https://www.taxtmi.com/highlights?id=102014 Tender eligibility conditions based on financial creditworthiness may exclude companies whose Promoter Directors are defaulters or associated with non-performing credit facilities, because persons controlling a closely held company affect its commercial standing. The discussion treats a "Promoter Director" as extending beyond formal promoter classification to a person exercising direct or indirect control over management or policy, including through continuing executive functions. Tender terms remain within the contractual domain, with judicial review limited to arbitrariness, irrationality, mala fides or bias. A bidder that participates with knowledge of the conditions and undertakes compliance cannot ordinarily challenge them after disqua..... en-us Fri, 24 Jul 2026 08:36:14 +0530 Fri, 24 Jul 2026 08:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102014 Tender eligibility conditions based on financial creditworthiness may exclude companies whose Promoter Directors are defaulters or associated with non-performing credit facilities, because persons controlling a closely held company affect its commercial standing. The discussion treats a "Promoter Director" as extending beyond formal promoter classification to a person exercising direct or indirect control over management or policy, including through continuing executive functions. Tender terms remain within the contractual domain, with judicial review limited to arbitrariness, irrationality, mala fides or bias. A bidder that participates with knowledge of the conditions and undertakes compliance cannot ordinarily challenge them after disqua..... Highlights Companies Law Fri, 24 Jul 2026 08:36:14 +0530 https://www.taxtmi.com/highlights?id=102014