1. The petitioner questions the legality and validity of the order dated 21-8-2001 (Annexure P/6) whereunder the tender submitted by the petitioner on joint venture with M/s. Pilcon Engineering, was cancelled and the earnest money deposited against the tender offer, was forfeited by the competent authority.

2. The facts, in brief, are that pursuant to the advertisement for construction of Pile Foundations on Hasdeo river, the petitioner, on a joint venture along with M/s. Pilcon Engineering offered his tender for pile foundation, pier and two PSC span of bridge No. 43 on Hasdeo river in connection with construction of 3rd line between Akaltara and Champa Railway Station on S.E. Railway. The tender offered by the petitioner was accepted on 20-5-2001. As per the undertaking (Annexure R/1, page 44 of paper book), wherein it was clearly stated that I/We also agree to keep this Tender open for acceptance for a period of 90 (Ninety) days from the date fixed for opening the same and in default thereof, I/We will be liable for forfeiture of my/our security deposit. It was further accepted by the petitioner that A sum of Rs. 50,000/- is hereby forwarded as for earnest money. The full v