https://www.taxtmi.com/caselaws?id=168583 The court held that the defendant (BSFIC) was entitled to call for the full amount of the performance bond even if the plaintiff's breach caused no loss. However, BSFIC was only entitled to retain an amount equal to the actual loss suffered. The court clarified that the terms "forfeit" and "forfeited" in the contract did not mean the bond monies were irrevocably lost to BSFIC. The judge awarded costs, with BSFIC ordered to pay three-quarters of the plaintiff's costs for the preliminary issues. The appeal was dismissed, and the decision was upheld, with BSFIC being granted leave to appeal. en-us Wed, 19 Nov 1997 00:00:00 +0530 Fri, 13 Mar 2015 16:07:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168583 The court held that the defendant (BSFIC) was entitled to call for the full amount of the performance bond even if the plaintiff's breach caused no loss. However, BSFIC was only entitled to retain an amount equal to the actual loss suffered. The court clarified that the terms "forfeit" and "forfeited" in the contract did not mean the bond monies were irrevocably lost to BSFIC. The judge awarded costs, with BSFIC ordered to pay three-quarters of the plaintiff's costs for the preliminary issues. The appeal was dismissed, and the decision was upheld, with BSFIC being granted leave to appeal. Case-Laws Indian Laws Wed, 19 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168583