https://www.taxtmi.com/caselaws?id=113193 The Supreme Court upheld the High Court's decision regarding the forfeiture of earnest money in a tender dispute. The Court found that the correction made by the petitioner in the tender offer constituted a revocation of the original offer, justifying the respondent's right to forfeit the earnest money as per the tender conditions. The judgment relied on established legal principles stating that earnest money is forfeited if a deal fails due to the fault of the offering party. Consequently, the Supreme Court dismissed the Special Leave Petition, affirming the forfeiture of earnest money by the respondent. en-us Tue, 21 Sep 2010 00:00:00 +0530 Tue, 13 Aug 2013 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113193 The Supreme Court upheld the High Court's decision regarding the forfeiture of earnest money in a tender dispute. The Court found that the correction made by the petitioner in the tender offer constituted a revocation of the original offer, justifying the respondent's right to forfeit the earnest money as per the tender conditions. The judgment relied on established legal principles stating that earnest money is forfeited if a deal fails due to the fault of the offering party. Consequently, the Supreme Court dismissed the Special Leave Petition, affirming the forfeiture of earnest money by the respondent. Case-Laws Companies Law Tue, 21 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113193