Section 15(7) in Rajasthan Minor Mineral Concession Rules, 2017
(7)During e-auction process, the qualified bidder will be able to submit its Final Price Offer as many times as it wishes against the same mining lease, quarry licence, royalty collection contract, or excess royalty collection contract. The qualified bidder shall remain anonymous to other qualified bidders participating in the electronic auction process as well as to e-auction service provider or Government. The qualified bidder will be able to see the prevailing highest Final Price Offer against the mining lease, quarry licence, royalty collection contract or excess royalty collection contract, but the name of the highest qualified bidder at any point of time shall not be displayed. The qualified bidder shall have to put its Final Price Offer over and above the displayed highest bid by a minimum increment as mentioned in notice inviting bid (NIB) to become the highest qualified bidder. The electronic auction process will have a scheduled start and close time which will be displayed on screen. The qualified bidder shall be able to put its Final Price Offer after the start of bid time and till the close time of electronic auction. The current server time (IST) will also be displayed on the screen. In the event a Final Price Offer is received during the last eight minutes before the scheduled close time of electronic auction, the close time of electronic auction will be automatically extended by eight minutes from the last received bid time to give equal opportunity to all other qualified bidders. This process of auto extension will continue till no Final Price Offer is received during a period of eight minutes.Explanation: - For example, assuming that the initial scheduled close time for a particular electronic auction is 1:00 pm and a Final Price Offer is received at 12:55 pm, the scheduled close time shall be extended to 1:03 pm. Again if a Final Price Offer is received at 1:01 pm, the scheduled close time shall be extended to 1:09 pm and so on. In the event that no further Final Price Offer is received till 1:09 pm, the electronic auction will close at 1:09 pm. The extended close time will be displayed on screen and the qualified bidders are advised to keep refreshing its webpage to get the latest information.
