ORDER :

1. Being aggrieved and dissatisfied with the impugned order dated 02.12.2014, passed by the respondent-RIICO, whereby the respondents have forfeited the earnest money deposited by the petitioner, the latter has preferred the instant writ petition under Article 226 of the Constitution of India, with the following prayer:-

“That by way an appropriate writ, order or direction, the impugned order dated 02.12.2014 may kindly be declared as illegal and be quashed and set aside. Consequently, the respondents may kindly be directed to release the amount of earnest money amounting to Rs. 6,60,000/-(Six lakh sixty thousand rupees) along with interest @ 18% per annum from the date of 03.09.2014.”

2. Learned counsel for the petitioner has submitted that on 15.08.2014, the respondent-RIICO issued an advertisement for the auction of commercial plots situated in various areas of Jaipur, including the plot in question located at Bassi (Extension) in Jaipur. By way of the said advertisement, closed/sealed bids were invited by the respondent-RIICO. The minimum reserved/proposed price for the aforementioned plot was fixed at Rs. 5,500/-per square meter. It is pertinent to note that as per the terms and conditions of the said advertisement, security/earnest money to the tune of Rs. 6,60,000/-was to be deposited by the bidders alongside their bid/application. Accordingly, as per the said terms and conditions, the petitioner duly participated in the auction proceedings and submitted his bid/application alongside a Demand Draft for the earnest money as required to be submitted. It was stated that the petitioner quoted the bid price at Rs. 6,101/- per square meter, whereas, the minimum reserve price was Rs. 5,500/-per square meters. After the auction proceedings were conducted and concluded on 03.09.2014, the petitioner remained the single and highest bidder.

3. At this juncture, learned counsel submitted that as per the terms and conditions of the auction, the respondent-RIICO, upon approval of the bid(s) so received, was to compulsorily send a communication to the successful highest bidder for the latter to deposit 25% amount of the total sale consideration, within 15 days from the date of intimation, with the respondent-RIICO. Otherwise, upon their failure to do so, the amount deposited earlier on account of the earnest money, would stand forfeited by the corporation without any notice to the said bidder. Accordingly, it was submitted that in the present case, the respondent-RIICO dispatched the letter of acceptance qua the petitioner’s bid dated 11.11.2014, only on 19.11.2014, thereby intimating the petitioner of his successful bid and its acceptance by the corporation along with a direction to the latter to deposit the 25% amount of sale consideration within a period of 15 days. However, it was submitted by the learned counsel for the petitioner, that much to the dismay of the petitioner, he received the said letter only on 22.11.2014 and as a result, even before the expiration of the 15 days provided for effectuating the payment of 25% of the total amount of sale consideration, the respondent-RIICO vide impugned order dated 02.12.2014, forfeited the earnest money deposited by the petitioner, totaling Rs. 6,60,000/-.

4. In this background, learned counsel for the petitioner argued that the letter dated 11.11.2014, by way of which the respondent-corporation informed the petitioner of their successful bid and thereby, raised a demand of Rs.31,47,024/-, was dispatched by the corporation only on 19.11.2014. Thereafter, the said letter was received by the petitioner on 22.11.2014. Therefore, in spite of the terms and conditions encapsulated under the advertisement dated 15.08.2014 whereby time of 15 days is granted (from the date of intimation) to the successful bidder to deposit 25% amount of the sale consideration, the earnest money so deposited was forfeited by the respondent-corporation prematurely, without actually providing the mandated p