https://www.taxtmi.com/caselaws?id=173943 The Supreme Court upheld the termination of the contract by the National Highway Authority of India (NHAI), citing evidence of breach by the appellant. The court affirmed compliance with natural justice principles, rejecting claims of unfair treatment. While agreeing with the forfeiture of performance security, the court quashed the invocation of the bank guarantee due to excessive recovery by NHAI. Referring to Section 74 of the Contract Act, the court held the forfeiture and penalty as permissible under the contract terms. The appeal was dismissed, affirming the High Court's decision on all aspects except for the bank guarantee invocation. en-us Thu, 21 Feb 2013 00:00:00 +0530 Mon, 26 Oct 2015 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173943 The Supreme Court upheld the termination of the contract by the National Highway Authority of India (NHAI), citing evidence of breach by the appellant. The court affirmed compliance with natural justice principles, rejecting claims of unfair treatment. While agreeing with the forfeiture of performance security, the court quashed the invocation of the bank guarantee due to excessive recovery by NHAI. Referring to Section 74 of the Contract Act, the court held the forfeiture and penalty as permissible under the contract terms. The appeal was dismissed, affirming the High Court's decision on all aspects except for the bank guarantee invocation. Case-Laws Indian Laws Thu, 21 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173943