Firm Matters

Khaitan & Co represented Citystar Infraprojects Ltd, a group entity of Godrej Properties Ltd, in appeal proceedings before the Calcutta High Court filed by WBHIDCO challenging an injunction order passed by the Single Bench. The Division Bench confirmed and upheld the injunction order staying the arbitrary cancellation of e-auction by WBHIDCO and holding that the there was no clause in the Notice For e-Auction which provided that undisclosed Reserve Price would be communicated by a different department of the State after the bids were received, thus the bidders proceeded on the basis that the starting price of Rs.292.94 crores was the Reserve Price, therefore cancellation on the ground that bids submitted were lesser than the undisclosed reserve price is contrary to terms of the tender documents, thus deserves to be stayed.