JAIKRISHNA INDUSTRIES LTD. vs STATE OF MAHARASHTRA .

The Supreme Court ruled that the Mumbai Housing and Area Development Board (MHADA) acted inequitably by cancelling the provisional acceptance of the Appellant's bid for a plot of land, which was the highest bid at Rs. 22,22,22,300. The Court held that the Appellant had a right in equity for settlement, especially given the interim order allowing it to propose a fresh bid. The Court reinstated the Appellant's provisional bid acceptance and directed MHADA to consider it, emphasizing that the normal tender process could be deviated from in this case due to the peculiar facts.