Liquor vends auction in UT on May 27 | chandigarh | Hindustan Times
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Liquor vends auction in UT on May 27

UT excise and taxation department will hold the auction of liquor vends on May 27 at Government Medical College and Hospital, Sector 32, at 11am.

chandigarh Updated: May 15, 2014 21:23 IST
HT Correspondent

UT excise and taxation department will hold the auction of liquor vends on May 27 at Government Medical College and Hospital, Sector 32, at 11am.

Liquor traders can submit their bids till 5pm on May 26. This year, the administration has decreased the number of retail sale vends from 217 to 173, which will be granted license by inviting sealed tenders for a period of ten months. Out of the 173 vends up for sale, 123 are Indian made foreign liquor (IMFL), and the remaining 50 are country.

The new policy announced on May 12 will remain in force for a period of ten months commencing from June 1. In this policy, the administration has increased the earnest money to be paid along with application by the traders.

For vends upto `60 lakh, the earnest money has been increased from `7 lakh to `10 lakh, while in case of vends worth up to `1 crore, the earnest money has been enhanced from `10 lakh to `20 lakh.

Similarly, for vends above `1 crore to `1.5 crore, the earnest money has been increased from `13 lakh to `30 lakh. For shops above `1.5 crore to `2.5 crore, the earnest money has been increased from `25 lakh to `40 lakh.

To curb monopolisation of trade by certain liquor contractors in a particular area, a waiting list of tenders will be prepared. In case a successful bidder surrenders his vend after offering a higher bid amount, his earnest money will be forfeited and the offer will be given to the second highest bidder.