INFOTECH 2000 INDIA LIMITED Vs. STATE OF PUNJAB

JUDGEMENT

(1.) The challenge in the present writ petition is to the letter of intent dated 25-6-2003, Annexure P-7. The petitioners have also claimed release of bank guarantee dated 5-2-2003 of Rs. 2 crores.

(2.) Petitioners Nos. 1 and 3 are the Companies within the meaning of the Companies Act, 1956 (thereinafter to be referred as "the company") whereas petitioners Nos. 2 and 4 are the authorised representatives of petitioners Nos. 1 and 3 respectively. A notice inviting tender was published in the month of January, 2003 by respondent No. 2 on behalf of respondent No. 1 inviting bids from the prospective bidders for online lottery system. The bid comprised of technical bid and financial bid. Petitioner No. 1 formed a consortium with petitioner No. 3 and respondent Nos. 4 to 6 and submitted the bid on 7-2-2003. In terms of the tender condition, a bank guarantee for a sum of Rs. 2 crores was furnished towards earnest money.

(3.) The petitioners along with three other bidders were found to be technically qualified and, thus, became eligible for opening of their respective financial bids. M/s. Jindal Pipes Limited (hereinafter to be referred as "H1") was found to be the highest bidder whereas the consortium led by petitioner No. 1 (hereinafter to be referred as 'H2') was the second highest bidder. A letter of intent was issued to "H1 on 17-2-2003.