https://www.taxtmi.com/caselaws?id=272427 PNGRB's ability to extend time for furnishing a performance bank guarantee after issuance of the letter of intent was upheld where the tender conditions did not expressly prohibit extension and clause 4.7.3 reserved a right to cancel, which also allowed a considered decision not to cancel. The process up to the letter of intent was completed validly under the tie-break mechanism, and the later dispute concerned only compliance with the performance guarantee stage. The extension was treated as a public-interest decision because the selected bidder was offering a substantially larger guarantee and cancellation would have delayed the project. No mala fides, arbitrariness, discrimination, or breach of tender terms was found. en-us Mon, 05 Oct 2015 00:00:00 +0530 Wed, 02 May 2018 21:06:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272427 PNGRB's ability to extend time for furnishing a performance bank guarantee after issuance of the letter of intent was upheld where the tender conditions did not expressly prohibit extension and clause 4.7.3 reserved a right to cancel, which also allowed a considered decision not to cancel. The process up to the letter of intent was completed validly under the tie-break mechanism, and the later dispute concerned only compliance with the performance guarantee stage. The extension was treated as a public-interest decision because the selected bidder was offering a substantially larger guarantee and cancellation would have delayed the project. No mala fides, arbitrariness, discrimination, or breach of tender terms was found. Case-Laws Indian Laws Mon, 05 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272427