Supreme Court · 2003 INSC 241 · Decided 17 April 2003
Oil & Natural Gas Corporation LTD. v. Saw Pipes LTD.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 241 · [2003] 3 S.C.R. 691
- Case number
- CIVIL APPEAL No. 7419/2001
- Decided
- 17 April 2003
- Bench
- M.B. SHAH, ARUN KUMAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 73, 74; Arbitration Act Section 23, 24, 25, 28, 31, 34, 28to31
Headnote
Arbitration and Conciliation Act, 1966; Sections 23, 24, 25, 28, 31 and 34: Contract for supply of goods-Time is the essence of the contract-Delay A B in supply of goods-Contractor's liability to purchaser-Award-Denial of C compensation-Held: when liability to pay compensation in lieu of damages and in the absence of evidence proving the compensation claimed as unreasonable, arbitral tribunal could not ignore clear terms of the agreement to determine liability of the defaulting party-It is not necessary for the claimant to produce evidence proving damages/loss suffered by him- D
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