In this article, we'll read about the Indian oil petrol pump dealership in detail, the dealership's cost, how to apply for the dealership and the Indian oil dealership criteria. Indian Oil Corporation Limited is owned by the government of India and serves fuel like petrol, diesel, etc., to every citizen of the country in exchange for money. Indian oil was ranked in the Fortune Global list at 212th in 2021.
Equity shares of Indian Oil Corporation are listed on India's national stock exchange and the Bombay stock exchange. The president of India holds 57% of the claims, and the rest is divided into institutions, the general public and others. Hindustan and Bharat petroleum is the competition of IOCL. Let's read about IOCL in the article below.
Did you know?
In 2020-21, the recorded net worth of Indian oil was ₹4,63,36,5 crores. It generates employment opportunities and contributes to globalisation. It carries seven major operations sectioned as divisions such as refineries, E&C, pipelines, E&P, marketing, R&D and petrochemicals.
How Much Does the Indian Oil Petrol Pump Dealership Cost?
The regular retail outlet of IOCL will be subject to a fee of ₹15 lakhs. HP corporation owned sites for which bidding is required are rural IOCL retail outlets, which require a minimum bid amount of ₹10 lakhs, and regular retail outlets, which require a minimum of ₹30 lakhs.
How to Apply for the Indian Oil Petrol Pump Dealership?
Let's read about the step-by-step process of applying for an Indian oil petrol pump dealership.
- Firstly, present information regarding the land where you want to open the Indian oil retail outlet.
- Candidates must mention the proper address of the land and location.
- Select the category for application filings like individual, entity, finance or partnership.
- Give reference to the advertisement where you want to apply.
- Now, for individual candidates applying, some details are compulsory, like name, father's name/ husband name, phone number, residential address, pin code, date of birth, nationality, educational certificate, gender, SC/ST details and other personal information.
- Some questions will be asked and answered in yes and no.
- The candidate has to prove mental and physical stability through a certificate.
- The candidate must provide business net worth and experience in the dealership field and previous business.
- A landmark is necessary to provide land details and lease documents approved by government bodies.
- The drawn date of demand draft pay order number must be mentioned.
- Stamp paper purchased in favour of the deponent and affidavit on the same in the state should be attached with the form.
- ₹1 lakh should be deposited as refundable security.
- After fulfiling all categories, read the undertaking section, sign the form and submit.
Also Read: Petrol Pump Loan - Benefits, Eligibility, Factors To Consider While Applying For Loan
The Documents Required for the IOCL Petrol Pump Dealership
Applicants for Indian oil petrol pump dealership have to submit the documents mentioned below:-
For Individual
- Certificate of permanent residence in India.
- Age proof copy through 10th examination certificate, birth certificate, Aadhar card or Passport.
- Copy of all educational certificates required by Indian recognised organisations or abroad institutions.
- Copy of bank account statement and passbook.
- Copy of NSC along with valuation certificate.
- Copy of Demat statement and mutual funds with valuation certificate.
- Registered companies and societies should present or submit net profit for the past three financial years, which must be certified by a Chartered Accountant.
- In the sports category, people must submit a copy of the certificate from the Youth Affairs Department that comes under the Government of India.
- Applicants under the defence personnel category must present the certificate from the Directorate General of Resettlement (DGR) by the Government of India.
- A certificate of pension order or Tamrapatra by the Ministry of Home Affairs by the Government of India is issued for freedom fighter category applicants.
For Land
Documents of land which you are going to use for a retail outlet of Indian oil petrol pump dealership must fulfil these terms:
- The applicant must present Khasra and Khatauni documents issued by the Revenue department of India.
- Applicants must demonstrate a registered sale deed.
- In a lease, the candidate must submit the records of the registered lease with the period mentioned clearly.
- The government bodies issue a lease agreement letter.
For Ownership Proof
Applicant must fulfil any following conditions to support the land's ownership for the Indian oil petrol pump dealership.
- Lease registered for a minimum period along with registered sale deed.
- The certification confirms the land purchase status by showing the Khatauni and Khasta documents issued by the revenue documentation department.
- Mutation document confirming the land status in government records.
- Lease agreement issues by government bodies.
What Are the Facilities Offered in Indian Oil Petrol Pump Dealerships?
When an applicant gets the dealership, some facilities are offered along with IOCL petrol pump dealership is mentioned below:-
- Saleroom
- Tyre air facility
- Driveway
- Water availability
- Land must be surrounded by boundaries or fencing.
- Electrifications
- Fire extinguishers
- Washroom/toilet
What Are the Eligibility Criteria for an Indian Oil Dealership?
The eligibility criteria for taking the Indian oil petrol pump dealership outlet vary for individual, partnership, finance and entity applicants. Cases of non-eligible applicants are also discussed; here is the detailed information:-
For Individual
- Applicants must be permanent residents of India.
- The applicant's age category should be between 21 to 55 years, not less or not more except CC2 category of freedom fighter.
- A widow can also apply for the dealership if mentioned in the advertisement by the government.
- To avail of Kisan Seva Kendra, the applicant must be 10th pass, resident of the village or able to write, count and read. Urban area applicants must be 12th passed by a recognised board in India.
- SC/ST applicants can apply for the dealership and get the Corpus Fund Scheme.
- Sports category award winners like Bharat Khel Ratna Award, Arjuna award, etc., can apply for Indian oil petrol pump dealership. Police/government servants can apply for the dealership and run it.
For Finance
The regular candidate applying for an Indian oil petrol pump dealership requires ₹25 lakhs funds for the urban applicant and ₹12 lakhs for the rural applicant, and it can be in the forms of:-
- Company shares
- National saving scheme
- Mutual funds
- Funds in bank account(saving account)
- Funds in a postal scheme
For Entity
The entity is also called non-individual applicants like government agencies or societies registered under the Co-operative Society Act, 1912 or Societal Registration Act, 1860 or companies counted under the Company Act 1956 and 2013 or charitable trusts registered under Charity commissioners. These entities also fall under these conditions:-
- The registration date of the entity must be three years.
- The entity must be recorded in India.
- For finance, conditions for individuals are applied to each member of the entity.
- Land used for Indian oil dealerships must be owned by a family unit and accept all clauses mentioned for individual applicants.
Also Read: Start a Reliance Petrol Pump Dealership Business
For Partnership
In a partnership application for an Indian oil petrol pump dealership, each member must fulfil the conditions mentioned in individual applicants. The members have to submit individual forms to receive approval for the partnership dealership.
Some of the applicants are not eligible for a retail outlet of an Indian oil dealership under these cases:-
- Indian oil petrol pump dealers cannot employ any person for a retail outlet.
- The person approved for the dealership must manage everyday affairs and finance of the retail outlet with records for clear representation.
- If the dealer is already employed, they're required to resign before issuing an appointment letter with the resignation application.
- The dealer has to submit a notary affidavit to prove that the individual is not receiving a salary for a private-sector job.
- Either individual or partnership, or entity, the dealer has to follow the instructions mentioned in the agreement and manage the retail outlet accordingly.
Conclusion
We read about Indian oil petrol pump dealerships and their terms in the above article. All of your doubts regarding application, selection, eligibility, documentation and many more are answered in the article above. Advertisements are the first step for applying for an Indian oil petrol pump dealership, and further efforts are discussed in detail. Cases of disapproval of applicants are also mentioned so applicants can avoid mistakes. The land is considered the most important aspect of the selection process, and the documents need to be updated for smooth approval. Indian Oil Corporation Limited is the largest organisation serving petrochemicals and employment generation.
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