Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The court dismissed the appeal against the arbitrator's decision not to levy liquidated damages due to the failure to plead and demonstrate legal injury. The court held that liquidated damages are no different from unliquidated damages, and in both cases, the aggrieved party must demonstrate legal injury. Liquidated damages represent the maximum amount payable, but u/s 74 of the Contract Act, reasonable compensation must be paid. Since there were no pleadings regarding the imposition of liquidated damages, no leave could be granted at the second stage of scrutiny. The appeal was dismissed, and costs were quantified at Rs. 20,000/-.
The court dismissed the appeal against the arbitrator's decision not to levy liquidated damages due to the failure to plead and demonstrate legal injury. The court held that liquidated damages are no different from unliquidated damages, and in both cases, the aggrieved party must demonstrate legal injury. Liquidated damages represent the maximum amount payable, but u/s 74 of the Contract Act, reasonable compensation must be paid. Since there were no pleadings regarding the imposition of liquidated damages, no leave could be granted at the second stage of scrutiny. The appeal was dismissed, and costs were quantified at Rs. 20,000/-.
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