( 1 ) THE facts leading to the filing of the present writ petition are:the Delhi Development Authority (for short "dda") put up anadvertisement on 7/06/1989 in the newspapers announcing the auctionof a plot for 2/3 star hotel at Pitam Pura, New Delhi. The plot was to be. auctioned as per certain terms and conditions. There is no dispute betweenthe parties about the terms and conditions of the auction including the factthat the auction was on the basis of perpetual leasehold rights and theprovisions of the Delhi Development Authority (Disposal of Developednazul Lands) Rules, 1981 would be applicable. The material terms of auctionfor purposes of the present petition are :

" (IV) The officer conducting the auction shall normally accept thebids subject to confirmation by the Competent Authority. Thei highest bid offered at the fall of hammer at the auction and theperson whose bid has been accepted shall pay earnest money,a sum equivalent to 25% of his bid either in cash or by bank draftin favour of the DDA. The amount of earnest money is to bedeposited in Central Bank of India, Vikas Sadan, INA Colony,new Delhi. If the earnest money is not paid, the auction alreadyheld in