The one lackh deposit for BDA auction sites

[akalangi]

I wanted to know that to apply for a BDA site, we need to deposit 1,00,000 during the auction.

If our BID is rejected, then will this be refunded to us back. How long will it take for the refund to happen?

Your advice on this will help me a lot

[yasif]

Maximum two weeks

Asif

[tvsh]

I have not taken part in BDA auctions, however I have taken part in MUDA auctions a few years ago. I presume the procedures are similar as they are similar gov't bodies. We pay the deposit in the bank by cash and a token is given to us, after the auction, we hand over the token and take back the same bundle of notes given by us. The cashier would keep the bundle separate with the token number. So the refund was immediate with the same currency bills given by us.

[akalangi]

Maximum two weeks

Asif

Thanks Asif.

Will this be deposited to the account directly or it will be sent by cheque?? Please advice