rs 4.13 crore. The second-highest bid of Rs 10.50 crore was received for the vend in Sector 22 market, near the bus stand, with a reserve price of Rs 3.26 crore. The third-highest offer of Rs 6.21 crore was made for the Sector 40-C market vend, which had a reserve price of Rs 6.03 crore.
However, despite the successful auctioning of six vends, 11 units still failed to find buyers in this round. The department had faced a similar situation in the fourth round of auction on May 8, when 10 vends remained unsold. In that round, the department auctioned 11 units and earned Rs 60.76 crore, surpassing the reserve price of Rs 47.97 crore.
Additionally, the department has blacklisted seven highest bidders who failed to deposit the required security money within the prescribed deadline for various retail sale licensing units auctioned recently. These seven defaulters were linked to four units in Sector 22, as well as one each in Sector 20, Industrial Area Phase I, and Manimajra opposite Shivalik Garden.
An official from the department stated that the non-payment of security money raised concerns about the genuineness of the bids and disrupted the auction process, adding that such conduct reflects a lack of seriousness and financial intent by the bidders.
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