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The Konkan Railway has taken the lead in selling accident-damage rolling stock through E-auction, the first on the Railways.
This follows a detailed procedure drawn by the Materials Management Department before conducting online bidding in coordination with M/s Matex Net Private Ltd., Bangalore. In this E-tendering, the tenderers are able to see the highest bid during the auction without knowing the identity of the bidder, thereby stimulating other bidders to revise their bids further.
Creation of such competitive environment in a transparent way ensures a better bargain for the seller, besides the same being fast. It also prevents cartel formation.
The Konkan Railway is now contemplating to enter into a contract for E-auction for a period of one year, which will be reviewed and extended, if required.
Earlier, in September, 2003, the Central Vigilance Commission (CVC) had given clearance to all organizations and departments in the Government to go for E-procurement and reverse auction duly ensuring transparency and fairness of the process. The Konkan Railway has ensured this.
MYS:BKS:AS
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