Terms & Conditions

1. Definitions

  1. Affiliates” means Shensekai TGL Pvt. Ltd., and their holding or subsidiary companies as on the date of the Auction/Sale of the Product.
  2. “Buyer” means the person who has accepted the Auction/Sale Price offered at the Auction/Sale and has agreed to pay/ has paid such Auction/Sale Price of the Product to the Seller.
  3. “Visitor” means a person who has visited the website but has not accepted singed-up on the website to become a user.
  4. “Catalogue” shall refer to the catalogue published by Shensekai TGL Pvt. Ltd., whether in print, or on the Website and shall include the Print Catalogue, the Online Catalogue and the eCatalogue containing the description, price and other details of product to be offered for Auction/Sale along with any accompanying text articles (including these Conditions for Auction/Sale). In case of any discrepancy between the Print Catalogue the Online Catalogue and/or the eCatalogue, the Online Catalogue, as modified by Shinsekai TGL Pvt. Ltd. from time to time, shall take precedence.
  5. “Conditions for Auction/Auction/Sale” means these Terms and Conditions published in any of the Catalogues which shall be applicable to every Auction/Auction/Sale of Product. In case of a conflict between the Conditions for Auction/Sale published in the Online Catalogue, the Print Catalogue or eCatalogue, the Online Catalogue version, as modified by Shinsekai TGL Pvt. Ltd. from time to time, shall take precedence.
  6. “Description” means all the details of a Product as set out in the Catalogue.
  7. “E-Catalogue” refers to a partial or complete electronic reproduction of the Print Catalogue that may be made available on the Website.
  8. “Notices” refers to information included in the Catalogue by Shinsekai TGL Pvt. Ltd. – whether in print or online - to correct errors and omissions in the Catalogue. These are provided for the Buyers’ convenience – however, the Online Catalogue as modified by Shinsekai TGL Pvt. Ltd. from time to time shall take precedence in all cases of discrepancy.
  9. “Online Catalogue” shall refer to the web pages on the Website relating to the Auction/Sale of Product, as may be amended from time to time and shall include
  10. web pages accessible via the link “Product for Auction/Sale” (including all pages providing details related to the Product) as well as additional pages containing details such as “Auction/Sale Guide”, “Conditions for Auction/Sale”, “Notices”, “Arrange a Viewing”, “Sell My Product”, etc. “Print Catalogue” refers to the printed version of the Catalogue.
  11. “Product” means the immovable product being listed for Auction/Sale on the Website.
  12. “Shinsekai TGL Pvt. Ltd.” means Shinsekai TGL Pvt. Ltd. Management Corporation acting either on its own behalf or as a representative of any of its Affiliates.
  13. “Auction/Sale” means the Seller offering the Product for Auction/Sale through the Catalogue.
  14. “Auction/Sale Deed” means the final signed agreement between the Buyer and Seller for the purchase of a Product.
  15. “Auction/Sale Price” means the price of the Product offered by the Seller and accepted by the Buyer for the purchase of a Product.
  16. “Seller” means the party listing the Product for Auction/Sale through the Catalogue.
  17. “GST” means Goods and Services Tax.
  18. “Terms of Business” means the terms of business executed between the Business Partner and the Seller.
  19. “Website” means the collection of HTML and/or internet data and media located at the URL.

2. General Terms

These Conditions for Auction/Sale are set out the terms on which Shinsekai TGL Pvt. Ltd. offers the Product/ies listed in this catalogue for Auction/Sale on behalf of Sellers, and will form a contract for Auction/Sale between you and the Seller in the event of a successful transaction. By participating in this Auction/Sale, you acknowledge that you are bound by the Conditions for Auction/Sale as listed below and on the Website.

2.1 Use of the Website/Catalogue is available only to persons who can form legally binding contracts under applicable law. Persons who are “incompetent to contract” within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. are not eligible to use the Website.

