EMD (Earnest Money Deposit) is your financial eligibility key to participate in any MSTC auction. A single mistake here can block bidding, forfeit capital, or delay refunds. Below is a clean, compliance-safe execution guide.

Step 1: Identify EMD Requirement from Catalogue

• Login to MSTC → Open the specific auction

• Download the Auction Catalogue

• Note carefully:

  • EMD amount (lot-wise / auction-wise)

  • Mode of payment allowed

  • Cut-off time for EMD reflection

Leegal Insight:

Never assume a standard EMD—every auction has its own rulebook.

Step 2: Choose Correct EMD Payment Mode

MSTC generally allows:

• NEFT / RTGS (most common)

• Net Banking (auction-specific)

⚠️ Cash, UPI, personal accounts = instant rejection

• System generates:

  • Beneficiary name

  • Bank account details

  • IFSC code

  • Unique EMD Reference Number

📌 This reference number is mandatory—without it, EMD may not map.

Step 4: Make Bank Payment (Critical Step)

From your registered business bank account:

• Enter exact EMD amount (no rounding)

• Mention EMD Reference / Auction No. in narration

• Complete NEFT / RTGS transfer

Golden Rule:

One auction = one EMD transaction (avoid clubbing).

Step 5: Verify EMD Reflection on MSTC

• Login → EMD / Payment Status

• Status should show:

  • “EMD Received / Accepted”

⏳ Reflection time:

• Net Banking: Near real-time

• NEFT / RTGS: 2–24 working hours

🚫 If EMD doesn’t reflect before bid start → you cannot bid.

• Enter live auction

• Place bids within defined increments

What Happens to EMD After Auction?

• If you win:

  EMD is adjusted against final payable amount

• If you lose:

  EMD is refunded to the same bank account (time varies)

• If you default:

  EMD is forfeited + future bidding risk

Top EMD Mistakes (Avoid at All Costs)

• Paying from personal bank account

• Wrong narration / missing reference

• Paying after cut-off time

• Using same EMD for multiple auctions

• Assuming refund is instant