AuctionIndia.com - The Hindu

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The Hindu

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Thursday, August 12, 1999

The city-based Cyber Commerce Pvt. Ltd., an associate of the San Jose based Cybernet Software Systems, has launched a web-site www.auctionindia.com, for auction and sale of industrial assets such as machinery, plant or total factories and businesses.

At a press conference held here, Mr. C. E. Karunakaran, Co- promoter, said the web site
would create efficient communication between the holder of an investment asset and its most suited future user.

AuctionIndia at present offers free listing to buyers and sellers of plant, equipment, machine, whole factory or business. It offers two methods of sale to the user - a negotiated sale between the parties and an auction sale.

Mr. Shiv Kumar, Vice-President and Co-founder, Cybernet said such online auctions offered the advantage of flexibility and convenience to bidders.