ATIBIR INDUSTRIES COMPANY LIMITED Vs. CENTRAL COALFIELDS LIMITED

JUDGEMENT

(1.) The instant Writ Petition has been filed against the forfeiture of the earnest money Rs.23,80,000.00 towards earnest money deposited by the petitioner.

(2.) Petitioner's company is engaged in manufacturing of sponge iron and had participated in E. Auction conducted by Respondents-CCL in the Month of October, 2011. He was declared successful bidder and letter with respect to the aforesaid auction was communicated to the petitioner by 'e-mail' on 31/10/2011.

(3.) As per the stipulation of the bid notice, the payment had to be made by two designated accounts of the petitioner. However, the petitioner deposited the value of coal amounting to Rs.1,33,67,700.00 through RTGS mode on 9/11/2011 by the account which was not one of the non-designated accounts by which the said payment was required to be made. Since payment was made from non-designated account, as such, the coal was not supplied nor the amount was refunded.