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 »