Highest Bid Cannot Be Cancelled Just to Seek Higher Price

Golden Food Products India Vs State of Uttar Pradesh & Others (Supreme Court of India) Highest Valid Bid Cannot Be Cancelled Arbitrarily: Expectation of Higher Price Is No Ground to Scrap a Lawful Auction The Supreme Court held that cancellation of a concluded public auction solely on the expectation of obtaining a higher price in a future auction is arbitrary, irrational, and violative of Article 14. Where an auction is conducted in accordance with law, the highest bid is above the reserve price, and there is no allegation of fraud, collusion, or procedural irregularity, the auctioning au...