June, 2014, the Letter of Acceptance stood cancelled. The petitioner, however, vide letter dated 24th June, 2014 sent a communication to Respondent No.3 in reference to his letter dated 19th June, 2014, stating therein that she was in the process of arranging a bank guarantee of Rs.1,32,64,260/for which she has mortgaged her land and flat and had also deposited 25% of the bank guarantee amount with the bank. She further stated in the said letter that since the bank guarantee was of higher value, the matter was to be taken up in Regional Branch which might take approximately one month more. Showing her willingness to execute agreement, she stated that she was ready to deposit one week's license fee for permitting her to operate the stand on temporary basis and that if she failed to deposit the bank guarantee, the contract may be cancelled and even the amount already deposited with the respondents may also be forfeited. A letter was also sent by the concerned official of the bank (Bank of India), who had to issue the bank guarantee to the writ petitioner, to Respondent No.3 stating therein that the bank was in the process to issue the bank guarantee for which the sanctioning authority was Zonal Office, Jamshedpur, therefore, the entire process could take 10-15 days’ time. The respondents however, did not accede to the request of the petitioner and by cancelling the Letter of Acceptance went