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Companies Law - Highlights / Catch Notes

Home Highlights May 2024 Year 2024 This

Disqualification from participating in the tender - The High ...

Case Laws     Companies Law

May 7, 2024

Disqualification from participating in the tender - The High Court held that in the absence of a specific clause in the tender document mandating such compliance, the disqualification was incorrect. The Supreme Court disagreed with the High Court's reasoning, citing the importance of explanatory notes as integral parts of the Balance Sheet according to Section 134(7) of the Companies Act.

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