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JMM announces maiden bidding process in India to sell MLAs

24, Dec 2009 By Guest Patrakar

Ranchi. Jharkhand Mukti Morcha (JMM) President, Shibu Soren today announced a lucrative bidding process for the sale of newly elected JMM MLAs after conclusion of the State Assembly Elections on Wednesday. With the Congress and BJP camps both hung at 25 and 20 seats respectively, both the parties have welcomed this idea of Mr. Soren, and have hailed it as the beginning of a new era of transparency in public life.

Shibu Soren leading a victory procession
Shibu Soren goes all hep and happy after announcing the bidding process

“Guruji have shown us the way. He’s been completely selfless and has sacrificed his personal ambitions of becoming a Chief Minister. The mandate clearly has been in favor of horse trading and we are just respecting people’s choice.” said a JMM spokesperson, justifying the bidding process.

The following are the rules of the bidding process:

  • Minimum bid per MLA to start at Rs 2 crore. No maximum limit.
  • Margin money of Rs 20 crore to be given to JMM for a minimum period of 12 months by all the bidders.
  • After winning the bid, money to be transferred using NEFT. JMM MLAs and MPs are sick of getting caught at the bank while doing these transactions.
  • Offer period begins on 25th December 2009 and offer closes on 31st December 2009. The offer will be opened again every quarter for 2 days to provide flexibility to the bidders.
  • Lalu Yadav, his 233 known and 27 unknown near and dear ones, any of his cattle, hens, pigs, goats and anyone remotely connected to him, are not allowed to participate in the bid.

Other details of the bid:

  • Bankers: Shitty Group
  • Auditors: Price Waterhouse Poopers
  • Guarantor: Madhu Koda
  • All the transactions are secured by VeriSecure
  • All Credit Cards will be accepted except AMEX. 2% service charge will be levied on Credit Card transactions
  • Once sold any MLA cannot be resold for at least next 90 days
  • Bidding process will be governed from JMM office, Ranchi only

(submitted through e-mail by Chetan)