Letter Of Intent A 'Promise In Embryo'; Doesn't Create Vested Rights Until Preconditions Are Met : Supreme Court

Holding that a Letter of Interest (LoI) does not confer any enforceable or vested rights until all stipulated pre-conditions are fulfilled, the Supreme Court upheld the Himachal Pradesh government's decision to cancel an LoI issued to a private company for the supply of electronic Point-of-Sale (ePoS) devices for its Public Distribution System (PDS). “an LoI (Letter of Interest) creates...