Auction Rules and User Agreement
On accessing www.auctionindia.com, owned by TVS Electronics Limited,
you automatically enter into the user agreement on the terms and conditions set out below.
This Agreement applies for an indefinite term.
User Registration:
Auction on the site is available only to businesses who can enter into legal contracts.
Persons registering warrant that they provide accurate information.
TVS Electronics Limited reserves the right to disapprove your registration or terminate your use of the site
for any reason at any time.
User name and Password:
You are solely responsible for all use and for protecting the confidentiality of
your user name and password and e-mail address. www.auctionIndia.com is only a Venue:
The Site is only a venue for registered sellers to conduct sale of investment
assets and property, and for buyers to make offers on such property. TVS Electronics Limited is not
involved in the actual transactions between buyers and sellers and therefore, no control over the
quality, safety or legality of the items advertised, the truth or accuracy of the listings, the ability
of sellers to sell items or the ability of buyers to buy items.
In the event that you have a dispute with another User (whether a buyer or seller),
you hereby release TVS Electronics Limited, its directors, officers, employees and agents from and
against any and all claims, demands and damages (actual and consequential) of every kind and nature,
known and unknown, suspect and unsuspected, disclosed and undisclosed, arising out of or in any way
connected with such disputes. In no event will TVS Electronics Limited be liable for any damages or
losses experienced through the use of this website regardless of whether TVS Electronics Limited knew
or should have known of the possibility of such damages or losses.
Auto Extension Feature: The auction will get closed on the scheduled closing time indicated in the
site if there are no bids in the last 10 minutes. If there is a bid in last 10 minutes before the
scheduled closing time. The auction closing time will get extended by another 10 minutes from the
bid time. The auction will get closed if there are no bids / bid attempts in the auto extension
period (extended 10 minutes). If there is a bid the auction continues till we reach 10 minutes
of No / Nil Activity.
Warranty:
Auctionindia.com is an online auction portal.
We are not responsible for the merchantability or fitness of any item on this service.
The buyer and seller assume all risk associated with the use of this system.
TVS Electronics Limited is not responsible for any damages, including damages that result from,
but are not limited to negligence. TVS Electronics Limited will not be held responsible for
consequential damages, including but not limited to: system problems, inability to use the system,
loss of electronic information which affect the auction, acts of god, nor any other act beyond our
reasonable control. Users of auctionindia.com agree to indemnify and hold harmless,
TVS Electronics Limited, it's owners and agents for any incident of loss or damage as a
result from using this system.
No shill bid Test:
Sales price manipulation of any kind directly or indirectly by communication with
other buyers as well as by shill bidding is prohibited.
Taxes:
You acknowledge and agree that TVS Electronics Limited does not take any responsibility to calculate,
report or remit sales or any other taxes which may be assessed or owing to the Taxing Authorities
of any jurisdiction for transactions that arise in connection with the use of the site.
Changes:
TVS Electronics Limited may, in its sole discretion, change, add or remove any portion of this Agreement,
at any time, by posting a new Agreement to the Site. Your continued use of the Site after changes are
posted will constitute your agreement to such changed Agreement.
Deemed Agreement:
Any person who accesses this site to buy, sell or bid for goods or to use the other services are
deemed to have accepted the terms and conditions of this agreement and be further bound by the Disclaimer.
Online Bidding Event(OBE)
An Online Bidding Event (OBE) is essentially a process for price determination through an online,
real time and competitive interaction between participants who bid (bidders).
Disclaimer
TVS Electronics Limited (www.auctionindia.com) functions exclusively as an information
intermediary between those who initiate Online Bidding Events and those who respond to such events by
participation. As an intermediary, TVS Electronics Limited makes no warranty, express or implied,
of any of the listed Item's merchantability and/or fitness for a particular purpose.
All specifications and descriptions quoted herein are representations of those who initiate the
Online Bidding Events and TVS Electronics Limited accepts no responsibility for any errors or omissions.
All of the Items offered herein are subject to prior sale or withdrawal by the owners.
All buyers and sellers who are exposed to each other through this site must exercise normal
commercial caution in mutual dealings and TVS Electronics Limited accepts no responsibility for any
wrongdoing by any side.
Privacy
At AuctionIndia.com, we are dedicated to protecting your privacy and safeguarding
the personal information you provide to us. When you access our industrial online auction platform,
we may collect certain personally identifiable information (PII) from you, such as your name,
contact details, and email address, to enable smooth registration and participation in our auctions.
We may also gather non-personal information, including IP addresses and device information, for analytical
purposes. Rest assured that any information collected will be used solely for facilitating your auction
participation, delivering customer support, enhancing our services, and sharing important updates and
promotions. Please note that we may engage trusted third-party service providers to assist us in operating
our website and delivering our services, and your information may be shared with them solely for those
purposes. We assure you that your privacy is of utmost importance to us, and we take all necessary measures
to protect your information from unauthorized access or disclosure.
Rules for Advertiser
TVS Electronics Limited shall not be held responsible for any advertiser's claims, error, omission or
inaccuracy in advertising material, and has the right to omit, suspend or change the position of any
advertising material submitted for insertion.
Registration and Access
Each registration is separate for every user. To access certain parts of the Site you are required to enter your individual
User Name and Password.
Therefore we do not permit any of the following:-
- Sharing your User Name and Password.
- Any part of the Site being cached in proxy servers and accessed by Individuals who have not registered with www.auctionIndia.com as
users of the Site.
- Multiple users on a network accessing through a single User Name and password
If we have reason to believe that a User Name and Password are being used in any of these ways,
we reserve the right to cancel access rights immediately without notice, and block access to all
users from that IP address.
Right to change the Agreement
Changes, if any, will be posted to our site
http://www.auctionindia.com
and it is your responsibility as a user to refer to the terms on accessing this service.
Any changes made by us after the first posting will have to be accepted if you continue to
access the Site after that time.
Force Majeure
TVS Electronics Limited shall have no liability to you for any interruption or delay in access to
the Site irrespective of the cause.
Indian Law
The Agreement will be governed by Indian Law. The Chennai courts will have exclusive jurisdiction over any disputes
arising under this agreement