temporary structures such as marquees, tents, pre-fabricated office units, porta cabins/WC units, chairs, fences, barricades, temporary partitions etc.) on turnkey rental basis for supply, installation, testing, commissioning, operation, maintenance, de-commission and removal of Overlays for Cluster I to VII. The Respondent (hereafter “Pico”) submitted its bid for all seven clusters (including cluster I and VI) on 26.02.2010. Its bid for providing overlays for clusters I and VI was the lowest and was accepted; bids for other clusters were not accepted. Later, Pico submitted a revised price after negotiation during the period 26.03.2010 to end April 2010 and bid was accepted only for Cluster I & VI on the basis of the revised price. OCCG issued a Letter of Intent (Lol) dated 05.05.2010 to Pico, accepting the revised price quoted by it. OCCG also issued a letter, dated 18.05.2010 to Pico proposing to sign a formal turnkey contract, on rental basis for Commonwealth Games Delhi 2010 for a total value of 1,239,597,128/- for Cluster I works and 852,455,662/- for Cluster VI works. The amounts were inclusive of all taxes and duties but excluded service tax (which was to be paid extra @10.3%). Thus, the total contract value for the said two Clusters was `2,092,052,790/-.