The administration reduced the reserve price by 25% for the auction of 25 contracts.

Chandigarh | UT Excise and Taxation Department is going to auction the remaining 25 contracts for the 7th time. This auction will happen on 18th April. No takers were found for 25 contracts in the sixth auction. That's why the administration has now reduced the reserve price of these contracts by 25 percent. Although the administration had reduced the reserve price by 20 per cent for the previous auction as well, yet no one bought the contracts. So far this year only 70 contracts have been sold in the auction while there were a total of 95 contracts in the auction. The reserve price of these 25 contracts is 121.19 crores. In such a situation, if these contracts are not sold even in the 7th auction, then the administration may suffer a loss of crores. 

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