Section 20 in Andhra Pradesh Pawn Brokers Rules, 2007
20. Procedure in Auction of Pledges.
- The following procedure shall be observed with reference to the sale by public auction of pledges:-(1)The auctioneer to whom the sale of a pledge by auction is entrusted shall be a person approved by the Licensing Authority.(2)The auctioneer shall cause all pledges to be exposed to public view.(3)(i)The auctioneer shall print and publish a catalogue of the pledges to be sold in auction with the following particulars:-(a)The name, place of business and licence number of the pawn broker concerned;(b)Date of loan;(c)Number of pledge in pledge book;(d)Full and detailed description of the article including weight in the case of jewels.(e)Name and address of pawner; and(f)Date, hour and place of sale.(ii)The printed catalogue referred to in sub-rule 3(i) shall be published in the following manner:-(a)A copy shall be pasted at the place of business of the Pawn Broker concerned;(b)A copy shall be given to the intending bidders;(c)A copy shall be posted to the Pawner by Register Post With Acknowledgement Due;(d)A copy shall be sent to the Licensing Authority and to the Tahsildar' concerned.(iii)The auctioneer shall send at least a week before the date fixed for the sale-(a)Two copies of the printed catalogue to the police station having jurisdiction over the premises where the auction is to be held, one copy for being pasted on the notice board of the police station and another copy for record at that police station; and(b)One copy of the printed catalogue to the Police Station or each of the police stations having jurisdiction over the place of the business of the Pawn Broker concerned for record at such police station.(c)A copy of the printed catalogue by registered post to the pawner.(4)The pledges of each pawn broker in the catalogue shall be separate from the pledges of any other Pawn Broker.(5)The auctioneer shall insert in some public local newspaper both in Telugu and English approved by the Commissioner of Police in the Municipal Corporations of Hyderabad, Visakhapatnam and Vijayawada etc. or by the District Magistrate elsewhere, and advertisement giving notice of the sale and stating:(a)The Pawn Broker's name and place of business and(b)The months in which the pledges were pawned.(6)The advertisement shall be published for two successive days in the same news paper and the second advertisement shall be published at least ten clear days before first days of sale.(7)No Pawn broker or his agent shall bid for and purchase at a sale by public auction conducted under subsection (1) of Section 13, a pledge pawned with him.(8)The auctioneer shall, within fourteen days after the sale, deliver to the pawn brokers a copy of the catalogue or of so much thereof as relates to the pledges of that pawnbroker, filled up with the amount for which the several pledges of that pawnbroker were sold as well as the charges for the sale of each of them and authenticated by the signature of the auctioneer.(9)The Pawnbroker shall, after receipt of the auction particulars, deliver a copy duly indicating the details and the excess amount to be paid to the Pawner with proper acknowledgment.(10)The Pawnbroker shall preserve every such catalogue for at least three years after the auction.
