98. Bribery for procuring withdrawal of tenders

A person –

who, with intent to obtain from the Government a contract for performing any work, providing any service, doing anything, or supplying any article, material or substance, offers any gratification to any person who has made a tender for such contract, as an inducement or a reward for his withdrawing such tender; or

who solicits or accepts any gratification as an inducement or a reward for his withdrawing a tender made by him for such contract as is specified in paragraph (a), commits an offence of bribery under this Act and on conviction be liable to a fine not exceeding one million rupees and to a term of rigorous imprisonment not exceeding seven years.