Rs 1,016 cr record bid for Bharat Mills

Mumbai: Online bidding for Bharat Textile Mills, owned by the National Textile Mills, started on Wednesday, with bids touching a record Rs 1,016 crore. The reserve price for the 8 - acre mill at Worli was fixed at Rs 750 crore and there are still two days for bidding.

The online auction of Bharat Textile Mills kicked off on Wednesday with a record bid of Rs 1,016 - the highest - ever for any individual property owned by the National Textile Mills (NTC).

Mill e-auction faces roadblock

Disqualified bidder for Bharat Mills land approaches BIFR, questions role of Ahmedabad-based bid conductor

The first-ever e-auction for the sale of land of two closed mills - Bharat and Poddar - at Worli owned by the National Textile Corporation setback on Thursday. While Poddar Mills has already been cleared for an e-auction sale, the Board for Industrial & Financial Reconstruction (BIFR) issued orders that the Bharat Mills online sale will be subject to confirmation from the Asset Sale Committee (SAC) and the board.

NTC eyes big money e-auction of Worli land

July 06, 2010

Sumant Banerji

NEW DELHI:

The state-owned National Textile Corporation (NTC) is in the process of undertaking the largest ever e-auction of land in the country, when its 8-acre plot in Mumbai's prime Worli area goes under the hammer in the last week of July.

The PSU will also sell 205 acres in an adjacent plot at the same time. The reserve price for the plots has been fixed at Rs 750 crore and Rs 250 crore respectively, but if recent deals in the metropolis are anything to go by, the actution is likely to fetch far more.

Argentina a hit on e-Bay India

July 01, 2010

Messi continues to weave his magic on the field and off it this World Cup. eBay India has revealed that, Indians on eBay are giving Argentina a resounding cheer. Their blue and white jersey is the most popular merchandise bought.

Germany was in second place followed by England and Brazil.

NTC Plans to sell Poddar mill online

Rajshri Mehta

The National Textile Corporation (NTC) Ltd plan to will sell its 2.5 acre Poddar Processors textile mail at Worli Naka through an e-auction.

The move comes following the Board for Industrial and Financial Reconstruction's (BIFR) suggestions by to auction off the property online. The e-auction - expected to be called sometime in late June - will have a reserve price of over Rs200 crore.

With the e-auction, NTC wants to test a system that will allow all qualified bidders to track the process in real time. Senior NTC officials say they are working on the bid document for the e-auction and hope to issue it in the first week of June.

Meanwhile, the NTC also issued bids to sell its eightacre Bharat textile mill through a regular auction at a reserve price of Rs750 crore. Property experts say the average asking price for the land is roughly over Rs22,000 per sq ft.

A senior official from Jones Lange LaSalle Meghraj said the bid may not receive a huge response if the developer was asked to develop the mill only for residential purpose. "The bids will be huge only if the land is used to construct a hotel as one can then avail a floor space index of 5," the official said.