Arbitration and Conciliation Act, 1996 with Section 31(7)(a)

Supreme Court Upholds Forfeiture of Security Deposit and Modifies Interest Rate in Construction Contract Dispute: Indian Railway Construction Company Limited vs. M/s National Buildings Construction Corporation Limited (2023) INSC 248 (17 March 2023)

/ Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 31(7)(a), Breach of contract, Contract Law, Contract Law with Clause 17.4, Contract Law with Clause 60.1, Judges, M. R. Shah, M.M. Sundresh

Supreme Court Upholds Forfeiture of Security Deposit and Modifies Interest Rate in Construction Contract Dispute Date of the Judgment: 17 March 2023 Citation: (2023) INSC 248 Judges: M. R. Shah, J. and M.M. Sundresh, J. Can a contractor’s security deposit be forfeited if they fail to complete work, even if the termination notice cites an […]

Supreme Court Upholds Forfeiture of Security Deposit and Modifies Interest Rate in Construction Contract Dispute: Indian Railway Construction Company Limited vs. M/s National Buildings Construction Corporation Limited (2023) INSC 248 (17 March 2023) Read Post »

Supreme Court Upholds Interest on Delayed Payments in Construction Contract: M/s. Oriental Structural Engineers Pvt. Ltd. vs. State of Kerala (22 April 2021)

/ Aniruddha Bose, Arbitration and Conciliation Act, 1996 with Section 31(7)(a), Arbitration and Conciliation Act, 1996 with Section 34, Arbitration Law, Contract Law, Interest on Delayed Payments, Interpretation of Contracts, Judges, Surya Kant

Supreme Court Upholds Interest on Delayed Payments in Construction Contract: M/s. Oriental Structural Engineers Pvt. Ltd. vs. State of Kerala (2021) LEGAL ISSUE: Whether a contractor is entitled to interest on delayed payments for work done under a construction contract, specifically concerning the local currency component, when the contract specifies interest but leaves the interest

Supreme Court Upholds Interest on Delayed Payments in Construction Contract: M/s. Oriental Structural Engineers Pvt. Ltd. vs. State of Kerala (22 April 2021) Read Post »

Supreme Court clarifies interest on delayed payments in arbitration: Chittaranjan Maity vs. Union of India (2017)

/ Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 11(6), Arbitration and Conciliation Act, 1996 with Section 31(7)(a), Breach of contract, Contract Law, General Conditions of Contract, J. Chelameswar, Judges, S. Abdul Nazeer

Date of the Judgment: October 3, 2017 Citation: (2017) INSC 849 Judges: J. Chelameswar, S. Abdul Nazeer Can an arbitrator award interest on delayed payments when the contract explicitly prohibits it? The Supreme Court of India addressed this crucial question in a case concerning a railway construction contract. The court clarified the extent of an

Supreme Court clarifies interest on delayed payments in arbitration: Chittaranjan Maity vs. Union of India (2017) Read Post »

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