(1)

Except as is hereinafter otherwise provided, the General Manager shall, at least seven days before entering into any contract for the execution of any work or the supply of any materials or goods which will involve an expenditure exceeding [three lakhs rupees] [These words were substituted for the words 'fifty thousand rupees' by Maharashtra 17 of 2012, Section 7(1).], give notice by advertisement in the local newspapers inviting tenders for such contract:

[Provided that, the notice of any tender for contract not exceeding three lakhs rupees shall be uploaded on the official website of the Brihan Mumbai Electric Supply and Transport Undertaking.] [This proviso was added by Maharashtra 17 of 2012, Section 7(2).]

(2)

The General Manager shall not be bound to accept any tender which may be made in pursuance of such notice, but may accept, subject to the provisions of clause (c) of section 460K, any of the tenders so made which appears to him, upon a view of all the circumstances, to be the most advantageous:

Provided that the [Brihan Mumbai Electric Supply and Transport Committee] [These words were substituted for the words 'Member-in-Charge' by Maharashtra 27 of 1999, Section 171, (w.e.f, 23-4-1999).] may authorise the General Manager for reasons which shall be recorded in their proceedings to enter into a contract without inviting tenders as herein provided or without accepting any tender which he may receive after having invited them.