M/S.State Industries Promotion vs M/S.Rpp Infra Projects Limited
33.In the case in hand, the learned Arbitrator was only assessing the
loss of profit and not loss of profitability. While determining the same, the
learned Arbitrator has taken note of the Standard Data Book published by the
Ministry of Shipping and Transport and also the judgement of the Apex Court
in the case of A.T. Brij Paul Singh and Others vs. State of Gujarat reported
in 1984 4 SCC 59 and fixed 10% of the balance value of the work towards
loss of profit. The learned Arbitrator has also taken into consideration the fact
that the original contract was for a period of six months and the project was
prolonged for more than five years and the learned Arbitrator has also
assigned sufficient reasons as to why such delay is attributable to the
petitioner. Those reasonings do suffer from any perversity or manifest
illegality.