Supreme Court · 2023 INSC 248 · Decided 17 March 2023
Indian Railway Construction Company Limited v. M/S National Buildings Construction
- Court
- Supreme Court of India
- Citation
- 2023 INSC 248 · [2023] 2 S.C.R. 713
- Case number
- CIVIL APPEAL No. 8460/2022
- Decided
- 17 March 2023
- Bench
- M.R. SHAH, M.M. SUNDRESH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 34, 37
Headnote
Arbitration & Conciliation Act, 1996 - ss. 34, 37 - Appellant- IRCON and the respondent-NBCC entered into an agreement under which NBCC was awarded the work of construction of railway station cum commercial complex - NBCC failed to carry the time stipulated and the work was practically abandoned - IRCON served notice upon the NBCC for termination of the contract relying upon clause 60.1 of the agreement - NBCC invoked the arbitration clause - Arbitral Tribunal rejected the NBCC's claim for refund of two
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