Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Tender eligibility conditions based on financial...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Tender eligibility conditions based on financial creditworthiness may exclude companies whose Promoter Directors are defaulters or associated with non-performing credit facilities, because persons controlling a closely held company affect its commercial standing. The discussion treats a "Promoter Director" as extending beyond formal promoter classification to a person exercising direct or indirect control over management or policy, including through continuing executive functions. Tender terms remain within the contractual domain, with judicial review limited to arbitrariness, irrationality, mala fides or bias. A bidder that participates with knowledge of the conditions and undertakes compliance cannot ordinarily challenge them after disqualification. The reported decision found no manifest arbitrariness or Article 14 violation, while leaving the underlying question of default open in the pending writ petition.
Tender eligibility conditions based on financial creditworthiness may exclude companies whose Promoter Directors are defaulters or associated with non-performing credit facilities, because persons controlling a closely held company affect its commercial standing. The discussion treats a "Promoter Director" as extending beyond formal promoter classification to a person exercising direct or indirect control over management or policy, including through continuing executive functions. Tender terms remain within the contractual domain, with judicial review limited to arbitrariness, irrationality, mala fides or bias. A bidder that participates with knowledge of the conditions and undertakes compliance cannot ordinarily challenge them after disqualification. The reported decision found no manifest arbitrariness or Article 14 violation, while leaving the underlying question of default open in the pending writ petition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
