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NCRDC directed Developer to refund entire amount for failure to complete project alongwith 9% interest p.a.
In the present matter, the Complainant had booked an independent floor in the Developer’s housing project in 2011 and was assured possession delivery within 36 months and an extended grace period of 6 months. This time period ended in November 2015. Therefore, the...
Delhi HC: Non-consideration of a contract clause cannot be said to be opposed to the fundamental policy of Indian law
The Delhi High Court has held that non-consideration of a clause of a contract cannot be said to be an error made by the Arbitral Tribunal which is opposed to the fundamental policy of Indian law. The Bench noted that the concession agreement was neither a statute,...
Calcutta HC: An optional remedy to arbitration cannot be held to be a valid arbitration agreement
The Calcutta HC has held that a clause in an agreement that merely provides the option to go for arbitration is not a valid arbitration agreement as the clause makes arbitration a mere possibility, which may unravel at any time. Clause 7 of the agreement provided that...