https://www.taxtmi.com/caselaws?id=407744 Under the Arbitration Act, 1940, an arbitral award will not be interfered with merely because another contractual construction is possible; it must be shown to be perverse, legally erroneous, or tainted by misconduct. Applying that standard, the tribunal's view that the 16% rebate was conditional on simultaneous execution of both contracts was upheld because the tender documents and work programme supported that interpretation, and delay in handing over the sites frustrated the condition. The tribunal's award of escalation for work beyond the scheduled period was also sustained because the firm price clause was treated as limited to the contractual period, and the court declined to substitute a different plausible view. en-us Thu, 04 Mar 2021 00:00:00 +0530 Wed, 19 May 2021 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407744 Under the Arbitration Act, 1940, an arbitral award will not be interfered with merely because another contractual construction is possible; it must be shown to be perverse, legally erroneous, or tainted by misconduct. Applying that standard, the tribunal's view that the 16% rebate was conditional on simultaneous execution of both contracts was upheld because the tender documents and work programme supported that interpretation, and delay in handing over the sites frustrated the condition. The tribunal's award of escalation for work beyond the scheduled period was also sustained because the firm price clause was treated as limited to the contractual period, and the court declined to substitute a different plausible view. Case-Laws Indian Laws Thu, 04 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407744