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What is ONGC v Saw Pipes: Liquidated Damages Ruling about?

This case involved a dispute between ONGC and Saw Pipes over liquidated damages in a contract for offshore oil equipment. An arbitration tribunal ruled against ONGC requiring them to prove financial losses, rather than enforcing the liquidated damages clause. ONGC challenged this award. The Supreme Court ultimately set aside the award, ruling that the tribunal should have enforced the liquidated damages clause without requiring ONGC to prove losses, as the contract terms were clear. However, this ruling exp

Author

ravi praveen

Language

EN