Shriram Automall acquires e-procurement system certificate from STQC

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By Ashish Mitra --
Thursday, 21 Jan, 2021

Shriram Automall India (SAMIL), a platform for pre-owned vehicles & equipment, from the stable of Shriram Group, has received the standardisation testing & quality certification (STQC) e-procurement system (ePS) certificate from the quality assurance and conformity assessment body. This will enable the company to foray into the Rs 50,000- crore public sector forward auction industry.

After going through extensive tests, SAMIL has become among the first private company in India to have its auction portal certified by the STQC directorate for exclusively conducting forward auctions, which is among the first of its kind issued by the agency.

STQC, an e-procurement system is responsible for maintaining e-governance standards and related conformity as per the DeitY-guidelines which are an essential requirement for various government agencies for their e-procurement needs and for various entities to conduct forward auctions under SARFAESI.

The certification stands as an assurance that the SAMIL’s exclusive forward auction portal is extremely dependable, trustworthy and above all very secure. Data of each client is stored securely in an encrypted form on cloud thereby maintaining desired level of privacy adding to its existing firewalls deterring any deliberate breach.

The auction portal has been customised for disposal of both movable and immovable property and is capable of handling unlimited auction events simultaneously for multiple clients across all public sector undertakings and various state local authorities. The portal will provide a reliable platform for all the leading government agencies to conduct transparent and hassle free auctioning.

Since PSU entities mandatorily require their e-procurement and forward auction service providers to be STQC certified as a prerequisite to empanelment, this will provide a very secure, accurate and trustworthy platform to all the leading PSU’s and all such financial institutions for auctioning their movable and immovable assets.

Shriram Automall acquires e-procurement system certificate from STQC. Shriram Automall India (SAMIL), a platform for pre-owned vehicles & equipment, from the stable of Shriram Group, has received the standardisation testing & quality certification (STQC) e-procurement system (ePS) certificate from the quality assurance and conformity assessment body. This will enable the company to foray into the Rs 50,000- crore public sector forward auction industry.

After going through extensive tests, SAMIL has become among the first private company in India to have its auction portal certified by the STQC directorate for exclusively conducting forward auctions, which is among the first of its kind issued by the agency.

STQC, an e-procurement system is responsible for maintaining e-governance standards and related conformity as per the DeitY-guidelines which are an essential requirement for various government agencies for their e-procurement needs and for various entities to conduct forward auctions under SARFAESI.

The certification stands as an assurance that the SAMIL’s exclusive forward auction portal is extremely dependable, trustworthy and above all very secure. Data of each client is stored securely in an encrypted form on cloud thereby maintaining desired level of privacy adding to its existing firewalls deterring any deliberate breach.

The auction portal has been customised for disposal of both movable and immovable property and is capable of handling unlimited auction events simultaneously for multiple clients across all public sector undertakings and various state local authorities. The portal will provide a reliable platform for all the leading government agencies to conduct transparent and hassle free auctioning.

Since PSU entities mandatorily require their e-procurement and forward auction service providers to be STQC certified as a prerequisite to empanelment, this will provide a very secure, accurate and trustworthy platform to all the leading PSU’s and all such financial institutions for auctioning their movable and immovable assets.