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2009 (2) TMI 102 - HC - CustomsGoods were offered for auction and the successful bidders were required to pay the earnest money of 10 per cent of the bid value on declaration of result of auction- no communication made informing the first petitioner(who had made the bid) of the confirmation/approval of the bid – petitioners say that since authorities have failed to issue communication of approval of the bid or the delivery order in respect of the goods, the petitioners no longer remain obliged to pay the balance amount and therefore, they are entitled to seek refund of the earnest deposit – held that petitioner claim is not acceptable because earnest money was deposited on the understanding of the petitioners that the offer had been accepted. All that was left to be done was for the petitioners to put in the balance money, obtain the delivery order and remove the goods
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