Section 7 in The M.P. Krishi Upaj Mandi (Allotment of Land and Structure of Market Committee/board) Rules, 2005
7. Registration for land Allotment.
(1)Every person, firm, institution or agency etc., desirous to take land or structure shall have to deposit for registration, an amount equivalent to two percent, of the fixed minimum premium as security, at least a day before the date fixed for auction/tender in the office of Market Committee.(2)Acceptance of security amount shall not be considered to be a liability upon the Market Committee to allot the land to the person or firm depositing it at the time of auction/tender.(3)The bid for auction shall Start over and above the fixed minimum premium.(4)No interest shall be paid on the security amount deposited for registration, in the final auction, deposits made by the person/firms etc., making the highest bid shall be retained and the amount deposited by others as security, shall be refunded by Market Committee within a week from the date of conclusion of the auction/tender process.(5)If the bid in auction/tender is accepted in favour of person/firm the reasons shall be mentioned in a resolution of the Market Committee and the amount deposited, as security will be adjusted against the premium amount.
