SIGNING OF MOU FOR e-AUCTION SERVICES BETWEEN MSTC LIMITED AND GOVT. OF TELANGANA

Hyderabad, 05^th October, 2015

Sale of scrap, human hair, ores & minerals, forest produce etc will be done through e-auction by the Telangana government with the support of MSTC, a Central government unit. A memorandum of understanding between the two was signed with the latter being appointed the service provider for the e-auction.

Consequently, products like agricultural goods, immovable properties, including government land parcels, industrial goods etc will be put through the forward e-auction route and e- reverse auction services for purchase of various types of goods, services, plant & machinery.

The MoU was signed by Jayesh Ranjan, Secretary (IT), Government of Telangana and S K Tripathi, Chairman and Managing Director, MSTC.

MSTC is successfully conducting e-auction of de-allocated coal blocks for Government of India which resulted in huge revenues for the exchequer.

(This article was published in the Business Line print edition dated October 7, 2015)