Q1. How does an Online Auction work?
- In Online Auctions, all lots are listed in an online catalog which is available on our website http://www.metaljunction.com 3 – 4 days prior to auction.
- All the lot are physically available for viewing & inspection at the client’s stockyard. The yard location and contact information is listed in the catalog.
- You must visit & inspect the material. Once you are satisfied with the material you can show your interest for participation in auction by submitting EMD amount & LOI if applicable for that auction.
- Contact information for our customer contact officer is also available so that you can get your queries addressed.
- Online Auction opens for bidding at a specific date & time mentioned in the catalog.
- On the day of the Online Auction, you can login to our website http://www.metaljunction.com with your user id & password.
- After going through the terms & condition of the auction & catalog, you can participate in auction.
Q2. What are the computer system requirements for using the Online Auction?
For most successfully use, we recommend the following:
Processor: 2 GHz and higher
RAM: 1 GB & above
Internet Connection: For good connectivity we recommend to use network of 3G & above or Broadband
Browser: Internet Explorer 6.0 or higher and Firefox.
Q3. How do I register with metaljunction? What are the documents required for registering in metaljunction?
In order to register with metaljunction, one has to login to our website www.metaljunction.com, then click on register & fill the user registration form online. After that download the SOI & take a print out of the SOI & accompany it with all the supporting documents submit that to the respective CCO’s or courier it to our registration desk at our head office.
Documents required for registering in metaljunction:
- Duly Filed in SOI Form.
- Self-Attested Copy of Tax Registration Certificate
Within State - VAT Registration - Self Attested Copy, Outside State - CST Registration - Self Attested Copy
- Self-Attested Excise Registration Certificate (RC Copy)- If unable to provide need declaration on Companies letterhead
- Self-Attested Copy of Proprietor's PAN Card
- Address Proof - Self Attested copy - (Trade Licence /Voters ID /Driving Licence /Passport/Aadhar Card)
- Proprietor’s Signature Verification from Bank
- Self-Attested Copy of PAN Card of firm
- Self-Attested Copy of all Partners PAN Card
- All Partners Signature Verification from Bank
- Self-Attested copy of Partnership Deed
- Self-Attested Pan Card copy of Company
- Self-Attested Copy of Certificate of Incorporation
- Self-Attested Copy of Board resolution / Power of attorney stating who is authorized signatory for Company
- Please Note:- For participating in auctions of TATA STEEL you have to submit all the documents in notarized form
- On receipt of duly completed Statement of Interest, mjunction services limited shall verify & evaluate your interest in metaljunction. After due verification, our representative shall impart training on availing mjunction services ltd.’s services. Our head office in Kolkata will complete formalities regarding your account and will inform you about the details of your user ID.
Q4. What is user-id and password? How will I receive it?
- Your user id and password are the unique keywords through which you login & you are identified on our website. Using your user id & password you can participate in any auction basis eligibility, view pre auction & past auction details, your profile related details & other account related details. System generated user id and password is communicated to your email id through a system generated mail after you have completed all the registration formalities. You have to change your password after your first login to proceed further for security reasons. Please note that the confidentiality of the password is your responsibility; mj or the client are not liable for misuse of the same if any. Also your changed password has to be of minimum 8 characters long, must contain atleast one uppercase and one lowercase characters. It must not contain these characters (=,-).Also, it must contain atleast 2 and maximum 3 numeric characters. Example:- Xyz@123. Please note if you do not receive your User Id & Password on your registered Email Id you must contact our registration desk immediately. Contact details: Manish / Shamima :- +91 33 66106150 +91 33 66106178
Q5. How do I retrieve my password if I have forgotten it?
In case you forget your password you can get a new password in two ways: either through OTP (One Time Password) or security question whichever is convenient for you. Please note OTP is send only on your registered email id & phone number. You can visit our website http://www.metaljunction.com
, there you can see two links, one for OTP (One Time Password) & another for security question you can click on any of the two & follow the steps further to get a new password.
Q6. When my account can get locked?
As a security measure, if you try to Login to your account with wrong password for three times in a day your account will get locked. It can be unlocked only after 24hours. You have to send a mail at our registration desk with your registered Email Id to unlock your account. Our registration team will send you a new password at your registered Email Id.
Q7. Can more than one person log in at the same time using my user id and password?
No. The moment the second person logs in simultaneously with the same user id and password, the first person will be logged out.
Q. How can I retrieve my password with the help of security question?
Go to our website www.metaljunction.com,
there go to “Forgot Password”, there click on the option security question, by filling the user details & then following the steps, you can reset your password.
