Supreme Court of India
Indian Railway Construction Company Limited v. M/s National Buildings Construction
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.
What the Court ordered
In view of the above and for the reasons stated above, present appeal succeeds.
Judgment, page 15
From the 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 carr y out the work within the time stipulated and the work was pr actically 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 security deposits i.e. claim nos.33 and 34 – Tribunal held
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