2.2 Shinsekai TGL Pvt. Ltd.’s role as the agent of the Seller: Shinsekai TGL Pvt. Ltd. undertakes to list the Product on the Website/Catalogue for and on behalf of the Seller. Shinsekai TGL Pvt. Ltd. has no ownership interest, title or right whatsoever in any Product.

2.3 Shinsekai TGL Pvt. Ltd., through its Business Partner, is authorized by the Seller to exercise its complete discretion in:

  1. Determining the form and content of the Descriptions in the Catalogue, and
  2. Granting access to a Buyer.

2.4 Shinsekai TGL Pvt. Ltd. reserves the right to withdraw any Product, if it has a reason to believe that the authenticity of the Product or the accuracy of the Description is in doubt, or if there is a breach of the Terms of Business, or if Shinsekai TGL Pvt. Ltd. otherwise believes, in its sole discretion, that it would be improper to list the Product for Auction/Sale, or that the Seller is engaging in fraudulent activity in connection with the Auction/Sale of the Product.

2.5 Simultaneously upon the conclusion of a transaction for the Auction/Sale and Purchase of a Product between a Seller and Buyer, Shinsekai TGL Pvt. Ltd. will raise invoices on the Buyer which needs to be paid by the Buyer within the time period as mentioned in the Auction/Sale Catalogue.

2.6 Any transaction between the Seller and the Buyer for the Auction/Sale of the Product shall be between the Seller and the Buyer, while Shinsekai TGL Pvt. Ltd. will merely act as an Agent of the Seller. It is hereby clarified that Shinsekai TGL Pvt. Ltd. will only be providing their services to facilitate transactions between the Seller and the Buyer. At no time shall any right, title or interest over the Product vest with Shinsekai TGL Pvt. Ltd. nor shall Shinsekai TGL Pvt. Ltd. hold obligations or liabilities in respect to any such contract. Shinsekai TGL Pvt. Ltd. is not responsible for any non-performance or breach of any contract entered into between a Seller and Buyer. Shinsekai TGL Pvt. Ltd. cannot and does not guarantee that the concerned Seller and Buyer will perform any transaction for the Auction/Sale and purchase of a Product. Shinsekai TGL Pvt. Ltd. shall not and is not required to mediate or resolve any dispute or disagreement between a Seller and Buyer.

2.7 The Buyer shall pay the amount of the invoice raised by Shinsekai TGL Pvt. Ltd. within the stipulated time period (as mentioned in the catalogue) from the signing of a binding agreement between Seller and Buyer for the purchase of a Product. Payments will not be accepted from any parties other than the Buyer as recorded on the invoice.

2.8 Non payment: The Buyer shall ensure that invoices raised by Shinsekai TGL Pvt. Ltd. are paid in full and all remittance of amounts due under the invoice are made within seven business days from the date of the invoice. In case payments are not received within such period, this shall be treated as a breach of contract by the Buyer and Shinsekai TGL Pvt. Ltd. may take any steps (including the institution of legal proceedings), as it may deem to be appropriate to recover its dues from the Buyer.

3. Catalogue Descriptions and Condition of Product

3.1. Shinsekai TGL Pvt. Ltd. lists all Products for Auction/Sale “as is”, meaning that the Product is offered for Auction/Sale by a Seller with all existing faults and imperfections. Shinsekai TGL Pvt. Ltd. encourages all potential Buyers to conduct their own due diligence prior to submitting their offer to purchase a Product.

3.2. Any statements made by Shinsekai TGL Pvt. Ltd. about any Product, whether orally or in writing, are only expressions of our opinion or belief. Such opinions or beliefs have been formed honestly in accordance with the standard of care expected of an agency facilitating Auction/Sale of Product. However, Shinsekai TGL Pvt. Ltd. do not in any way represent that they have carried out exhaustive research or analysis (included but not limited to a title verification), and it is therefore recommended that potential Buyers seek advice on such matters from their own professional advisors.

