Money & Corp · Supreme Court of India
2d
AI illustrationShould past bids decide if new auction wins count?
Your callWas canceling the auction fair due to lower new bids?
TL;DR
- 1Two companies, Dhanlaxmi and Sahakar, bid to operate sand mines after surrendering previous, pricier contracts.
- 2Their new bids for mining in Shahdol and Katni were much lower than before, even though they still met reserve prices.
- 3The state canceled the auction, saying the new bids were too low to protect public money.
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