TAMIL NADU HOUSING BOARD Vs. S.GANESAN

JUDGEMENT

(1.) Leave granted.

(2.) The first appellant [Board, hereafter] invited sealed bids for disposal of Prime Commercial Plot No. PC-16 at Razaak Garden Road, Arumbakkam, Chennai - 600106 [Plot, hereafter]. An open auction was conducted on 23/9/1986. The respondent participated in such auction and offered a bid of Rs.4,78,921.00. He emerged as the highest bidder and was declared as such.

(3.) Vide letter No. AS 1/11364/1986 dtd. 23/12/1986, the Board communicated acceptance of the respondent's offer for the Plot with a request to him to pay Rs.1,19,731.00 towards 25% as the initial deposit within 15 days from date of receipt thereof to enable it issue the Regular Allotment Order.