Contractual Clauses, Termination and Its Effect : Law Explained by HC
It has been held in Pipavav Energy Pvt Ltd v. Madhavi Procon Pvt Ltd [2018] GCtR 5950 (Delhi) at page no. 19 that "once the contract did not require any reason to be stated for terminating the contract and empowered the petitioner to terminate the contract “for any reason”, the Court/Arbitrator must give effect to the plain meaning of the words, even if it may dislike the result."
The case was related to Power sector [Thermal Power Project] and the arbitral award was set aside to an extent under S.34 of A&C Act, 1996.
No comments:
Post a Comment