Oleevia Grameen Credits Private Limited (hereinafter referred to as "OGCL"), a Non-Banking Finance Company (NBFC) registered under the Companies Act, 2013, and governed by the Reserve Bank of India (RBI) regulations, has formulated this Auction Policy for the sale of immovable assets and other securities, which are pledged as collateral for loans issued by OGCL to its customers.

Objective: The prime objective of OGCL is to support the tribes in promoting their traditional farming methodologies by supporting them with micro-lending for affordable rates. The Auction Policy has been formulated to provide guidelines for the auction of immovable assets and other securities, which are pledged as collateral for loans issued by OGCL, in accordance with the RBI regulations.

1. OGCL will follow the auction process as prescribed by the RBI regulations, and any subsequent amendments thereto.
2. The auction process will be transparent and fair to all bidders.
3. OGCL will provide information about the auction, including the date, time, and venue, in the leading newspapers of the region, at least 30 days prior to the auction.
4. OGCL will provide information about the auction, including the date, time, and venue, on its website.
5. OGCL will appoint an auctioneer to conduct the auction.
6. OGCL will appoint a valuer to assess the market value of the immovable assets and other securities, which are pledged as collateral for loans issued by OGCL.
7. The valuer will submit the valuation report to OGCL, which will be made available to all bidders.
8. Bidders will be required to submit their bids in sealed envelopes, which will be opened in the presence of the auctioneer.
9. The highest bidder will be declared as the successful bidder.
10. The successful bidder will be required to deposit 25% of the bid amount immediately after the auction, and the balance amount within 15 days from the date of the auction.
11. In case the successful bidder fails to pay the balance amount within 15 days from the date of the auction, the deposit amount will be forfeited, and the immovable asset or other security will be auctioned again.
12. OGCL reserves the right to reject any bid or cancel the auction at any time without assigning any reason whatsoever.

OGCL is committed to conducting the auction process in a fair, transparent, and efficient manner. This Auction Policy has been formulated in accordance with the RBI regulations and will be reviewed periodically to ensure that it is in line with the latest regulatory requirements. OGCL will endeavor to ensure that the proceeds from the auction are used to settle the dues of the defaulting borrower, and any excess amount will be refunded to the borrower after deducting the outstanding amount, if any, as per the RBI regulations.