Auction fetches 8.66 cr

In order to maintain law and order before the office of the Mohali Municipal Committee where the auction was conducted, a strong contingent of the police force was deployed. However, no untoward incident was reported during the auction.

According to sources, ten firms from Mohali, Rajpura, Kharar and Chandigarh came forward for the bid by depositing Rs 5 lakh each to the municipal committee.

Before the auction, the terms and conditions for octroi collection were announced publicly so that the bidders were given an opportunity to raise objections, if any. However, no objection was raised by the bidders, the officials added.

The auction of the octroi collection was finally awarded to a local contractor M s Avtar Singh and Company as his bid was highest. His bid was Rs 8.66 crore against the reserve price of Rs 8.64 crore, said MC Executive Officer K. S. Brar.