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2016 (5) TMI 1409 - SUPREME COURTBiding - reserve price sale eligibility - Himachal Tourism inviting bids from interested parties for outright purchase of sites located at three places in Himachal Pradesh including Café Aabshar in District Solan situated at 3 kilometers from town named Kandaghat - Held that:- Mr. Bakshi, learned Advocate is right in his submission that no reserve price was fixed while inviting bids from interested parties. The Expert Committee may have indicated a figure as reserve price, however, the advertisement did not indicate any. Precisely for this reason, even the bid given by respondent No.1 was far below the figure of ₹ 30,78,000/-. The High Court was clearly in error in accepting this plea on behalf of respondent No.1 Now, the question that remains to be considered is whether requirement to furnish Annual Turnover and Net Worth for last three years was a mandatory condition for infraction of which the bid made by the appellant had to be rejected. We, therefore, allow this Appeal and set aside the decisions rendered by the Single Judge and the Division Bench of the High Court in the present matter. The Letter of Intent dated 02.03.2010 and consequent Sale Deed dated 31.03.2010 in favor of the appellant are held valid and correct.
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