Q. How does a customer register with Metaljunction?
In order to register with Metaljunction, one has to login to our website auction.metaljunction.com and download the Statement of Interest form or you can also call our Pre-auction team at this number (033-66106150 & 66106178). You will have to fill this form and submit it along with a photocopy of your PAN Card and registration fees at any of our offices. (Please see the list of office address given).
Q. How do I login and bid in the auction?
On successful registration, you will be given a unique User ID and Password which you can use to login to our website. Once you are registered, you will be given training for bidding over the phone by our customer contact officers located across the country.
Q. How do I know about the forthcoming auctions?
You can view the entire list of forthcoming auctions under the link "Auction List" on our website.
Q. How do I participate in a particular auction?
You have to first download the catalogue of the auction from the "Auction List:" Now you will have to complete the documentation and the EMD stated in the catalogue and submit it at any of our offices across the country.
Q. I have forgotton my password. How do I retrieve it?
You will have to click on the "Forgot your Password" link on our website and answer the secret question set by you. On giving the correct answer an auto-generated password will be displayed on your screen which you can change after logging in the website.
Incase if you have not set any secret question, then you have to fax a forget password request
on your company's letter head requesting for a new password. The fax no. is 033-66011719
Q. How do I set myself a secret question?
Log in by using your User ID and password. Then click on the "Secret Question" link on the bidding page and set yourself a secret question.
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?
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 Ms. Subarna Gupta at +91 9163348193 / 03366106103 or Mr. Rudra Prasad Nag at +91 9163348120 / 03366106186