27. Tenders. - (1) At least seven days before the Chairman enters into any contract for the execution of any work or the supply of any materials or goods which will involve an expenditure exceeding [fifty thousand rupees] he shall give notice by advertisement in local newspapers inviting tenders for such contract:
[Provided that the Board may, at the instance of the Chairman and with the sanction of the State Government, for season which shall be recorded in the proceedings, authorize the Chairman to enter into a contract without inviting tenders].(2)In every such case the Chairman shall place before the Board the specifications, conditions an estimates and all the tenders received, specifying the particular tender (if any) which he proposes to accept.(3)In every case in which the acceptance of a tender would involve an expenditure exceeding [twenty-five lakhs of rupees],the Board shall submit to the [State Government] the specifications, conditions and estimates, and all the tenders received, specifying the particular tender (if any) the acceptance of which they propose to sanction.(4)Neither the Board nor the [State Government] shall be bound to sanction the acceptance of any tender which has been made; but the Board, within the pecuniary limits of their powers, as prescribed in section 25, sub-section (1), or the [State Government], may sanction the acceptance of any of such tender which appears to them, upon a view of all the circumstances, to be the most advantageous, or may direct the rejection of all the tenders submitted to them.
