Wrong bid amount costs liquor vend contractor dear

A mistake has cost a contractor dear during the auction of the last liquor vend today. The UT Excise and Taxation Department had invited bids for the only one left in Sector 20. When the bids were opened, officials were in a state of shock as the vend received the highest bid of ‘Rs 55.50 crore’ against the reserve price of Rs 4.50 crore.

However, sources said that the bidder was quoting an amount of Rs 5.55 crore, but accidently filled the amount as Rs 55.50 crore. Officials said if the contractor withdrew the bid, then the earnest money of Rs 25 lakh would be forfeited. In the previous auction, the department had managed to auction 96 of the 97 liquor vends for 2025-26 financial year.