Exhibition ground auction: Highest bidder disappears,

Auction of the exhibition ground in Sector 34 held by the Municipal Corporation on Wednesday turned out to be a flop show with the person bidding the highest amount vanishing without paying the requisite amount. The ground would be re-auctioned on Thursday.

The auction of the exhibition ground is an annual feature. A diwali mela is held every year at the site. This year the festival was to start on October 8. The civic body organised the auction and the reserve price was fixed at Rs 7 lakh. Nine bidders participated in the auction. The site was auctioned for Rs 11.56 lakh to Roop Kishore a bidder from Meerut . As per rules the bidder has to pay 25 per cent of the bidding amount after the auction. But the bidder simply vanished after he won the bid. His security deposit of Rs 50,000 stands forfeited.

Vinod Verma,who had come from Delhi for the auction said,“Initially the auction was to held on September 22,but it was postponed. When today the auction was held the highest bidder just vanished,without paying the requisite amount. This is causing harassment to us.”

Joint Commissioner T P S Phoolka said the time limit given for submission of the bid amount has passed and a re-auction will be held on October 1.