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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: delhi Year: 2015 Page 1 of about 400 results (0.043 seconds)

Jan 20 2015 (HC)

Iffco-Tokio General Insurance Co Ltd Vs. Indo-Rama Synthetics Ltd

Court : Delhi

Decided on : Jan-20-2015

..... consequential loss and/or in the alternative the said reasons are not in consonance with the fundamental policy of law of insurance which is that the insurance contract is always a contract of indemnity and the insured cannot benefit out of the payments made towards the indemnification. i find that merely because the value of sum to be recompensed to the ..... relies on the tariff advisory committee s (tac) general regulation 1 on consequential loss (fire) insurance section 1 which reads as under: policy to constitute contract of indemnity: every policy shall constitute a contract of indemnity only. the tariff advisory committee was formed under section 64u of the insurance act, 1938 to prescribe the terms/conditions/premium rates and wordings of insurance ..... 22 & 23. c) mr. kaul argued that the impugned award passed by the arbitral tribunal is also against the fundamental policy of law which is that the contract of insurance is contract of indemnity. the impugned award though states that the intent of the policy is to indemnify the respondent for the losses suffered it but proceeds to adopt an approach which ..... basis. further, the learned arbitral tribunal also rejects the submissions of the petitioner herein/ respondent therein in paragraph 69.5 that the business interruption insurance/ flop policy is a contract of indemnity by observing that it is not acceptable in law . likewise on the facts of the case, the claimant s surveyor/ mr. r. srivatsan/cw3 during his cross examination .....

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Apr 13 2015 (HC)

Prestige Foods Ltd. Vs. The Stc of India

Court : Delhi

Decided on : Apr-13-2015

..... to cover losses in the form of bank charges on account of delayed receipt of payment from the foreign banks. what the indemnity clause covers is losses on account of any default on the ..... specific clause in the contracts relating to this subject. he placed reliance upon the indemnity clause as well as the general scheme of the contract. the contracts are the main documents which contain the right and liabilities of the parties. in the absence of any provision in the contract, indemnity clause cannot be stretched ..... transferred to the suppliers, all bank charges would have been incurred by them directly. it has also been stated that as per the export contracts, all the bank charges outside algeria were to be borne by the supplier and accordingly the amount pertaining to the claimant was deducted/recovered ..... to the mpec and the supplier the performance of all obligations, responsibilities and liabilities of the stc under or by virtue of the export contract and the mpec and the supplier have agreed to accept and fulfil the said obligations/responsibilities and liabilities so far as the export of soyabean ..... part of mpec and/or the supplier in the discharge of their obligations under the contract. the above amount was unjustly deduced by the stc. 18. .....

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Dec 11 2015 (HC)

Worldfa Exports Pvt. Ltd. Vs. United India Insurance Co. Ltd.

Court : Delhi

Decided on : Dec-11-2015

..... , delay and lack of transparency in sharing the documents and information by the insurance company and persons appointed by insurance company, we have been denied an actual amount of indemnity under the contract of insurance under this policy, since we claimed an amount of rs.126951063.00 and substantiated the same whereas we have been given rs.56232959.00 only. we hereby ..... , compulsion and coercion. relevant portion of para 52 is reproduced hereunder:- 52. some illustrations (not exhaustive) as to when claims are arbitrable and when they are not, when discharge of contract by accord and satisfaction are disputed, to round up the discussion on this subject are: xxx xxx xxx (iv) an insured makes a claim for loss suffered. the claim is ..... are as under: 9. claim procedure in respect of a general insurance policy (1) an insured or the claimant shall give notice to the insurer of any loss arising under contract of insurance at the earliest or within such extended time as may be allowed by the insurer. on receipt of such a communication, a general insurer shall respond immediately and ..... full and final settlement before release of admitted claim amounts to coercion and undue influence as defined in sections 15 and 16 of the contract act and such contracts are voidable under section 19 and 19a of the contract act. 7.2. the withholding of the admitted amount by the insurance companies unless complete discharge is given, amounts to deficiency in service within .....

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May 08 2015 (HC)

M/S. Devika Builders Pvt. Ltd. Vs. National Cooperative Consumers and ...

