https://www.taxtmi.com/caselaws?id=310549 The HC dismissed a writ petition challenging bid rejection based on failure to meet minimum eligibility criteria. The petitioner consortium member showed Rs. 98.01 crores as short-term borrowings in their balance sheet under current liabilities, which disqualified them under RFQ clause 7.4. The court rejected the petitioner's attempt to reclassify this as long-term borrowing through a chartered accountant certificate, finding no sanctity in such certification against the petitioner's own records. The court found the eligibility criteria neither arbitrary nor unconstitutional, noting the petitioner had agreed to abide by all RFQ terms and conditions. en-us Wed, 01 Jun 2016 00:00:00 +0530 Mon, 30 Oct 2023 20:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310549 The HC dismissed a writ petition challenging bid rejection based on failure to meet minimum eligibility criteria. The petitioner consortium member showed Rs. 98.01 crores as short-term borrowings in their balance sheet under current liabilities, which disqualified them under RFQ clause 7.4. The court rejected the petitioner's attempt to reclassify this as long-term borrowing through a chartered accountant certificate, finding no sanctity in such certification against the petitioner's own records. The court found the eligibility criteria neither arbitrary nor unconstitutional, noting the petitioner had agreed to abide by all RFQ terms and conditions. Case-Laws Companies Law Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310549