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2010 (9) TMI 225 - SC - Companies LawWhether the petitioner by revising one of the figures in its tender from Rs. 23,76,000 to Rs. 32,76,000 revoked its offer? Held that:- SLP dismissed. In facts of the present case, the respondents have stated in their reply to the Writ Petition before the High Court that as a consequence of the failure of the petitioner to stand by its offer dated 5-5-2004 the tender for the work had to be reinvited by the respondent No. 2 on revised costs of the construction and in the circumstances, the respondent No. 2 had to forfeit the earnest money of the petitioner. This was thus a case where on account of failure on the part of the petitioner to stand by its offer, the transaction or the contract did not come through and therefore the respondents were entitled to forfeit the earnest money furnished by the petitioner in terms of Clause 6 of the Notice. Not inclined to interfere with the impugned judgment of the High Court who has taken the view in the impugned judgment that as a consequence of the change in the figures, the offer of the petitioner for the work was enhanced from Rs. 32 crores to Rs. 41 crores and, therefore, the original offer of Rs. 32 crores for the work stood revoked.
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