A three-judge Bench of the Supreme Court comprising Chief Justice of India Surya Kant, Justice Ujjal Bhuyan, and Justice Nongmeikapam Kotiswar Singh has held that a Letter of Intent (LoI) is merely a “precursor to a contract” and a “promise in embryo” which does not create any binding or enforceable rights until the stipulations and
Letter of Intent is “Promise in Embryo”, Creates No Binding Rights; SC Upholds Cancellation for Non-Compliance in HP Tender Case
