Supreme Court of India
National Thermal Power Corporation Ltd. v. M/s. Ashok Kumar Singh & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Government contracts: Forfeiture of earnest money on withdrawal of bids- Challenged- Held: In terms of condition no.2 of Special condition of contract, revocation of tender was by itself sufficient to call for forfeiture of earnest money- Therefore, respondents cannot contend that the right to withdraw the bid in terms of s. 5 of the Contract Act, 1872 would entitle them to withdraw without suffering forfeiture of the earnest money.…
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