Allotment of 7 liquor vends cancelled in UT

The UT Excise and Taxation Department has cancelled the allotment of seven liquor vends for the non-payment of bank guarantee and licence fee.

The department will now hold the re-auction of a total of 17 liquor vends on May 14. Ten liquor vends remained unsold after the fourth round of e-auction held on May 8.

The department had managed to auction 11 liquor vends out of the remaining 21 liquor vends and earned a revenue of Rs 60.76 crore against the reserve price of Rs 47.97 crore in the auction. The department was able to auction only seven liquor vends out of 28 in the third round of the auction on April 29. The department had earned Rs 60.98 crore against the reserve price of Rs 41.08 crore in the auction.

On April 21, the department put up 48 liquor vends, the licences of which were cancelled for the non-payment of bank guarantee, for auction. It managed to find bidders for only 20 units. The department earned Rs 131 crore against the total reserve price of Rs 109 crore.

On March 21, the department had allotted 96 liquor vends out of a total of 97 through an e-auction and generated Rs 606 crore revenue. However, it cancelled the licences of 48 vends for bank guarantee default. The department earned Rs 23 crore by forfeiting the earnest money and security deposits of these defaulters.

Chandigarh