Court : Delhi

Decided on : May-08-2015

..... petitioner, when in fact, the same was entirely inconsequential. further misinterpreting the clause 15 of the agreement and ignoring the specific terms of clause 15 the indemnity bond and section 73 of the indian contract act, whereby the petitioner is entitled to claim damages on the investments made by the petitioner and the benefits and profits therefrom blocked by the acts, omission ..... and acts and omissions and fundamental breaches by the respondent and need to be compensated in terms of clause 15 of the agreement read with section 73 of the indian contract act. he would state that both the parties had claimed interest at 16.5% compounded quarterly in their respective claim statements. he states, the learned arbitrator also ignored that on ..... agreement must operate within the four corners of the agreement; he cannot award any amount which is ruled out; the damages could only be claimed u/s 73 of the contract act for which burden of proof was on the petitioner to show that it had actually suffered damages or loss. she would also state, the agreement between the parties provided ..... the claim itself, the said amount was a nonrefundable deposit made to the respondent. there is no stipulation in the contract that the petitioner would be entitled to the interest on the said amount. on a specific query, no stipulation under contract was brought to my notice. the learned arbitrator in the award has concluded as under: i find that there is .....

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Apr 30 2015 (HC)

Puri Construction P. Ltd. and Ors. Vs. Larsen and Toubro Ltd. and Anr ...

Court : Delhi

Decided on : Apr-30-2015

..... be relieved of its obligations under the agreement of 10 january, 2000 and the respondent is bound to pay lkb. the respondent is also bound by the agreement of indemnity as reflected in the agreement dated 10th fao (os) 21/2009 and connected cases page 69 march, 1998. this tribunal finds that the respondent sought to jeopardize the claimants ..... view of the supplementary agreement, correspondence which had ensued between the parties prior to its execution was irrelevant and that the said supplementary agreement had in fact novated the contract between the parties embodied in the development agreement. however, that argument was not pursued and l&t conceded later in the arbitration proceedings that the supplementary agreement had ..... tribunal s findings regarding the conditions precedent, for the applicability of the supplementary agreement, i.e clauses ii and iii were unwarranted and militated against a plain reading of the contract. instead, clause i stipulated the preconditions. the said condition reads as follows: clause i: that the terms of development agreement will continue to bind the parties hereto, ..... of the impugned judgment (paras 34-36 and44) show that the learned single judge sat in appeal and re-appreciated the documentary evidence on record. : the conditions under which the contract signed are to be inferred from the facts and circumstances of the time when agreement was signed . **************** ************ .section (sic clause) 34 of the development agreement dated 10. .....

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Dec 23 2015 (HC)

MMTC Ltd. and Another Belcom JV and Another

Court : Delhi

Decided on : Dec-23-2015

..... tonnes of muriate of potash (mop) at a price of rs. 2,766.50 per metric ton. this was an f.o.b. contract.. the said contract contained a payment clause by which mmtc was to open a letter of credit with the bank for foreign trade of ussr, minsk bank of ..... reasoning is in fundamental and patent error of law. granted, tribunals have sufficient autonomy to err within their jurisdiction, both with respect to interpretation of contracts as well as interpretation of law. however, when the error is based on a patent and fundamental understanding of the law, and is manifestly illegal, ..... in fact, petitioner-objector's letter dated 12th september, 1996 constitutes an acknowledgement to the effect that consideration of rs. 3.71 crores under contract no.35 had not been received by the respondent-claimant. it seems to me that the issue of limitation was really not pressed by the petitioner ..... said amount. by the said letter, petitioner-objector sought to recall its remittance. on 17.10.1997, belcom invoked the arbitration clause incorporated in the contract. both mmtc and the belcom appointed one arbitrator each, while the supreme court by its order dated 19th november, 1998 appointed justice ranganath misra, ..... , or from whom, or on whose behalf, the indemnity was obtained. ? 34. the obc had little choice but to honour the demand by the bank for foreign trade of the ussr, minsk (i.e the negotiating russian bank, nominated under the contract by belcom) because the payment had fallen due after the .....

