Seller terms and listing agreement

This is the agreement between an auction seller and Mahendra Developers, which runs AuctionHub. You accept it, with the declarations for your listing, on the “Before you submit” page of every auction listing; we keep a record of what you ticked, the commission and any exclusivity you were shown. It adds to the Terms of use. Ads in Sell · Buy · Rent follow the Sell · Buy · Rent rules instead.

Part A: every auction seller

1. What you appoint us to do

1.1 You appoint us to list, check, market and auction the item you describe, and to help coordinate the closing of the sale. In return we provide, at our own cost: the checks described in the Terms of use; publishing and promoting the listing; access to bidders who have submitted identity verification and paid an entry fee; the auction and its records; and help with closing.

1.2 We will not sign a sale deed or transfer document for you, receive the price, or sell below your reserve price without your written consent. If you want someone to sign closing papers for you, use a special power of attorney limited to that transaction; we don't accept general powers of attorney.

1.3 We act as an intermediary. We don't buy, don't hold the item, and are not a party to the sale.

2. Listing is free; the success commission

2.1 There is no fee for listing, checking or marketing.

2.2 When a sale through AuctionHub completes, we charge you a success commission: the percentage shown on the “Before you submit” page (currently 0.5% for vehicles; the other categories are not charged for now) of the final price, plus GST. It is earned when the sale completes; we issue our GST invoice then, and it is payable within 24 hours of the invoice (if those 24 hours end on a Sunday or a bank holiday, by the end of the next working day). If it doesn't sell, you owe nothing.

2.3 The commission is also payable if, after the auction, you sell to the highest bidder or another bidder at a negotiated price.

2.4 Buyers we introduce. If, within 6 months after your listing ends or is withdrawn, you sell the item to a person first introduced to it through AuctionHub (a bidder or anyone who enquired through us), the commission is payable on that sale. We will give you the list of such people on request. You remain free to sell to anyone else.

3. Exclusivity (property and running businesses only)

3.1 For property and business auctions, you appoint us as your exclusive agent to sell the item for 90 days from the day we approve the listing. During that time you will not market, negotiate or agree a sale of it except through AuctionHub. The exclusivity ends automatically at the end of that period, without notice.

3.2 You give exclusivity in return for the services in section 1.1, which we provide free of any listing charge, and you accept that this is fair consideration.

3.3 You may withdraw early by writing to us. You then pay the early-exit fee of ₹5,000 for property or ₹10,000 for a business, plus GST. It is a genuine pre-estimate of our costs of checking, listing and marketing, not a penalty, and is capped at the loss we actually suffer.

3.4 No early-exit fee is payable if we materially breached this agreement and didn't put it right within 15 days of your notice, if we didn't put the listing live within 15 days of approving it, or after the exclusivity has ended.

3.5 Vehicles, goods and art are not exclusive: you may also sell elsewhere, but you must tell us at once and withdraw the listing, and section 2.4 still applies.

3.6 If a bid at or above your reserve has already been placed, withdrawing may expose you to a claim by that bidder. Take independent advice before you withdraw.

4. Your promises (warranties)

You promise, when you submit the listing and again when bidding closes, that:

• you own the item, or have written authority from every owner to sell it, and every co-owner is named and will sign the sale documents;
• any power of attorney you rely on is valid, current and covers this sale;
• you have declared every mortgage, loan, charge, hypothecation or other encumbrance, every dispute, notice or court case, every tenancy or occupation, and every unpaid tax, utility or statutory due;
• the listing, its photos and its documents are true and complete, and the documents are genuine copies;
• the item is not subject to another agreement to sell, option or right of first refusal, and is not a prohibited item;
• you will tell us at once if anything changes before the sale completes.

Anything you didn't declare remains your responsibility, and we may pause the listing until it is resolved.

5. Checks, and telling bidders

5.1 You allow us to check your documents, including with the offices and authorities that issued them, and to obtain the encumbrance position ourselves.

