STATE OF HARYANA vs M/S MALIK TRADERS

The Supreme Court upheld the decision of the Punjab & Haryana High Court regarding the forfeiture of Bid Security under the terms of the tender process. The Court emphasized that the respondent, M/s. Malik Traders, was bound by the terms of the bid which required them to keep their offer open for 90 days and to deposit the security amount upon acceptance. The Court held that the forfeiture of the Bid Security was justified as the respondent failed to comply with the conditions after being awarded the contract, thus affirming the High Court's ruling.