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2015 STPL(Web) 681 ORI [AIR 2015 ORISSA 46] ORISSA HIGH COURT (AMITAVA ROY, C. J. AND DR. A. K. RATH, JJ.) CHANDANESWAR ENTERPRISES LTD. Petitioner VERSUS INDUSTRIAL PROMOTION & INVESTMENT CORPORATION OF ORISSA LTD. Respondent W. P. (C) No. 17035 of 2007-Decided on 22-12-2014. Contract Act,1872, Sections 7, 74 - Earnest Money - Forfeiture of - Sale notice stipulates that "if the offer is accepted by the Corporation and the offerer (s) does not come forward to accept the same, the amount deposited with the offer shall be forfeited - Amount deposited with the offer will be refunded without any interest in case the offer is not accepted by the Corporation Offers invited from intending parties for sale of assets - Final offer made by the petitioner was not accepted in toto - Since the offer was not accepted by the opposite party, the question of forfeiture of E.M.D does not arise at all - Forfeiting the E.M.D. of the petitioner liable to be quashed - Opposite party directed to ...

1) Fateh Chand v. Balkishan Dass AIR  1963  SC  1405 2) (Kunwar)  Chiranjit Singh v. Har Swarup AIR 1926 P.C. 1 3) Shree Hanuman Cotton Mills and Others v. Tata  Air  Craft  Limited 1969 (3) SCC 522 4) Delhi  Development  Authority  v.  Grihstrapana  Cooperative  Group Housing Society Ltd. 1995  Supp  (1)  SCC  751 5) V. Lakshmanan v. B.R. Mangalgiri and others (1995) Suppl.  (2)  SCC 33 6) Housing Urban Development Authority and another  v.  Kewal  Krishan Goel  and  others  (1996)  4  SCC  249 7) Videocon  Properties  Ltd.  v.  Dr.  Bhalchandra  Laboratories and others (2004) 3 SCC 711 IN THE SUPREME COURT OF INDIA                         CIVIL APPELLATE JURISDICTION                   ...