Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
SC affirmed the arbitral award, holding that the Development Agreement remained binding after the Supplementary Agreement failed to meet its conditions precedent. The court found L&T committed fundamental breaches by abandoning the project, failing to pay External Development Charges, and not fulfilling contractual obligations. The termination by PCL was justified. The court emphasized its limited powers under Sections 34 and 37 of the Arbitration Act, confirming it cannot modify arbitral awards but only set aside or remand under specific circumstances. The appeal was dismissed, upholding the original arbitral tribunal's findings of coercion and breach of contract by L&T.
SC affirmed the arbitral award, holding that the Development Agreement remained binding after the Supplementary Agreement failed to meet its conditions precedent. The court found L&T committed fundamental breaches by abandoning the project, failing to pay External Development Charges, and not fulfilling contractual obligations. The termination by PCL was justified. The court emphasized its limited powers under Sections 34 and 37 of the Arbitration Act, confirming it cannot modify arbitral awards but only set aside or remand under specific circumstances. The appeal was dismissed, upholding the original arbitral tribunal's findings of coercion and breach of contract by L&T.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
