https://www.taxtmi.com/caselaws?id=355426 The court upheld the NDMC's decision to cancel the Letter of Intent (LoI) and forfeit the Earnest Money Deposits (EMDs) of the petitioners. The court found that the petitioners' failure to comply with the Notice Inviting Tenders (NIT) terms and their financial connections with defaulter companies justified the NDMC's actions. Emphasizing the importance of transparency and public interest in the tender process, the court dismissed the writ petitions, stating that the NDMC's decision was not arbitrary or mala fide. en-us Thu, 18 Jan 2018 00:00:00 +0530 Wed, 14 Feb 2018 09:43:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355426 The court upheld the NDMC's decision to cancel the Letter of Intent (LoI) and forfeit the Earnest Money Deposits (EMDs) of the petitioners. The court found that the petitioners' failure to comply with the Notice Inviting Tenders (NIT) terms and their financial connections with defaulter companies justified the NDMC's actions. Emphasizing the importance of transparency and public interest in the tender process, the court dismissed the writ petitions, stating that the NDMC's decision was not arbitrary or mala fide. Case-Laws Companies Law Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355426