Supreme Court of India
M/s Rickmers Verwaltung Gmb H v. The Indian Oil Corporation Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that no concluded bargain had been reached between the parties as the terms of the standby letter of credit and performance guarantee were not accepted by the respective parties.
Judgment, page 12
From the headnote
Arbitration Act, 1940 : Section 33 Arbitration-Charter party agreement for shipping of pipes between appellant ad respondent-Agreement not signed by parties-Conditions for agreement-Execution of letter of credit and performance guarantee Contents of these two documents to be mutually agreed between the parties No agreement between parties as to contents of documents-Consequently cargo arrangements not made by appellant-Alternative arrangements by respondent-Invocation of arbitration clause contained in the agreement by ap;,ellant-Claim that though no formal agreement was signed by parties
Where later benches applied it
- 2023 Cox and Kings Ltd. v. Sap India Pvt. Ltd. & Anr.
- 2011 Powertech World Wide Limited v. Delvin International General Trading Llc
- 2006 Dresser Rand S.A. v. M/s. Bindal Agro Chem Ltd. and Anr.
Of those, 3 mentioned
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