Section 22(3) in Tamil Nadu Panchayats (Procedure for Conducting Public Auction of Leases and Sales in the Panchayats) Rules, 2001
(3)On the day and time fixed for the conduct of auction, strictly observing all the formalities and subject to the terms and conditions mentioned to take action under current notice, the Executive Authority or the Commissioner or the Secretary, as the case may be, shall commence the auction proceedings, conduct and complete the auction or sale of each item one by one and simultaneously completing the records of auction or sale and obtain necessary initial amount from the successful bidders at the time appointed for the opening of the tenders. The tenders received up to the prescribed time and date shall be opened and the amount quoted therein in respect of each item shall be read openly at the meeting of bidders and tenderers. The tender details may be entered in the register of tenders maintained for that purpose. After completing all the formalities, the Executive Authority or the Commissioner or the Secretary, as the case may be, shall place before the concerned Panchayat, the records of auction and of tenders for approval. The Panchayat shall have power, either to decide the higher bid in an auction or quoted in tender or any suitable bid or tender amount which is next to the highest amount. In case, it accepts a lower amount than the highest tender or the auction amount, the reasons for the same shall be specifically recorded in the minutes of the meeting.
