SC upholds HUDA's rejection of highest bid for Ggn tower

In a major verdict, the Supreme Court on Friday upheld the decision of the Haryana Urban Development Authority to reject the highest bid of Rs 111.75 crore of a firm for a commercial tower on over 9 acres of land, saying the "huge property was saved from being plundered".

The SC also imposed a fine of Rs 5 lakh on Orchid Infrastructure Developers P Ltd, the highest bidder, after taking note that it had not filed the court fees before the trial court and in the high court while filing suit and appeals. "We are of the considered opinion that there was no right acquired and no vested right accrued in favour of the plaintiff merely because its bid amount was highest and had deposited 10 per cent of bid amount," a Bench of justices said.