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[Cites 0, Cited by 0] [Section 59] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 59(4) in The Jammu and Kashmir Panchayati Raj Rules, 1996

(4)When the bid is closed under sub-rule (3) above it can in no case be reopened unless the closed bid is increased by an amount not less than 10% in each case or the respective previous highest bid and after the fresh bidder or bidders also deposit 10% and 25% of their respective bid/ bids with the panchayat in lieu of the security and first instalment of the auctioned respectively on the very day of his/their bid/bids :Provided no increase shall be allowed beyond 10 days of the date of closing the bid under sub-rule (2) above :Provided further that every such contract or auction in respect of a sum involving a value detailed below should be undertaken by the Panchayat after obtaining previous approval of the authority as shown against each :–
S.No. Amount Authority
1 2 3
1. Up to Rs. 5,000/- Sarpanch who shall report the matter to the Panchayat in thenext meeting.
2. Exceeding Rs. 5,000/- up to 10,000/- Panchayat by a formal resolution.
3. Exceeding Rs. 10,000/- up to Rs. 25,000/- Chairman of Block Development Council with the approval of theBlock Development Council.
4. Exceeding Rs. 25,000/- up to Rs. 1,00,000/- District Planning and Development Board.
5. Rs. 1,00,000/- and above Administrative Department with the recommendations of theDirector Rural Development.