Section 37(4) in The Rajasthan Minor Mineral Concession Rules, 1986
(4)Where the bidder/tenderer fails to comply with the provisions of sub-rule (2) or fails to execute the agreement within the prescribed time limit, the order of sanction shall be revoked and the amount deposited as security under rule 33B shall be forfeited and fresh auction shall be conducted or tenders shall be invited as the case may be.Provided that in case all requisite formalities have been completed by the bidder/tenderer within fifteen days from the date of sanction and agreement could not be executed with no fault of bidder/tenderer in such case, Director may extend the period of execution with reasons to be recorded in writing.Provided further that before revocation of sanction if the contractor after completing the formalities as per sub rule (2) applies in writing for execution of contract enclosing a Demand Draft/Bankers Cheque amounting 9% of yearly bid/tender amount for delay of every one month or part thereof as penalty, the period of execution can be extended by the Director. The delay shall be calculated after 15 days of sanction.