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Mar 26 2015 (HC)

Canara Bank Vs. Bharat Sanchar Nigam Ltd. and Anr

Court : Delhi

Decided on : Mar-26-2015

..... the financial arrangement was not dealt with by the mla. it was independently entered into between the canara bank and resl by way of an indemnity agreement dated 27th february 1998 and the hypothecation agreement dated 4th march 1998.29. mr. chandan kumar submitted that even in the additional affidavit ..... determine the specific issue as to the compensation and consequential interest and costs which canara bank is entitled to on account of the breach of contract by bsnl. the learned arbitrator will determine the said issue question on the basis of the existing material. the learned arbitrator will call upon ..... opportunities no material was placed on record either by canara bank or resl to show that they were ready to perform their obligations under the contract but for the breach by bsnl they in fact had been in opposition to install the balance 8070 spgs. bsnl had specifically denied the ..... make the non-defaulting party liable to suit; it only indicates that the damages actually suffered are greater than the law will compensate. therefore in contract actions, the doctrine of avoidable consequences is only a statement about how damages will be measured . he also placed reliance in dwarka das v. ..... ( qlr?), the date of commencement of qlr and other charges payable by bsnl to canara bank. it is stated that the obligation under the contract for installation of the remaining 8070 spgs could not be completed on account of the breach committed by bsnl by not giving the destination details. .....

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Feb 24 2015 (HC)

Tractel Tirfor India Pvt. Ltd. Vs. Nehru Place Hotels Ltd. and Anr.

Court : Delhi

Decided on : Feb-24-2015

..... register was produced by the petitioner. there was no explanation furnished by the petitioner for its failure to do so. instead, the petitioner produced indemnity bonds dated 27th january 2006 furnished by the dependants of the deceased workmen before the wcc and an affidavit dated 23rd january 2006 of one ..... unreliable. the learned arbitrator rightly concluded that till such time the system had not been handed back to respondent no.1 after completion of the contract, the liability of the petitioner thereunder continued. the accident had occurred at a time when the system was under the control of the petitioner. ..... the two deceased workmen, while operating the cleaning equipment, fell from a great height and died. clearly, at that point of time, the contract of cleaning which had been awarded by respondent no.1 to the petitioner was still in operation.20. both the petitioner and the respondent no.1 ..... not taken adequate care to prevent foreseeable consequences. therefore, respondent no.1 could not take advantage of the accident and claim refund of the contract amount for which the petitioner had worked. likewise, since the petitioner did not dispute that it had not completed the work it could not ..... to an award dated 1st november 2013 passed by the sole arbitrator in the disputes between the petitioner and the respondent no.1.2. a contract dated 30th june 2004 was entered into between respondent no.1 and the petitioner whereunder the petitioner was to supply and instal a window cleaning .....

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Jul 15 2015 (HC)

M/S Visa Agro Industries Pvt Ltd (Presently Visa R Vs. Sh. Mam Chand ...

Court : Delhi

Decided on : Jul-15-2015

..... by the revenue court and only a civil court is competent to decide the same.15. the contention of learned counsel for visa agro that the sale deeds are one contract and indivisible in character and thus part relief cannot be granted inasmuch as all the executants have not challenged the said sale deeds to be null and void also deserves ..... . in vedakannu nadar (supra) the madras high court was dealing with a trust created for charitable endowment and it was held that since there was one contract for a single consideration and each part of the contract was an inducement to every other part thus there was no warrant for dissecting the bargain into two distinct parts. thus the reason why the ..... whole settlement must be set aside. the two decisions do not lay down a universally applicable rule that in no case, the contract cannot be severed. whether a contract can be severed would depend on the terms of the contract.17. learned counsel for visa agro has strenuously argued that since both the sale deeds were registered and there being presumption under section ..... contract was not severed was that the parts of the contract were reciprocal to each other. in mahadeo jew (supra) again the court was dealing with a trust and thus it was held that the terms of settlement .....

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Jul 15 2015 (HC)

M/S Visa Agro Industries Pvt Ltd (Presently Visa R Vs. Sh. Charan Sin ...

Court : Delhi

Decided on : Jul-15-2015

..... by the revenue court and only a civil court is competent to decide the same.15. the contention of learned counsel for visa agro that the sale deeds are one contract and indivisible in character and thus part relief cannot be granted inasmuch as all the executants have not challenged the said sale deeds to be null and void also deserves ..... . in vedakannu nadar (supra) the madras high court was dealing with a trust created for charitable endowment and it was held that since there was one contract for a single consideration and each part of the contract was an inducement to every other part thus there was no warrant for dissecting the bargain into two distinct parts. thus the reason why the ..... whole settlement must be set aside. the two decisions do not lay down a universally applicable rule that in no case, the contract cannot be severed. whether a contract can be severed would depend on the terms of the contract.17. learned counsel for visa agro has strenuously argued that since both the sale deeds were registered and there being presumption under section ..... contract was not severed was that the parts of the contract were reciprocal to each other. in mahadeo jew (supra) again the court was dealing with a trust and thus it was held that the terms of settlement .....

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