G.C.Gupta, J. - (1.) The Eastern Coalfields Limited issued a notice dated 28th February, 2005 inviting tenders for expansion of the coal production of Rajmahal. "Expansion of the Coal production of Rajmahal OCP from 10.5 MTY level to 17 MTY capacity level and corresponding overburden removal."
(2.) The period of intended contract was eight years. The amount of earnest money was a sum of Rs. 10 crores split up in two parts: the first part consisting of INR 2.5 crores or its equivalent USD on prevailing exchange rates and a bid security bank guarantee for INR 7.5 crores or its equivalent USD in the prescribed format to be issued by a nationalised or RBI scheduled Indian bank. The clause as regards earnest money appearing in the notice inviting tender reads as follows: "Earnest Money: Magnetic Ink Character Recognition (MICR) Bank Draft of INR 2.5 Crores or equivalent USD on prevailing exchange rate on the date of floating of the tender on the website in favour of 'Eastern Coalfields Ltd.' on any Nationalized/Scheduled Bank in India payable at Asansol preferably on State Bank of India and Bid Security Bank Guarantee for INR 7.50 Crores or its equivalent USD in the format prescribed by ECL on Nationalised/RBI approved Scheduled Indian Bank at prevailing exchange rate on the date of floating of the tender on the website."
(3.) The Eastern Coalfields Limited reserved the right unto itself to accept or to reject any or all the tenders without assigning any reason whatsoever as would appear from Clause 17 of the notice inviting tenders. The last date for submission of tender was 20th July, 2005. By a corrigendum dated 19th April, 2005 the last date of submission of tender was extended till 19th August, 2005. By a further corrigendum dated 9th August, 2005 the last date of submission of tender was extended till 26th October, 2005. By a still further corrigendum dated 19th October, 2005 the last date of submission of tender was extended till 20th December, 2005. Each of the corrigendums issued by the Eastern Coalfields Limited contained a stipulation that all other terms and conditions remained unchanged.;