Chief Executive Officer And Vice ... vs Asiatic Steel Industries Ltd.

The Supreme Court upheld the High Court's decision to grant a refund of ₹3,61,20,000 to Asiatic Steel Industries Ltd. for a contract with the Gujarat Maritime Board, which was deemed invalid. The court found that the Board had failed to comply with the necessary legal requirements for the tender process, thus justifying the refund and the interest awarded for the delay in payment. The ruling emphasizes the importance of adherence to procedural norms in public contracts.