KRISHAN LAL vs FOOD CORPN. OF INDIA .

The Supreme Court upheld the High Court's decision regarding the Food Corporation of India's tender process, emphasizing that the appellant's withdrawal from the contract after execution constituted a breach of contract. The Court reiterated that once a formal agreement is executed, the parties are bound by its terms, and the appellant's earlier offer to undertake the work at a lower rate was irrelevant post-agreement. The dismissal of the appellant's petition for refund of the security deposit was affirmed, as the conditions for refund were not met due to the breach.