NECTAR LIFESCIENCE LIMITED Vs. STATE OF PUNJAB

JUDGEMENT

(1.) PURSUANT to a notice inviting tenders for purchase of 44.26% equity shares held by the Punjab State Industrial Development Corporation (PSIDC) in Punjab Alkalies and Chemicals Limited (PACL), fourteen companies including the writ petitioner-Company submitted their respective responses. The bid submitted by the petitioner-Company was found to be technically qualified. In a meeting held on 7.12.2010 of the Cabinet Sub-committee a decision was taken not to approve the bid of the petitioner-Company. The Cabinet sub Committee came to take up the matter on a reference made by the Core Committee of Officers on Disinvestment in a meeting held on 14th September, 2010 which was presided over by the Chief Secretary of the State of Punjab. The resolution of the meeting of the Cabinet Sub-Committee in which the aforesaid decision was reached may be extracted below:

(2.) AGGRIEVED by the said order, the petitioner is before this Court.

(3.) THE delayed approach to this Court has been sought to be explained by the learned counsel for the petitioner by contending that on 7.1.2011, the petitioner-Company wrote a letter (Annexure P-5) seeking information with regard to the status of its bid to which a cryptic reply was given by respondent No.1 on the same date (Annexure P-7) that contained a reference to para 2.25(b) of the Request for Qualification Document. In terms of the aforesaid paragraph, no queries were to be entertained with regard to the progress of the bids submitted. According to the petitioner, it is only after another writ petition (C.W.P.No.996 of 2011) was filed by another disqualified bidder that the details of the rejection of the bids of the petitioner came to its knowledge leading to the filing of the present writ petition. Learned counsel has further submitted that the due diligence process is for the benefit of the bidders and the petitioner is ready and willing to relinquish its rights under the said process.