Disposal of Red Sanders by e-tender cum e-auction and remittance of sale proceeds

GOVERNMENT OF ANDHRA PRADESH
Disposal of Red Sanders for which Government of India have accorded permission by e-tender cum e-auction and remittance of sale proceeds – Amendment– Orders- Issued

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FINANCE (TFR) DEPARTMENT
G.O.Rt.No.3089 Dated: 27.12.2014
 Read the following:-

1. G.O.Rt.No.2962, Finance (TFR) Department., Dt.15.12.2014.
2. Lr.No.6.5.2003/2014/R.S. Wood/777 ,dated:22.12.2014 from VC&MD, A.P. Forest Development Corporation Limited.
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O R D E R:
 In the G.O. read above, orders were issued for remittance sale proceeds of Red Sandersby e-tender cum e-auction and taxes thereon. The Andhra Pradesh Forest Development Corporation has beenappointed as Export Agency and sale proceed realisation agency. The agency is permitted to charge commission to the extent of 2% of the sale proceeds as subject to the maximum of Rs.5.00 Crores.

2. In the 2nd read above, the Vice Chairman & Managing Director, A.P. Forest Development Corporation Limited has requested to issue an amendment and clarifications on
the points mentioned therein. 

3. Government after careful examination of the matter hereby issue the following amendment to the G.O. 1st read above.

AMENDMENT
The following shall be incorporated after para 4 of G.O.1st read above: 

(a) The M.S.T.C shall transfer additional pre bid deposits to the A.P. Forest Development Corporation. The additional pre bid deposit shall be converted as performance deposit which shall be released to the concerned after completion of contract as per the terms and conditions of Red Sanders sale
agreement. In case of Bank Guarantees (BG) in lieu of additional pre bid deposits received and standing in the name of M.S.T.C., fresh Bank Guarantees in the name of A.P. Forest Development Corporation will be submitted by the purchasers. After fresh Bank Guarantees are received by 
A.P. Forest Development Corporation, the Bank Guarantees standing in its name of M.S.T.C. will be returned to the respective purchases by M.S.T.C.

   (b) A.B.S. Fee will be collected by A.P. Forest Development Corporation separately from purchasers and will be remitted to the appropriate authority.

(c) The designated Drawing and Disbursing Officer of Forest Department will file the TDS returns/challans for purchasers with A.P. Head Quarters Treasury (APHQT) for adjustment entries. A.P. Head Quarters Treasury will pass necessary adjustment entries for IT and VAT where ever applicable.

4. The VC&MD, A.P. Forest Development Corporation Limitedshall take necessary action accordingly.

5. These orders are also available in Andhra Pradesh Government Website http://goir.ap.gov.in and http://www.apfinance.gov.in. 

(BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH) AJEYA KALLAM
PRINCIPAL SECRETARY TO GOVERNMENT