S.V. Gangapurwala, J.

1. The present petition stems up against the action of respondent Nos. 2 to 4 forfeiting earnest money deposit of Rs. 8,00,000/- of the petitioner.

2. The respondent No. 2/corporation floated tenders inviting the offers for the purpose of collecting toll. The petitioner firm submitted its offer. As per the terms of the tender the offerers were required to deposit Rs. 8,00,000/- in the form of demand draft as earnest money deposit. The petitioner submitted offer of Rs. 1,99,71,577/- for collection of toll at Rotegaon on Shiur-Shrirampur road for a period of 90 weeks. The offer of the petitioner firm was highest. Vide letter dated 20th March, 2002, the respondents communicated acceptance of the offer of the petitioner for a period of 52 weeks. Vide letter dated 04.04.2002, the respondents intimated the petitioner firm that as the petitioner failed to pay performance security and security deposit within the stipulated time, the earnest money deposit of Rs. 8,00,000/-stood forfeited to the M. S. R. D. C. Ltd. Mumbai. After exchange of legal notice and reply, the present petition is filed.

3. Mr. Suryawanshi, the learned counsel during the course of his