Q. How can I retrieve my password with the help of OTP?
Go to our website www.metaljunction.com,
there go to “Forgot Password”, there click on the option OTP (One Time Password), by filling the user details & then following the steps you can reset your password. You must keep in mind you will receive the One Time password on your registered phone number as well as on your registered email id. Once you receive the OTP you have to use it within 5minutes, after five minutes it expires automatically. After putting the OTP in the required field you will receive the password via your registered email id. You can try for setting OTP only 3times a day.
Q. Where do I contact in case of a technical problem during the auction?
You can always contact the Auction Room helpline numbers during any technical problem at your end and ensure smooth bidding. The numbers are 033-66031760-72 and 44091760-72.
Q. How will I bid if I am travelling?
You can call the Auction Room Helpline numbers and ask the auction executive to place your best bid on your behalf by providing him/her your user id and password. Pls note: All the telephone lines in the auction room is recorded to ensure transparency.
Q. How do I update any change in my company's details?
You will have to send a request on your company's letter-head stating the change and we will update that in our record. You can also contact the pre-auction team for further help on these numbers (033-6606150 & 6606178)
Q. What is Buyer Finance?
It is working capital finance at competitive rates, from our partner banks to purchase steel through e-auction.
Q. Who can avail?
All auction participants of metaljunction, purchasing secondary steel products from Tata Steel and SAIL (BSP, DSP, RSP, SSP, ASP, ISP and BSL). Buyers of TATA Steel / SAIL who are also purchasing from Welspun and / or JSPL are eligible to apply under TATA Capital for the said program.
Q. Do I have to provide any security?
Depending on your business profile and external or bank ratings, either finance will be provided without any collateral as an unsecured facility, or 25 - 30% collateral or security is required (as detailed in the scheme details).
Q. What are the advantages of taking up the scheme?
- Nil / negligible collaterals or securities are required.
- Credit Period up to 60 / 45Days (need based)
- Competitive rate of interest.
- Instant disbursal.
- Regular MIS on utilization and reminder mails to avoid any overdue.
Q. I have a CC/working Capital facility from my existing bank. Can I avail of this scheme?
This finance facility is over and above your present working capital facility, hence there is no restriction even if you have such an existing facility. This facility is exclusively for making payments for materials purchased though e-auction from Mjunction.
Q. Which bank will provide the finance?
Yes Bank, Axis Bank, HDFC Bank and TATA Capital Ltd. will provide the finance. We may also add other banks shortly.
Q. How do I get the disbursement?
There is prescribed format for putting the finance request. (which is circulated after a/c opening). You will be able to collect the pay-order from your local branch of the respective bank or there will be direct payment through RTGS to the plant on your behalf.
Q. What do I do to apply?
Send the duly filled information sheet as scanned document to email@example.com
. Once the initial screening is done and you are found eligible for the program under any of the banks, you will be informed accordingly post which you need to send us the pre sanction documents.
Q. List of Pre Sanction Documents
- Brief Background of Firm/Company and authorized signatories.
- Copies of audited Financial Statements for the last 4 years/ Provisional Financial Statements for the latest year, if accounts for that year are not audited, and audited Financial Statements for the preceding 2 years. Estimated financial Statement for the immediate succeeding year and Projected financial Statement for the next succeeding year.
- Copies of last 2 years Income Tax Returns of the firm.
- Copies of insurance policies in respect of goods and premises insured.
- Identity proof of proprietor/all partners/ all directors of the firm (Passport copy/ Voter ID/ PAN Card/ Deriving License).
- Signature verification of the authorized signatory/signatories.
- CA Certified Certificate of Net Worth and Personal Balance Sheets of proprietor/all partners/ all directors of the firm.(Annexure 2)
- CA certified Declaration of borrowing from Banks/ Financial Institutions (FIs) as on the date of declaration.(Annexure 3)
- Document(s) evidencing constitution of the firm like Memorandum & Articles of Association, Certificate of Incorporation, and Partnership Deed (including registration copy)etc. Share Holding Pattern as on a latest date
- Electricity bill / Telephone bill copy in the name of the firm/ company.
- Statutory requirements like registration under Shops & Establishments Act / Service Tax / PAN No., / P.F. No. / E.S.I. No. / Labour License No. etc. (any two proofs).
- Copies of the last sanction letter of the existing credit facilities enjoyed by the firm/company.
- Bank statements for last 6 months from other banks
- External Rating Agency report including the rating sheet and the rationale (if any).
- Existing CMA data of the firm as submitted to the working capital banker (if any)
- Collateral Security details (wherever applicable)
Q. I have some more queries, whom do I contact?
In case of further queries please contact Mr Rohit Singh at +91 8336925983 / 03366106210 or Ms. Shruti Saxena at 91 9163348120 / 033 66106006"