Section 46 in Orissa Minor Minerals Concession Rules, 2004
46. Lower auction price.
- Where the auction price falls short of the upset price, the competent authority conducting the same, shall refer the matter to the next higher authority for approval before finalising the same. In such case, where the higher authority is satisfied with the bid amount according to local conditions prevailing at the time of sale, he may approve the sale. If he is of the view that the price is lower than what it ought to be, he may order resale/re-auction. In the latter case, the bid sheets shall again be submitted to the higher authority for confirmation.
