PARADIGM HOTELS PRIVATE LTD Vs. EDC LIMITED

JUDGEMENT

(1.) IN pursuance to a notice before admission issued by this Court on 25th March, 2004. the respondent has appeared and filed affidavit -in -reply. We have heard learned Counsel for the parties extensively and are disposing of the petition at the stage of admission itself, with the consent of the learned Counsel.

(2.) BY this petition the petitioner seeks a writ of mandamus, or any other appropriate writ or order or direction under Article 226 of the Constitution of India, directing the respondent to forthwith accept the petitioner's tender for purchase of the property for Rs. 2,70,00,000/ - only,

(3.) IN our opinion, the tender notice published in the newspaper on December 27, 2003, was only an invitation to an offer. The tender submitted by the petitioner to purchase the borrower's assets constituted an offer and the binding contract would have come into existence only if the offer was accepted. The respondent was not bound to accept the offer submitted by the petitioner merely because it was the highest offer. Of course, the respondent could not have accepted any offer less than the offer made by the petitioner, in view of the decision of the Apex Court in Ramana Dayaram Shetty v. International Airport Authority of India : (1979)IILLJ217SC .