We’re evaluating bids for an international project and asked a participant to disclose any ongoing legal disputes. The requirement was that the total amount at stake in these disputes shouldn’t exceed 40% of their company’s net worth. They didn’t provide the specific details but instead submitted a general statement saying they meet the criteria. Should we accept this or disqualify them outright?

Apni Law
Apni Law
Law Forum › Category: Civil › We’re evaluating bids for an international project and asked a participant to disclose any ongoing legal disputes. The requirement was that the total amount at stake in these disputes shouldn’t exceed 40% of their company’s net worth. They didn’t provide the specific details but instead submitted a general statement saying they meet the criteria. Should we accept this or disqualify them outright?
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Apni Law Staff asked 1 year ago

We’re evaluating bids for an international project and asked a participant to disclose any ongoing legal disputes. The requirement was that the total amount at stake in these disputes shouldn’t exceed 40% of their company’s net worth. They didn’t provide the specific details but instead submitted a general statement saying they meet the criteria. Should we accept this or disqualify them outright?

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Best Answer

Apni Law Staff answered 1 year ago

You should disqualify the participant. Indian law mandates complete transparency in such situations. A general statement is insufficient; you need specific details on the disputes, their financial impact, and how it aligns with the 40% threshold.

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