https://www.taxtmi.com/caselaws?id=755640 The SC held that a bona fide typographical error in an e-auction bid warranted relief under principles of proportionality and equity. The court distinguished the case from Patel Engineering Co. Ltd., noting the mistake was inadvertent human error without mala fides, unlike the delayed correction attempt in Patel Engineering. Forfeiture of the appellant's security deposit worth Rs 9,12,21,315 was deemed punitive and disproportionate. The court emphasized that enforcing a commercially unviable bid with deposit forfeiture would not serve either party's interests. The civil appeal was partly allowed, suggesting recommencement of the e-auction process while recommending cross-verification procedures to prevent future errors. en-us Mon, 15 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755640 The SC held that a bona fide typographical error in an e-auction bid warranted relief under principles of proportionality and equity. The court distinguished the case from Patel Engineering Co. Ltd., noting the mistake was inadvertent human error without mala fides, unlike the delayed correction attempt in Patel Engineering. Forfeiture of the appellant's security deposit worth Rs 9,12,21,315 was deemed punitive and disproportionate. The court emphasized that enforcing a commercially unviable bid with deposit forfeiture would not serve either party's interests. The civil appeal was partly allowed, suggesting recommencement of the e-auction process while recommending cross-verification procedures to prevent future errors. Case-Laws Indian Laws Mon, 15 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755640