https://www.taxtmi.com/caselaws?id=308990 The Court allowed the appeal, setting aside the previous judgment and directing the respondents to refund the Earnest Money Deposit (EMD) to the petitioner with interest in case of delay. It held that the termination of the contract and forfeiture of EMD were unjustified and arbitrary as the bidding document instructed bidders to enter prices without taxes, and the petitioner's bid was accepted based on this condition. The Court emphasized the importance of clarity in tender conditions and the necessity for unconditional acceptance of offers in contracts, ensuring fairness and legality in contract terminations. en-us Wed, 18 Dec 2019 00:00:00 +0530 Fri, 04 Aug 2023 21:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308990 The Court allowed the appeal, setting aside the previous judgment and directing the respondents to refund the Earnest Money Deposit (EMD) to the petitioner with interest in case of delay. It held that the termination of the contract and forfeiture of EMD were unjustified and arbitrary as the bidding document instructed bidders to enter prices without taxes, and the petitioner's bid was accepted based on this condition. The Court emphasized the importance of clarity in tender conditions and the necessity for unconditional acceptance of offers in contracts, ensuring fairness and legality in contract terminations. Case-Laws Indian Laws Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308990