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[Cites 0, Cited by 0] [Section 10(3)] [Section 10] [Entire Act]

State of Chattisgarh - Subsection

Section 10(3)(v) in Chhattisgarh Vishesh Kshetra (Achal Sampatti ka Vyayan) Niyam, 2008

(v)When the highest bid is accepted for consideration of acceptance by the Chief Executive Officer, the bidder shall forthwith deposit Thirty percent of the bid amount as advance deposit and the security deposit of other bidders shall be refunded. On acceptance of the highest bid by the Authority, the highest bidder shall deposit in the office of the Authority the balance amount in cash or by bank draft within Thirty days from the date of intimation of acceptance. If such amount is not deposited within the stipulated period, the amount of security advance deposited by the highest bidder shall be forfeited.