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2012 (10) TMI 271 - DELHI HIGH COURTRefund of Earnest Money - Held that:- The bids had been closed and accepted on October 13, 2011. In any case, the applicant had participated in sale/auction proceedings knowing fully well the terms and conditions of the sale and therefore, the applicant is bound by the terms and conditions and cannot be permitted to contend to the contrary at this stage. - Tender/Bids binding down the second highest bidder in the event of default by the auction purchaser would be rendered futile - Application is dismissed with costs of Rs. 25,000/- to be paid to the official liquidator within a period of four weeks.
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