M/s. South India Corporation v. M/s. Kamarajar Port Limited
Case brief
What is this about?
This Court dismissed a writ petition challenging the rejection of a bid for an iron ore terminal project. The Court held that the bidder must individually satisfy the Net Tangible Asset criteria specified in the RFQ and rejected the argument for aggregating consortium members' assets. The Court also upheld the classification of specific borrowings as short-term liabilities.
What did the court decide?
Writ petition dismissed; Request for Qualification upheld; Petitioner's bid rejection sustained.