3.3. The Buyer undertakes to:

  1. Inspect and satisfy himself prior to purchasing the Product as to the title, condition and description of the Product;
  2. Rely on his own judgment as to whether the Product matches its Description; and
  3. Not rely solely on an illustration of any Product given in the Catalogue.

4. Extent of “Shinsekai TGL Pvt. Ltd.” Liability

4.1. Shinsekai TGL Pvt. Ltd. totally aggregate liability to a Buyer including that of any third party claims, in contract, tort including negligence or breach of statutory duty, misrepresentation, restitution or otherwise, arising in connection with the performance or contemplated performance of the services to a Buyer or prospective Buyer shall be limited to an aggregate sum not exceeding the total fees paid to Shinsekai TGL Pvt. Ltd. by such Buyer. Shinsekai TGL Pvt. Ltd. shall not be liable for any pure economic loss, loss of profit, loss of business, depletion of goodwill, in each case whether direct or indirect or consequential or any claims for consequential loss compensation whatsoever which, arise out of or in connection with services provided hereunder.

5. Intellectual Product

Except where explicitly stated otherwise, all content of the Catalogue, eCatalogue and on the Website are copyright protected in favour of Shinsekai TGL Pvt. Ltd. All trademarks, names, brand names, etc. used in the Print Catalogue and on the Website are either trademarks or registered trademarks of Shinsekai TGL Pvt. Ltd. or other partners. Any rights not expressly granted herein are reserved. No image, illustration or written material may be used or reproduced without the prior written permission of Shinsekai TGL Pvt. Ltd. Shinsekai TGL Pvt. Ltd. and the Seller(s) may make no representation or warranty that the Buyer of a Product will acquire any copyright or other reproduction rights in it.

6. Legal Notices

6.1. Shinsekai TGL Pvt. Ltd. may validly serve the Buyer with legal notice, if required, under these Conditions of Auction/Sale by:

  1. Sending an email to the email address disclosed by the Buyer to Shinsekai TGL Pvt. Ltd.; or
  2. Sending a courier to the address disclosed by the Buyer to Shinsekai TGL Pvt. Ltd.

6.2. Such legal notice shall be deemed to have been properly served:

  1. In the case of email transmission - on the date of the transmission; or
  2. In case of transmission by courier - 2 business days after the dispatch of the notice by courier.

7. Waiver

No failure or delay in exercising any right, power, privilege or remedy under these conditions for Auction/Sale shall in any way impair or affect the exercise thereof or operate as a waiver thereof in whole or in part. No single or partial exercise of any right, power, privilege or remedy under these conditions for Auction/Sale shall prevent any further or other exercise thereof or the exercise of any other right, power, privilege or remedy.

8. Severability

If any part of the Conditions for Auction/Sale between the Buyer and Shinsekai TGL Pvt. Ltd. is found by any court of law to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall be enforceable to the fullest extent permissible by law.

9. Relationship

None of the provisions of the Conditions for Auction/Sale shall be deemed to constitute a partnership and the Seller and Buyer shall have no authority to bind Shinsekai TGL Pvt. Ltd. and/or its Affiliates, agents, representatives, employees, partners, or directors in any manner whatsoever.

10. Arbitration

That any dispute, difference or controversy of whatever nature howsoever arising under or out of or in relation to the Auction/Auction/Sale (including its interpretation) between the Parties, and so notified in writing by either Party to the other Party (the "Dispute") shall, in the first instance, be attempted to be resolved amicably in accordance with the conciliation procedure given under Arbitration & Conciliation Act, 1996.

That in the event, parties herein fail to resolve the dispute/difference amicably then the matter shall be referred for arbitration under Arbitration & Conciliation Act, 1996. The venue shall be Bhopal. The place of jurisdiction of court shall be Bhopal, Madhya Pradesh.

11. Law and Jurisdiction

The Conditions for Auction/Sale are subject to the laws of India and subject to Clause 10 above, the courts at Bhopal, Madhya Pradesh shall have exclusive jurisdiction in respect of all matters hereunder.