https://www.taxtmi.com/caselaws?id=289710 An auction bid made subject to acceptance within a fixed period remains operative only for that period, including any express extension. Where acceptance and confirmation of sale do not occur before expiry of the extended time, the bid cannot be treated as continuing indefinitely. On those facts, the bidder is entitled to withdraw from the offer after the stipulated period ends and seek refund of the earnest money. The operative principle is that a time-bound qualified offer lapses on expiry if not accepted within the agreed period. en-us Mon, 22 Jan 2001 00:00:00 +0530 Mon, 17 Aug 2020 15:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289710 An auction bid made subject to acceptance within a fixed period remains operative only for that period, including any express extension. Where acceptance and confirmation of sale do not occur before expiry of the extended time, the bid cannot be treated as continuing indefinitely. On those facts, the bidder is entitled to withdraw from the offer after the stipulated period ends and seek refund of the earnest money. The operative principle is that a time-bound qualified offer lapses on expiry if not accepted within the agreed period. Case-Laws Indian Laws Mon, 22 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289710