Shriram Automall to foray into Rs 50,000 cr forward auction industry

Shriram Automall India Limited (SAMIL), part of Shriram Group and MXC Solutions, has received the Standardisation Testing & Quality Certification (STQC) E-Procurement System (ePS) certificate from the Ministry of Electronics & Information Technology. The certificate will enable the company to foray into the Rs 50,000 crore public sector forward auction industry.

After going through extensive tests for nearly three years, SAMIL has become the first private company in India to have its auction portal certified by the prestigious STQC directorate for exclusively conducting “forward auctions”, which is among the first of its kind issued by the agency, said Sameer Malhotra, CEO