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Chennai Metro Rail Limited (CMRL) has invited online bids for an e-auction of gold and silver jewellery through MSTC. The auction catalogue lists two lots , covering a large collection of individual gold and silver articles.
According to the auction catalogue downloaded on September 5, 2026 , the e-auction is scheduled to begin on September 16, 2026, at 11 am and close at 4:30 pm on the same day.
The auction will be conducted on an “As is where is”, “As is what is”, “No Complaint” and “Caveat Emptor” basis. Prospective bidders are therefore required to inspect the materials and satisfy themselves about their condition, quality, quantity and other applicable details before placing bids.
NOTICE
| Particular | Details |
|---|---|
| Auction Number | MSTC/SRO/chennai metro rail limited/1/NANDHANAM/26-27/29378 |
| Auction Type | O-General Auction |
| Seller | Chennai Metro Rail Limited |
| Auction Platform | MSTC |
| Auction Location | Nandhanam, Chennai, Tamil Nadu |
| Inspection Period | September 1 to September 15, 2026 |
| Auction Start | September 16, 2026, 11:00 AM |
| Auction Closing | September 16, 2026, 4:30 PM |
| Auto Extension | 8 minutes |
| Total Lots | 2 |
| Lot 1 | Silver |
| Lot 2 | Gold |
| Starting Price | ₹1 per lot |
| Bid Increment | ₹1 |
| Post-Bid EMD | 25% |
| TCS | 2% |
| GST | 3% |
| Bid Validity | October 16, 2026 |
| Delivery Period | Within 15 days of Delivery Order |
The Chennai Metro Rail Limited e-auction has two lots.
The first lot consists of silver articles listed in the annexure. The catalogue contains 452 individually numbered silver items , including:
The listed net weights vary substantially, ranging from small jewellery pieces of around 0.5 gram to heavier items such as waist chains and anklets.
One of the notable entries is a silver waist chain with a net weight of 150 grams , while another silver-coloured anklet set has a listed net weight of 150 grams .
The second lot contains 73 gold jewellery articles . The annexure includes gold chains, rings, earrings, bracelets, pendants, nose pins and other ornaments.
The catalogue lists items such as:
The listed net weights range from small pieces of 0.1 gram to heavier jewellery pieces. Based on the individual net-weight figures supplied in the catalogue, the 73 listed gold items amount to approximately 254.4 grams of stated net weight .
Important: The catalogue's lot description contains a wording inconsistency for Lot 2, where the generic description mentions silver anklets and bracelets even though the lot is categorised as Gold and its annexure is explicitly titled GOLD ITEMS . Bidders should rely on the final live-auction catalogue and annexure before bidding.
One of the notable features of the catalogue is the displayed starting price of ₹1 for both Lot 1 and Lot 2.
The bid increment is also specified as ₹1 .
However, the ₹1 figure should not be interpreted as the expected purchase price. The final sale value will depend on the bids received during the live e-auction.
Successful bidders have to deposit a Post Bid EMD equivalent to 25% of the basic bid value .
The catalogue specifies that the EMD must generally be deposited within 7 days from the date of acceptance of the lot , unless otherwise specified.
The balance payment is required within the stipulated 15-day full-payment period from the date of acceptance, subject to the detailed terms of the auction.
The EMD is adjustable towards the material value only after the required balance material value and applicable duties and taxes have been paid.
Failure to pay the EMD within the stipulated period can result in automatic deactivation of the bidder's MSTC account and forfeiture consequences as prescribed under the auction terms.
The catalogue mentions:
Applicable statutory taxes and duties are payable by the buyer according to the rates applicable on the date of actual physical delivery.
The auction catalogue also states that the displayed tax rates are indicative and that changes in applicable statutory levies can be charged to the buyer.
The inspection schedule is from September 1 to September 15, 2026 .
Prospective bidders are advised to inspect the material before submitting bids. The auction conditions make it clear that bidders are responsible for satisfying themselves about the nature, quality, quantity, physical condition, technical specifications, taxes, duties and legalities of the material.
Any discrepancy should be brought to the notice of the seller or MSTC at least three days before the auction start date .
Once a bid is submitted, bidders are presumed to have inspected and accepted the material.
The auction lots are located at:
Chennai Metro Rail Limited, Nandhanam, Chennai, Tamil Nadu.
The seller's address in the catalogue is:
Nandhanam Metros, No. 327, Anna Salai, Chennai – 600035, India.
The catalogue provides the inspection contacts as 9600219794 and 9841507044 .
The scheduled closing time is 4:30 pm on September 16 .
However, the auction includes an 8-minute automatic extension . If a bid is received during the relevant auto-extension period, the closing time for that lot can be extended by eight minutes from the time of the latest qualifying bid.
The process continues until the applicable closing condition is met.
After the successful bidder completes the required balance payment along with applicable taxes and duties, MSTC will issue a digitally signed Delivery Order .
The catalogue specifies that delivery of the material must generally be taken within 15 days of issue of the Delivery Order .
Any delay in lifting the material beyond the permitted period can attract ground rent at 1% per week plus applicable GST , subject to the detailed auction conditions.
The buyer is also responsible for arranging personnel and other requirements connected with removal and transportation of the material.
The MSTC catalogue contains several important conditions that bidders should understand before participating.
Bidders cannot retract a bid once it has been submitted.
The bidder is responsible for checking the bid amount, number of digits and other details before clicking the bid button.
MSTC and the seller reserve the right to accept or reject bids, withdraw material, postpone or cancel the auction according to the applicable terms.
The final auction catalogue available under the live auction section on the auction date will be treated as final and binding.
Interested buyers must be registered with MSTC as buyers for e-auctions before the commencement of the auction.
The basic process is:
For auction-related assistance, the catalogue provides the following MSTC contacts.
MSTC Officer: Remil Rashid
Email: [email protected]
Phone: 9946473645
MSTC Officer: M Nishanthi
Email: [email protected]
Phone: 9566149589
MSTC Helpdesk: 07969066600
Email: [email protected]
The auction is particularly significant because it combines gold and silver jewellery into two large lots , with hundreds of individual articles listed in the annexures.
However, bidders should not rely solely on photographs or catalogue descriptions. The auction conditions specifically state that photographs, where available, are only for reference.
Before bidding, buyers should verify:
The auction is conducted on a Caveat Emptor basis , making physical inspection particularly important.
