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Sole auction participant can't be declared 'winning' bidder: High court
Credit: IndiaTimes- Published on December 24, 2024
The Karnataka HC stated that having just one bidder in an auction undermines the goal of obtaining the best competitive price. The court ordered a home finance firm to refund earnest money to a sole bidder who did not complete the deal, emphasizing that such a scenario is unjustifiable and logically impossible.
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Karnataka High Court
High Court for Indian state of Karnataka
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