STEEL UNION PRIVATE LTD Vs. COMMISSIONER OF CUSTOMS

JUDGEMENT

(1.) WE have heard learned counsel for the parties at length. We have also perused the papers. Learned single judge has noted the very brief facts, which may be recapitulated.

(2.) THE customs authorities has conducted an e-auction for sale of 1956 wheel sets with shaft of Romanian origin weighing about 2398 MT. The goods were offered on as is where is basis and the successful bidders were required to pay the earnest money of 10 per cent of the bid value within seven days of the declaration of the result of the auction. The auction was open to bidders registered with the customs as access to the auction website was only by keying in the allotted user ID and password. The duration of the process of auction was to be notified on the website.

(3.) THE first petitioner put in a bid, which according to the first petitioner was the highest. Upon the bid of the petitioner being accepted, 10% of the earnest money was deposited within the stipulated time, amounting to Rs. 68 Lac. Thereafter, according to the petitioners, respondents failed to confirm the auction as required under the General Conditions of Sale.