PETROSIN CORPORATION (PVT.) LTD. & others V e r s u s OIL & GAS DEVELOPMENT COMPANY LTD. ISLAMABAD through its Managing Director
Judge Name: Faqir Muhammad Khokhar, M. Javed Buttar & Muhammad Qaim Jan Khan Judgment Result: Appeals dismissed Other Law Journal References: 2010 SCMR 306 —-Art. 185(3)–leave to appeal–technical and commercial bids were submitted–oil and Gas development company in order to develop Tando Allahyar natural Gas development project–appellants participate in tender for design, engineering, procurement, construction, installation/erection, precommissioning start-up and commissioning of project–appellants submitted performance bond in the sum equivalent to 10% of contract price by way of a bank guarantee–performance guarantee and bid bond were returned–question of validity of withdrawal and tenders to re-advertise–held: general letter of intent merely implies an intention to enter into a contract in anticipation of signing of the contract with a right to contractor with authority to the contractor to start the work before completion of the contract for compensation of the work, if any, he already done–letter of intent could be treated to be synonymous to a complete contract–the instant ones are not the cases in which bid of any other bidder had been accepted.
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