https://www.taxtmi.com/caselaws?id=289190 The court ruled in favor of Messors Sandvik Asia Limited, setting aside the trial court's decision and dismissing the suit brought by Industrial Oxygen for non-payment of rental charges. The court determined that the stipulated rate in the contract for cylinder detention constituted liquidated damages, providing certainty in damage assessment. The court also found that the calculation of damages at Rs. 5 per day lacked sufficient evidence, suggesting that the rate of Rs. 1.25 per week aligned with the contract terms. Each party was ordered to bear their own costs. en-us Thu, 15 Mar 1984 00:00:00 +0530 Sat, 18 Jul 2020 16:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289190 The court ruled in favor of Messors Sandvik Asia Limited, setting aside the trial court's decision and dismissing the suit brought by Industrial Oxygen for non-payment of rental charges. The court determined that the stipulated rate in the contract for cylinder detention constituted liquidated damages, providing certainty in damage assessment. The court also found that the calculation of damages at Rs. 5 per day lacked sufficient evidence, suggesting that the rate of Rs. 1.25 per week aligned with the contract terms. Each party was ordered to bear their own costs. Case-Laws Indian Laws Thu, 15 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289190