Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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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