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[Cites 0, Cited by 0] [Section 51] [Entire Act]

State of Karnataka - Subsection

Section 51(5) in The Karnataka Minor Mineral Concession Rules, 1994

(5)Where the highest bid in an auction sale is complete in all respects and is equal to or exceeds the minimum grade-wise price specified in SCHEDULE-3 the authorised officer shall accept the bid if it is within his power of sanction as specified in SCHEDULE-4 and shall issue confirmation or acceptance order:Provided that if the bid, the value of which is not within the power of sanction of the authorised officer he shall, on the same day or the next working day submit to the concerned confirming authority specified in SCHEDULE-4 the sale records along with his opinion on the quality of material offered as per Form-O, on the general result of the sale, the demand for specified variety or type of minor mineral amongst the lots offered for auction sale and any other relevant information gathered during auction, for confirmation and acceptance of the bid. The confirming authority shall, on accepting the bid, issue confirmation or acceptance order.