Section 67(2F) in The Companies (Second Amendment) Act, 2002
(2F)The advertisement inviting bids shall contain the following details, namely:-(a) name, address of registered office of the company and its branch offices, factories and plants and the place where assets of the company are kept and available for sale;(b)last date for submitting bids which shall not exceed ninety days from the date of advertisement;(c)time during which the premises of the company shall remain open for inspection;(d)the last date for withdrawing the bid;(e)financial guarantee which shall not be less than one- half of the value of the bid;(f)validity period of the bids;(g)place and date of opening of the bids in public;(h)reserve price and earnest money to be deposited along with the bid;(i)any other terms and conditions of sale which may be prescribed.
