Gauhati High Court Pyramid E And C Projects Pvt. Ltd vs The Assam Petro Chemicals Limited And 3 ... on 22 September, 2022 Page No.# 1/27 GAHC010111372020 THE GAUHATI HIGH COURT (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH) Case No. : WP(C)/3242/2020 PYRAMID E AND C PROJECTS PVT. LTD A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956, AND HAVING ITS REGISTERED HEAD OFFICES AT 6TH FLOOR, B WING, I THINK TECHNO CAMPUS, OFF. EASTERN EXPRESS HIGHWAY, POKHRAN ROAD NO. 2, THANE WEST, MAHARASTRA INDIA400607 AND REP. B HEREIN BY ITS DIRECTOR PROPOSALS PYRAMID E AND C PROJECTS LTD. VERSUS THE ASSAM PETRO CHEMICALS LIMITED AND 3 ORS. A GOVT. OF ASSAM UNDER TAKING HAVING ITS HEAD OFFICE AND FACTORY SITE AT NAMRUP, P.O. PARBATPUR, DIST. DIBRUGARH, ASSAM, PIN786623 2:THE MANAGING DIRECTOR ASSAM PETROCHEMICALS LTD. 4TH FLOOR ORION PLACE MAHAPURUSH SRIMANTA SANKARDEV PATH BHANGAGARH GUWAHATI781005 3:THE SARASWAT COOPERATIVE BANK LTD. A SCHEDULED URBAN COOPERATIVE BANKING INSTITUTION WITH ITS REGISTERED OFFICES AT EKANATH TAHKUR BHAWAN 953 APPARSAHEB MARATHE MARG PRABHADEVI MUMBAI400025 MAHARASHTRA. 4:THE ICICI BANK LTD. SOHAM PLAZA CHAITALSAF MANPADA Page No.# 2/27 THANE GODHUNDER ROAD THANE (W)4000607 REP. BY ITS BRANCH MANAGE Advocate for the Petitioner : MR. P K TIWARI Advocate for the Respondent : GA, ASSAM BEFORE HONOURABLE MR. JUSTICE DEVASHIS BARUAH ORDER Date : 22092022 Heard Mr. R.J. Das, the learned counsel appearing on behalf of the petitioner. Also heard Mr. K.N. Choudhury, the learned senior counsel assisted by Mr. N Deka, the learned counsel appearing on behalf of the respondent Nos.1 & 2. None has appeared on behalf of the respondent Nos.3 & 4. 2. The instant writ petition has been filed challenging the communication dated 27.07.2020 issued by the Respondent Nos.1 & 2 to the petitioner; for a direction to the respondent Nos.1 & 2 to permit the petitioner to carry out the contract at the original cost and rates with a suitable eligible technological supplier to perform the required transfer of technology in establishing the Formaldehyde plant as per the original tender terms and conditions; for quashing and setting aside the notice of termination dated 20.08.2020 and all other consequential actions. Further to that, in the interim, it was prayed that a direction be issued to the respondent No.1 to Page No.# 3/27 refrain from forfeiting the Earnest Money Deposit covered by BG No. 48/1 dated 15.07.2019 amounting to Rs.44,25,000/ lakhs and not to issue any termination order to the petitioner with respect to the contract in question. 3. The brief facts of the instant case is that the Respondent No.1 Company on 16.05.2019 floated an Invitation to Bid (for short ITB) for execution of its 200 TPD Formaldehyde Project at Daknabari, Boitamari in Western Assam. Thereupon the respondent No.1 issued 3 corrigendums to the initial ITB whereby vide the corrigendum No.1 some changes were made to the bid terms and the Corrigendum Nos.2 & 3 were with respect to the extension of time. 4. In terms with paragraph 3.3 of the ITB, the bid was required to be accompanied by an Earnest Money Deposit (EMD) of Rs.44,25,000/ and the same was required to be made in the form of Bank Guarantee or Demand Draft payable to Assam PetroChemicals Limited at Punjab National Bank, Bhangagarh Branch, Guwahati. The petitioner herein submitted his bid on 15.07.2019 accompanied by the Earnest Money Deposit of Rs.44,25,000/ by way of Bank Guarantee issued by the Respondent No.3. It has been alleged that the bid of the petitioner was accepted by the respondent without demur or without any reservations. 5. Against the said Invitation to Bid, there were three bidders who submitted their bid and the petitioner was found as L1 bidder. Thereupon on 20.11.2019 the petitioner was Page No.# 4/27 issued the Letter of Acceptance of Contract. By the said Letter of Acceptance of Contract, the petitioner was asked to submit the Security Deposit (SD) of 10% of the va