Latest news with #ChandigarhExcisePolicy2025-26
Time of India
24-05-2025
- Business
- Time of India
Auction of UT's unsold liquor vends resumes
Chandigarh: The UT excise department started the next round of e-auction of the remaining liquor vends here Friday. The bids will be opened on June 2. The dept could sell only two — in Sector 22 and Mauli Jagran Colony — of the 12 liquor outlets up for bidding on Thursday. On May 19, only one vend was sold. In the auction held on May 9, the department sold 11 vends, generating Rs 60 crore in revenue. The liquor vend in Sector 38-D fetched the highest bid of Rs 11.11 crore against the reserve price of Rs 6.18 crore during the auction. On April 29, of the 28 liquor vends up for grabs, seven were sold. A liquor vend in Sector 22 (on Himalaya Marg) fetched Rs 14,97,00,000 against a reserve price of Rs 7,38,63,021. Another liquor vend in Industrial Area Phase-1, Central Mall, was sold for Rs 9,55,00,000 against a reserve price of Rs 8,07,87,678. In the previous auction held on April 21, 20 liquor vends were auctioned, while there were no takers for 28 vends. tnn A total of 48 liquor vends were available for auction. A liquor vend in Sector 61 was sold for Rs 12.31 crore against the reserve price of Rs 11.57 crore in the liquor vend auction held on Tuesday. A liquor vend in village Khuda Lahora/Khuda Jassu fetched the second highest bid of Rs 10 crore against the reserve price of Rs 8.2 crore. A Sector 22-B liquor vend was sold for Rs 9.99 crore, the third highest bid for the auction, against the reserve price of Rs 4.96 crore. All the 48 vends were earlier auctioned and allotted, but later, as the contractor failed to deposit the stipulated amount, these allotments were cancelled, and the administration decided to re-auction the vends. The administration earned nearly Rs 23 crore by forfeiting the earnest money and security deposits of the cancelled liquor vends. In the auction held on March 21 under the Chandigarh Excise Policy 2025-26, the department auctioned 96 of the total 97 liquor vends. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Time of India
12-05-2025
- Business
- Time of India
Remaining 17 liquor vends in UT to go under the hammer tomorrow, excise dept eyeing big gains
Chandigarh: The UT excise department has started the process of auction of the remaining 17 liquor vends in the city. The bids for these vends will be opened on May the auction held on May 9, the department sold 11 vends, which generated Rs 60 crore revenue. The liquor vend in Sector 38D fetched the highest bid of Rs 11.11 crore against the reserve price of Rs 6.18 April 29, of the 28 liquor vends that were up for auction, seven were successfully sold off. A liquor vend in Sector 22 (on Himalayan Marg) fetched more than double (Rs 14.97 crore) its reserve price of Rs 7.38 crore. Another liquor vend in Industrial Area Phase-1, Central Mall, was sold for Rs 9.55 crore against a reserve price of Rs 8.07 the previous auction held on April 21, of the 48 liquor vends that went under the hammer, there were no takers for 28. A liquor vend in Sector 61 was sold for Rs 12.31 crore against the reserve price of Rs 11.57 crore. One in Khuda Lahora/Khuda Jassu village fetched the second highest bid of Rs 10 crore against the reserve price of Rs 8.2 crore. A vend in Sector 22B was sold for Rs 9.99 crore, the third highest bid for the auction, against the reserve price of Rs 4.96 the 48 vends were auctioned and allotted earlier. However, as the contractor failed to deposit the stipulated amount, these allotments were cancelled, and the administration decided to put them up for sale again. The administration earned nearly Rs 23 crore by forfeiting the earnest money and security deposits of the cancelled liquor the auction held on March 21 under the Chandigarh Excise Policy 2025-26 , the department auctioned 96 of the total 97 liquor vends.
Time of India
29-04-2025
- Business
- Time of India
7 out of 28 liquor vends auctioned in Chandigarh
Chandigarh: Of the 28 liquor vends up for auction, seven were successfully sold in the e-auction which concluded here on Tuesday. A liquor vend in Industrial Area, Phase 1, fetched Rs 15 crore against the reserve price of Rs 9.23 crore, the highest price in the auction. A liquor vend in Sector 22 (Himalaya Marg) fetched Rs 14.9 crore against a reserve price of Rs 7.3 crore. Another liquor vend in Industrial Area, Phase 1, Central Mall, was sold for Rs 9.5 crore against a reserve price of Rs 8.07 crore. In the latest auction held on April 21, 20 liquor vends were auctioned, while there were no takers for 28. A total of 48 liquor vends were available for auction. A liquor vend in Sector 61 was sold for Rs 12.31 crore against the reserve price of Rs 11.57 crore in the auction held on Tuesday. A liquor vend in Khuda Lahora/Khuda Jassu village fetched the second highest bid of Rs 10 crore against a reserve price of Rs 8.2 crore. A Sector 22 B liquor vend was sold for Rs 9.99 crore, the third highest bid for auction, against the reserve price of Rs 4.96 crore. All the 48 vends were earlier auctioned and allotted, but later, as the contractor failed to deposit the stipulated amount, the allotments were cancelled and the administration decided to re-auction the vends. The administration earned nearly Rs 23 crore by forfeiting the earnest money and security deposits of the cancelled liquor vends. In the auction held on March 21 under the Chandigarh Excise Policy 2025-26 , the department auctioned 96 out of 97 liquor vends. MSID:: 120733433 413 |
Time of India
21-04-2025
- Business
- Time of India
Chandigarh excise dept manages to auction only 20 out of 48 liquor vends
1 2 3 Chandigarh: The UT excise and taxation department managed to sell only 20 out of 48 liquor vends during the auction. The department plans to conduct another round for the remaining vends. They generated Rs 131 crore in revenue, surpassing the reserve price of Rs 109 crore, which was established based on previous highest bids. All these vends were earlier auctioned and allotted, but later, as the contractor failed to deposit the stipulated amount, these allotments were cancelled, and the administration decided to re-auction the vends. The administration earned nearly Rs 23 crore by forfeiting the earnest money and security deposits of the cancelled liquor vends. During Tuesday's auction, a Sector 61 liquor vend was purchased for Rs 12.31 crore, exceeding its reserve price of Rs 11.57 crore. A vend in village Khuda Lahora/Khuda Jassu received the second-highest bid at Rs 10 crore, above its Rs 8.2 crore reserve. The third-highest bid went to a Sector 22-B vend at Rs 9.99 crore, significantly higher than its Rs 4.96 crore reserve price. At the March 21 auction under the Chandigarh Excise Policy 2025-26 , 96 of 97 liquor vends were sold. The department received 228 electronic tenders/bids for these units, with a reserve price of Rs 439.29 crore. They collected Rs 606.43 crore in licence fees, showing a 36% increase over the reserve price, plus Rs 4.56 crore in participation fees. Village Palsora's vend received the highest bid of Rs 14 crore, exceeding its Rs 10.22 crore reserve price. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The Chandigarh Wine Contractors Association contested the auction process in the Punjab and Haryana high court, citing concerns about cartelisation. They claimed that 87 of 96 vends were allocated to just two or three individuals operating through various firms, relatives, associates, and employees. While the high court initially stayed the auction, the Supreme Court later lifted the stay, directing the high court to resolve the matter. The next hearing is set for April 24. MSID:: 120492850 413 |
