OPERATOR OF THE AGZRT ELECTRONIC PLATFORM COMPLYED WITH THE FAS ORDER

AGZRT JSC (Agency for State Order of the Republic of Tatarstan) created unreasonable obstacles for bidders to sell seized property

The Authority found that during the bidding process, the operator of the electronic platform rejected offers with a price higher than the amount indicated when submitting an application for participation in the auction as the maximum possible price offer. According to FAS, such prohibition violates the legislation* on the organization of auctions, which may have reduced federal revenue when disposing of property.

The Authority issued a requirement to AGZRT JSC to eliminate the detected violations. The operator had to exclude from the regulations the prohibition on submitting an offer with a price higher than that indicated as the maximum possible price offer.

After the deadline, the operator reported on the fulfilment of the requirement.

The decision adopted by FAS is aimed at ensuring transparency of the bidding procedure as well as preventing violations of the rights of their participants.

For reference:

* Article 448 of the Civil Code of the Russian Federation