JUDGMENT

Sunil B. Shukre, J. - Heard. Rule. Rule made returnable forthwith. Heard finally by consent of the learned counsel appearing for the parties.

2. Respondent No.1 by tender notice No.18 had invited bids of eligible contractors for execution of the work of construction of 1/3000 Mt Cap. Pre Engineered Wh Bldg with Ancillary Works at Amgaon, District Gondia. Various bidders including the Petitioner had submitted their bids in response to the tender notice No.18 and upon due evaluation of the bids, submitted by the bidders, bid of the Petitioner was found to be lowest and it was decided to award the contract to the Petitioner. The petitioner was informed accordingly and was called upon to deposit Rs.70,91,948/- as a security performance amount before 05.03.2021, by letter dated 26.02.2021 issued to it by the Respondent No.1. The Petitioner was informed that upon it's failure to deposit the said amount within the time given, the work shall be awarded to second lowest bidder. The Petitioner was also requested to give it's explanation as well as rate analysis showing the ability of the Petitioner to perform the awarded work at the rate submitted by it, which was 24.28% below estimat