https://www.taxtmi.com/caselaws?id=197536 Interference with an arbitral award was confined to the narrow grounds under the Arbitration Act, 1940, and the award of the contractor's balance price was upheld because the contract had been substantially performed and the pumps were accepted and used, subject only to deduction of an unadjusted advance. The purchaser's claims for risk-and-purchase costs and spares were rejected because the substituted procurement was not shown to match the original contractual specification and the contractor had remained willing to supply spares against payment. Liquidated damages were allowed for contractual delay under the Contract Act, with the prior time-bar treatment held inconsistent; interest was reduced to 9% simple and costs were directed on an actual-basis approach. en-us Wed, 21 Oct 2009 00:00:00 +0530 Tue, 09 Jan 2018 15:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197536 Interference with an arbitral award was confined to the narrow grounds under the Arbitration Act, 1940, and the award of the contractor's balance price was upheld because the contract had been substantially performed and the pumps were accepted and used, subject only to deduction of an unadjusted advance. The purchaser's claims for risk-and-purchase costs and spares were rejected because the substituted procurement was not shown to match the original contractual specification and the contractor had remained willing to supply spares against payment. Liquidated damages were allowed for contractual delay under the Contract Act, with the prior time-bar treatment held inconsistent; interest was reduced to 9% simple and costs were directed on an actual-basis approach. Case-Laws Indian Laws Wed, 21 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197536