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 SAMIL.
He added that STQC is an e-procurement system that is responsible for maintaining e-governance standards and related conformity according to 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.