Search Results for "earnest money forfeiture"

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Supreme Court Allows Appellant in Mining Auction Dispute Due to Arbitrary Forfeiture of Earnest Money. Writ Jurisdiction Exercised Under Article 226 of the Constitution as Government Action Was Unreasonable and Facts Were Undisputed, Directing Refund of Forfeited Amount.

The dispute arose from a mining auction conducted by the Directorate of Mining, Industries and Commerce Department, Chandigarh, Punjab. The appellant,...

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Supreme Court Allows Appeal in Specific Performance Case — Time Was Essence of Contract; Forfeiture of Earnest Money Upheld. Breach by Buyer in Agreements to Sell Land in Gurgaon Leads to Dismissal of Suit for Specific Performance and Refund of Earnest Money.

The case involves a dispute over two agreements to sell agricultural land in Gurgaon, executed on 17.02.2004, between the appellants (sellers) and the...

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Bombay High Court Dismisses Petition Challenging Forfeiture of Earnest Money Deposit in Tender Dispute. Withdrawal of Offer Before Acceptance by Standing Committee Does Not Bar Forfeiture Under Tender Conditions.

The Petitioner, M/s Hasmukhlal & Co., submitted a tender in June 2000 to the Municipal Corporation for Greater Mumbai for supply of road metal. The te...

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High Court of Karnataka Dismisses Petition Challenging Cancellation of Bid and Forfeiture of EMD for Delayed Payment in BDA E-Auction. Time for payment of 25% bid amount was of essence; failure to deposit within 72 hours justified cancellation and forfeiture.

The petitioner, Srinivas H., participated in an e-auction conducted by the Bangalore Development Authority (BDA) on 9.12.2014 for the allotment of sit...

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Bombay High Court Allows Petition Against Forfeiture of Earnest Money in Toll Collection Tender Dispute. Variation in Contract Period from 90 Weeks to 52 Weeks Constitutes Counter-Offer, Not Acceptance, Thus Forfeiture Invalid.

The petitioner, M/s Abhay Construction, a partnership firm, submitted a tender to the Maharashtra State Road Development Corporation Ltd. for collecti...

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High Court of Karnataka Allows Liquidator's Appeal, Upholds Forfeiture of EMD and PDM for Default by Successful Bidder in Liquidation Sale. Writ Petitioner's Failure to Pay Balance Sale Consideration Within Stipulated Time Justified Forfeiture Under IBC Regulations.

The appellant, Sri Pankaj Srivastava, Liquidator of M/s Samrudhi Realty Ltd., appealed against an order dated 12.12.2024 passed by a learned Single Ju...

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Supreme Court Partially Allows Builder's Appeal in Consumer Dispute Over Forfeiture of Earnest Money — Reduces Forfeiture from 20% to 10% of Basic Sale Price. Court upholds NCDRC's power to strike down unconscionable contractual terms but modifies interest rate and forfeiture percentage based on facts.

The present appeal arises from a consumer complaint filed by the respondents (buyers) against the appellant (builder, Godrej Projects Development Limi...

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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

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Bombay High Court Allows Writ Petition for Return of Security Deposit in Tender Dispute - Bank Cannot Forfeit Deposit Without Express Contractual Term. Petitioner withdrew offer before acceptance; no concluded contract; Bank directed to refund Rs.25,00,000/- with interest.

The petitioner, M/s. Bholenath Trading Company, a partnership firm, submitted a tender in response to a tender notice dated 9.10.2004 issued by the re...