5.2 You allow us to show bidders what our checks found and what you declared, including anything unfavourable to you. A bidder who was told about a problem before bidding can't later say they were misled: disclosure protects your sale.

5.3 Our checks are not a valuation or survey. Confidential business details are shown only to bidders who have joined and agreed to keep them confidential, and access is logged.

6. Reserve price

6.1 You may set a reserve price before the auction goes live. It stays secret. You may change it only before bidding opens.

6.2 If bidding closes below the reserve, no sale arises; our team may negotiate between you and the highest bidder, with your agreement.

7. The sale is binding on you

7.1 If the highest valid bid at the close is at or above your reserve (or you set none), that bid is accepted on your behalf and you are bound to sell to that bidder at that price and to complete the sale with them.

7.2 If you refuse or fail to complete, the buyer may claim against you (including for specific performance), we may suspend your account, and we may recover from you, as reasonable compensation, the commission we would have earned.

8. Completing the sale

8.1 Completion happens within the times in the Auction rules (property 7 days, business 7, vehicles 3, goods and art 1), or as the written sale agreement you sign with the buyer within that time says.

8.2 You will cooperate promptly and in good faith: sign the transfer documents, get any lender's no-objection certificate, provide the clearances needed, and hand over the item, keys and papers.

8.3 Between the close and completion you will not encumber the item, remove anything from what was listed, or do anything that harms the buyer's purchase.

8.4 The buyer pays you directly. Accept payment only into your own bank account and confirm it has arrived before handing over.

Part B: property

B.1 You promise that the title is clear and marketable apart from what you declared, all co-owners are named, and there is no acquisition, road-widening or similar notice apart from what you declared.

B.2 For our checks you supply your identity verification, the title deed and the latest property-tax receipt; we obtain the encumbrance position ourselves. We may ask for more documents needed for closing.

B.3 The sale deed is signed directly between you and the buyer and registered under the Registration Act, 1908. Stamp duty and registration charges are the buyer's unless you agree otherwise in writing.

B.4 Where a loan exists, you will close it, or arrange for it to be closed from the price, and obtain the lender's no-objection certificate in time for registration.

B.5 Units in a real estate project that must be registered under the Real Estate (Regulation and Development) Act, 2016 may be listed only if the project is registered.

Part C: running businesses

C.1 What you sell. You choose one of two ways, shown on the listing:

• The complete business with its brand: everything transfers, including the trading name, brand and goodwill, and you exit fully. This is usually a sale of a going concern for a single lump sum.
• Assets only: you sell the equipment, furniture, fittings and stock, and hand over the premises; you keep your trading name, your legal entity, its registrations, receivables and past liabilities. The buyer trades under their own name, so you remove your brand from the premises (signage, menus, online listings) before handover or at your cost.

C.2 You can change this until bidding opens, not after: bidders bid on that basis.

C.3 Tax and licences. The two routes are taxed differently (for example, GST on a going-concern transfer versus GST on each category of asset, and how capital gains are worked out). This affects what you take home. We don't give tax advice: you confirm we told you to get advice from your own chartered accountant before setting your reserve price. Most licences (FSSAI, trade licence, shops and establishment, GST, fire and health NOCs, excise) don't transfer; the buyer applies afresh, and you give the no-objection letters their applications need.

C.4 The landlord. The listing does not go live until the landlord's consent in principle is confirmed, the lease is shown to allow transfer without consent, or you own the premises. At completion the transfer agreement and the lease documents (assignment with your release, or a fresh lease to the buyer) are signed together; your written release by the landlord is a condition of completion. If the business runs under a franchise or brand licence, that franchisor's consent is needed too. We only ask the landlord whether a transfer is acceptable in principle, never share the price without your permission, and tell you about every contact.

C.5 Liabilities and staff. In an assets-only sale, everything owed by your business up to completion stays with you. In a complete-business sale, liabilities pass with the business except as your sale agreement says, and the buyer is protected by your warranties, indemnity and any amount held back. Employees don't transfer automatically; you and the buyer agree whether they are released with their dues settled or move across with continuity of service, and you remain responsible for dues up to completion.

