M. LACHIA SETTY & SONS LTD. ETC. ETC. vs THE COFFEE BOARD, BANGALORE

The Supreme Court held that Condition 8 of the auction terms prohibits telegraphic withdrawal of bids, affirming that such instructions are impermissible. The Court found that the appellants' bids constituted a concluded contract despite their claims of revocation, as the Board's acceptance of lower bids was within its rights under Condition 6. The appeals were dismissed, upholding the High Court's decree in favor of the Board for recovery of losses incurred due to resale of the stocks.