Bidder Registration    Pre Bid EMD    Authorized Officer's functionalities

Ans: Registration at MSTC portal -> Authorization of documents from MSTC -> Attach interested properties -> Pay Pre-Bid EMD required against property -> Participate in auction (bidding) -> Bid reject/accept by bank -> decision email to H1 bidder.

Ans: Go to website https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp
'Click here for register'->complete online form->Login at website->Upload KYC documents->Documents authorization by MSTC.

Ans: Yes, You may participate. Please register under group of individuals after OTP validation during registration. Group of two members and more will authorize a lead member of group. The lead member will register at the portal and add name of other member in his registration profile. All the group members shall authorize lead member in format available on website and upload.

Ans: Yes. Registration can be done using unique e-mail ID and mobile number.

Ans: At present there is no registration fee.

Ans: Property details are available at website https://ibapi.in/
The details of property fetched to MSTC website one day prior to schedule date of auction. Bidder may add the property ID in 'Interested property' option through their login.

Ans. It might be possible because of the password was forgotten. You may reset the password using option 'Forgot Your Password?' available on login page.
For any assistance email ibapiop@mstcecommerce.com with bidder registration number
Or
Call Helpdesk Number: 033-40645207, 40609118, 40645316, 22831002, 22891401, 22891005, 22901004, 22895064

Ans: Generate a challan through your login for requisite pre-bid amount. Only NEFT can be done for Pre-Bid EMD. No other mode of payment is accepted for pre-Bid EMD. On successful transaction, amount will be updated in 'EMD Ledger' in your login. It may take 3-4 hours to update amount in Ledger after transaction. Bidder can only participate after requisite Pre-Bid EMD in his ledger. No requirement of property details for generation of NEFT challan.

ANS: Yes. You have to generate a fresh NEFT challan for each transaction and the amount should be paid via NEFT only. Please do not reuse any Challan or use a challan which was generated 72 hours ago.

Ans: 10% of property reserve price to be deposited as a pre-bid EMD or as mentioned against the property by the concerned bank.

Ans: In case of successful transaction, EMD gets updated in the bidder’s wallet normally within 3-4 hours once it is credited in MSTC banker’s account (i.e. in Allahabad bank). There is no manual intervention for updating the Bidder’s Wallet as it is totally system driven.

Ans: Re-attempt of fund transfer can be done by generation of fresh bank challan every time through NEFT mode only.

Ans: It’s valid and fund transfer can be done without hesitation.

Ans: Pre-bid EMD will be returned to EMD Ledger after decisions by bank in case of you are not H1. Please upload RTGS mandate form and cancelled check through your login. MSTC will validate the form and you may raise refund request. The amount will be refunded to your bank account mentioned in RTGS mandate.

Ans: EMD is deducted from the ledger of a bidder even if not a highest bidder because EMD amount of all participating bidders for a property shall remain blocked from the time first bid submission by the bidder till the property is approved by AO in the system. After the approval of AO only the H1 bidder or as decided by AO, the deducted EMD in the ledger again credited back in the ledger of the non-allotted/ unsuccessful parties. After that the party is eligible to place refund request for the earlier blocked EMD amount.

ANS: Yes. The EMD deposited is a global EMD, it will be available in your wallet (EMD Ledger) and can be utilized to bid for any property of your choice as long as your wallet has an EMD amount available for bidding which is greater than or equal to the required EMD for the target property.

Ans: a) Only NEFT can be done for valid transaction even in case of amount more than 2 Lakh.
b) The challan is valid for only 72 hours for valid transaction. In case of failure of transaction, fresh challan is required for each new transaction.
For any assistance email ibapifin@mstcecommerce.com with bidder registration number
Or
Call Helpdesk Number: 033-40645207, 40609118, 40645316, 22831002, 22891401, 22891005, 22901004, 22895064

Ans. Please use internet Explorer version 10 and above. DSC registration instruction is given in login of Authorized Officer.

ANS: Please login to www.mstcecommece.com/auctionhome/ibapi as AO using the AO user id and password provided by IBAPI. Register your Digital Signature from register DSC link, once done successfully go to 'Pending property Decision Link' select property from dropdown and proceed to check the bidders/winners documents then approve or cancel bid. During Approval/cancellation process on pressing the submit button system will verify your Digital Signature and update the Approval Status accordingly giving a suitable message. Only concerned AO of the respective property can do it.

ANS: If the property has already shifted to www.mstcecommerce.com portal and the auction is yet to start then please logon to www.mstcecommerce.com/auctionhome/ibapi as AO using the AO user id and password provided by IBAPI. On successful login go to 'Withdraw Property', choose the required property and withdraw it using your DSC. Only concerned AO of the respective property can do it. In case the property is still at https://www.ibapi.in portal please login to https://www.ibapi.in and do the needful.

ANS: After conclusion of the auction you have to login at MSTC portal. Approve the bid received on the property. After this the 10% EMD amount deposited by bidder will get transferred to the account associated with the property and the bidder will get a sale confirmation mail from system in which the instruction regarding payment of the balance amount will be detailed. The bidder is supposed to follow the instruction by depositing the balance amount in a timely fashion in the account associated with the property.

Ans. There is no time-line to approve or reject property. However, feed your decision at the earliest. System locks pre-bid amount of all the bidders and release after decision through AO login at MSTC portal. In case of approval, system will retail pre-bid amount of H1 bidder and forwarded to bank account associated with property and returned to all non H1 bidder in their EMD ledger. In case of rejection, returned to all bidders.

Ans: As per provision of 194O of IT act, TDS amount of 1% of sale value will deducted by auctioneer and deposited with IT Dept. against PAN of Seller. 25% discount is given till 31st March, 2021. Hence effective TDS rate is 0.75% of sale value. 0.75% of total bid value is deducted by MSTC and rest amount forwarded to BANK. Differential amount is TDS amount u/s 194O of IT act.
For any assistance email ibapiop@mstcecommerce.com
Or
Call Helpdesk Number: 033-40645207, 40609118, 40645316, 22831002, ,22891005, 22901004, 22895064