Shankar Ramchandra Auctioneers: A Perfect Bidding Partner Ensuring Credibility & Confidentiality

Abhijeet Panhale,CEOPune Municipal Corporation (PMC) under the directive of its Commissioner tried to administer the sale of advertising rights of various Gantries within the city through tenders for three consecutive years, but to no avail. It is then that the Pune-based Shankar Ramchandra Auctioneers (SRA) came into the picture administering an e-auction for PMC and obtaining nearly Rs.1 crore more than the upset price for the gantries. With its timely interference, SRA aided PMC in generating huge revenue and set another milestone to its rich history of 100+ years.

Yet at another occasion, huge quantity of accumulated coal rejections of various thermal plants in Maharashtra lay unsold thereby blocking the entire open space and making it impossible for MSPGCL to carry out any expansion. It was a specially challenging because the quantum was to the tune of 8-9 lakh tones involving stakes to the tune of Rs.60-65 crores. Then there was a strong cartel that needed to be dealt with. SRA stepped in to assist MSPGL to dispose off the material by adopting various unique strategies while e-auctioning the material resulting in massive success.

A revered name in the bidding sector since 1905, the company is a pioneer in the line of auctioneering in India. Late Shri Shankar Ramchandra Panhale ventured the unexplored arena of auctions. At the same time, not forgetting his social responsibility, he contributed a lot for its progress. Late Shri Shyam Shankar Panhale, father of the Director &CEO Abhijeet Panhale, is the only person to be awarded ‘Gold Medal’ in the line of auctioneering by the Govt of India. Serving moguls like TELCO (Tata Motors), DGS&D, MSRTC, RAILWAYS, ALL Departments of Govt. of Maharashtra and others, SRA transformed to be a leading auctioneer endowing online and regular auctions to a clientele including ACGL Goa, Tata International, Pune Municipal Corporation, Customs & Central
Excise, Maharashtra Govt, CHRYSLER FIAT, SIGMA, JOHN DEERE and many more. The present Managing Director Sangeeta Panhale has been awarded with Indira Gandhi Sadbhavana Award for enterprenership.

Proffering top-class bidding services, the company renders a strong string of services with the keystone being disposal of scrap and other material

Smart Disposal Solutions
Proffering top-class bidding services, the company renders a strong string of services with the keystone being disposal of scrap and other material. The company offers all three methods viz, tender, open auction and e auction. In case of tendering, it floats the tender, distributes and mails it to various prospecting bidders, invites and collects sealed tenders along with EMD and forwards it to its principal. On the fixed date, tenders are opened in the presence of our person. Further negotiations, if any, are carried out by them and lot/lots finalised.

Open auction calls for making arrangements from fixing a suitable place to strong vigilance.SRA lays a strong emphasis on the role of a cryer whose skill can fetch the best price for the material.The concept of Online auction is more recent and requires a lot of planning, strategies as the bidding process takes place within four walls and sitting in one’s office. This requires being more alert and conscience or else the principal may be lead up the garden path. With a shift to online auctioning, which is more convenient to sellers, auctioneers, and bidders, the company’s major focus relies on appointing an administrator (a person who conducts the auction) of highest credibility. There have been instances wherein the mismanagement from administrators wrecked the whole bidding process.Ruling out this possibility, SRA maintains utmost confidentiality during the bidding by safeguarding information, providing proper chances to bid online, and by guaranteeing the principal with the right rate.

In addition to these, the company endows other services like Inspection, Advertisement, Vendor
Development System, Update Information System, and Follow up as well. Conducting auction for various categories such as ms scrap on arising as well as arranged basis, vehicle, machinery, oil, advertising rights and so forth, SRA gears most of its attention towards the auction of scrap materials which is an area with maximum malpractices spotted. “Our company name is associated with credibility, which is the most imperative matter when it comes to online auction,” posits Abhijeet Panhale, CEO, SRA, showcasing the company’s relentless efforts in ensuring credibility which in turn guarantees the principal (seller) with the best rate for its material. Each e-auction that the company conducts is handled with the same zeal and enthusiasm as a new born baby. The company also offers its guidance and advice to its principal wherever needed, cautions the principal to avoid further complications.

Ease in e-Auction
In the current digital times, e-auction has emerged as a huge time saver providing ease of auctioning for all the stakeholders. Once the auction is done, 25 percent amount is collected as Earnest Money Deposit from the successful bidder and handed over to the principal by SRA within four days from the date of the auction, while the remaining 75 percent has to be paid within 15 days from the date of EMD to seller directly. SRA does regular follow-ups to ensure that the material is lifted within one month, and time exceeds, bidder has to pay ground rent, mortgage and other charges. For the companies that prefer tenders rather than auction, SRA endows sealed tenders enabling the company to sell for highest or above upset price.

The focus of the company is to gain maximum revenue for their principal. The team has been trained accordingly and do not compromise when it comes to safeguarding the interest of their principal/customer.Other than selling scrap, the company is expanding to auctioning advertising rights and aims to come up with Art auction as well. Though prevalent in the industry with highest corruption, SRA is reluctant to bend to pressures and finds happiness in contributing to the nation’s growth. The company feels that the bidding space needs to be more streamlined as it is still not exploited properly and requires credible people. Just like the company states ‘Our auctions speak louder than words’.