Section 18 in Andhra Pradesh Excise (Lease of right of selling by shop and conditions of licenses) Rules, 2005
18. [ Payment of the lease amount by the Auction Purchaser. [Substituted as per G.O.Ms.No.598, Rev(Ex-II), dated 26.5.2006.]
- The lease amount shall be paid in Six equal instalments. The auction purchaser shall pay the first instalment sum equal to 1/6th of the lease amount for the shop on the day of the auction immediately after acceptance of the tender. The Demand Draft(s) furnished by the auction purchaser as earnest money may be adjusted towards the above. In case of failure to remit 1/6th of the lease amount on that day the shop shall be allotted to the next highest tenderer if the tender amount is equal to or higher than the up-set price or be re-auctioned as the case may be. In the event of re-auction, if it results in monetary benefit to the Government, the original auction purchaser shall have no claim over it. If it results in monetary loss due to allotment to the next highest tenderer or re-auction or the right remain unsold for want of tenderers, the original auction purchaser shall be liable to pay to the Government the resultant loss.]