C.6 Not competing nearby. A promise not to run a similar business nearby is enforceable under section 27 of the Indian Contract Act, 1872 only when goodwill is sold and the limits are reasonable. In an assets-only sale it needs a specific structure (assigning the goodwill attached to the premises and its locality, for a stated value). Agree any such promise expressly in the sale agreement, with your own legal advice.

C.7 We don't currently offer sales where you keep the brand and license it back to the buyer as a franchise.

Part D: vehicles

D.1 You promise that the RC is genuine and in your name (or the owner's, if you are an agent with written authority), that the chassis and engine numbers are unaltered, and that the loan, insurance, pollution certificate, challan, accident and flood or fire details you gave are true.

D.2 You give our team the registration, chassis and engine numbers. Buyers see only the RTO; the full numbers are never shown publicly.

D.3 When it sells, you hand over the vehicle with the RC, both keys, the insurance papers and service records; sign Forms 29 and 30; give the bank's NOC (Form 35) if there was a loan; clear pending challans; and inform your RTO of the transfer within the time the Motor Vehicles Act, 1988 requires, keeping a delivery note signed by the buyer with the date and time.

D.4 Agents also confirm that, for a customer's vehicle, the owner has authorised them in writing, and they follow the Agent terms. Agents can't change key vehicle details once bidding has started, and price changes after approval need our approval again.

Part E: goods

E.1 You promise the item is genuine (not counterfeit or a replica), not stolen, not prohibited, and in the condition described, with any defects disclosed.

E.2 Once paid you hand it over, with the bill and any warranty card, as agreed with the buyer.

Part F: art and craft

F.1 Attribution. You promise the artist or maker, medium, size and year are described honestly. An original is one of a kind; a limited edition states its edition number; a print or reproduction is clearly labelled as one. Any certificate of authenticity you mention is genuine.

F.2 Not allowed. You promise it is not an antiquity or art treasure within the Antiquities and Art Treasures Act, 1972 (generally, more than 100 years old), not taken from a temple, monument or heritage site, and contains no ivory, animal parts, protected wood, coral or other material banned under the Wild Life (Protection) Act, 1972 or other law. A geographical-indication (GI) name is used only if the item genuinely qualifies.

F.3 Copyright. The buyer gets the object, not its copyright or the artist's moral rights, unless your listing says otherwise.

F.4 Handover. Once paid (the buyer pays within 1 day of the result), you hand it over within 5 days: in person against a signed receipt, or packed properly and shipped insured, with tracking, sending the buyer the tracking number. You give the buyer the certificate of authenticity (if any) and a bill.

F.5 If the buyer reports within 48 hours of delivery that it is materially different from the listing or damaged in transit, you and the buyer settle it fairly between you (repair, partial refund, or return for a refund). We will share the listing record to help.

Part G: general

G.1 Confidentiality. Each of us keeps the other's non-public information confidential, except where the law requires disclosure or for professional advisers.

G.2 Our liability. Our checks are as described in the Terms of use. We give no assurance about a landlord's or authority's decision or how the item will perform for the buyer. Except for fraud, wilful default or gross negligence, our total liability under this agreement is limited to the commission we actually received for this listing. Nothing affects your rights as a consumer under the Consumer Protection Act, 2019.

G.3 Your indemnity. You will compensate us and the buyer for loss caused by a breach of your promises, or by anything about the item you should have declared and didn't.

G.4 Electronic acceptance. Ticking the box on the “Before you submit” page, under the statements listed there, is your acceptance of this agreement and your declarations, valid under the Information Technology Act, 2000. We keep the record. We may also ask you to sign this agreement electronically through a licensed e-signature provider.

G.5 Law and disputes. As in the Terms of use: the laws of India; good-faith resolution first; then arbitration with its seat at Jaipur. Nothing requires a consumer to arbitrate.

G.6 Changes. A change to these terms doesn't affect a listing already submitted: the version you accepted applies to it.