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Sole auction participant can't be declared 'winning' bidder: High court

IndiaTimes Tuesday, 24 December 2024
The Karnataka HC stated that having just one bidder in an auction undermines the goal of obtaining the best competitive price. The court ordered a home finance firm to refund earnest money to a sole bidder who did not complete the deal, emphasizing that such a scenario is unjustifiable and logically impossible.
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