(1.) In this writ petition, the petitioner challenges the forfeiture by respondents of earnest money deposit (for short, the 'EMD') of Rs. 4,40,000/- given by it in relation to tender notification in Roc. No. ER. 4/6149/ADV/42/2001 dt. 30-03-2001 issued by the respondents and seeks its refund with interest @ 24% per annum.
(2.) The petitioner firm submitted its tender on 28-04-2001 and quoted the lowest rate amongst all the tenderers i.e. Rs. 1,314/- per 100 kgs. net. One M/s. Venkateswara Agencies quoted Rs. 1,345.56 ps. and was the next lowest tenderer.
(3.) A Selection Committee consisting of the Joint Executive Officer, Tirupathi, Financial Adviser and Chief Accounts Officer, General Manager (Transport), Director (S.V. Dairy Farm) and the 2nd respondent invited the petitioner for negotiations on 16-05-2001 and 18-05-2001. The petitioner did not reduce its rate during the negotiations and gave a letter to that effect on 19-05-2001.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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