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Ballarpur Industries Ltd. And Anr vs The State Of Mah. Thr. Secty., Dept. Of ... on 6 March, 2020 cites

Citi Bank N.A vs Standard Chartered Bank & Others on 8 October, 2003

17. Section 62 of the Indian Contract Act deals with the effect of novation, rescission or alteration of the contract entered into between the parties, and it states that if the parties to a contract agree to substitute new contract for it, or to rescind or alter it, the original contract need not be performed. Thus, the novation, rescission or alteration of the contract can be done only with the agreement of both the parties to the contract and it cannot be unilateral (City Bank of N.A. v. Standard Chartered Bank and others, reported in (2004) 1 SCC 12). In view of the overriding effect given to Section 3 of the Act of 1982 on the provisions contained in any law for the ::: Uploaded on - 06/03/2020 ::: Downloaded on - 07/03/2020 08:03:33 ::: 15 wp3659 of 2009 and 1486 of 2014.odt time being in force, the principle of law contained in Section 62 of the Indian Contract Act would not be available by way of defence to urge that there cannot be unilateral change, amendment, substitution or alteration of the terms and conditions of the contract entered into between the parties.
Supreme Court of India Cites 17 - Cited by 71 - Full Document

Union Of India & Anr vs Cynamide India Ltd. & Anr on 10 April, 1987

In the landmark decision of the Apex Court in the case of Union of India and another v. Cynamide India Ltd. and another, reported in (1987) 2 SCC 720, one of the principal objectives of price fixation stated, is ::: Uploaded on - 06/03/2020 ::: Downloaded on - 07/03/2020 08:03:33 ::: 18 wp3659 of 2009 and 1486 of 2014.odt to fetter and curb profiteering in the scarce resources of the community keeping up to the directive in Article 39(b) of the Constitution. It is held that a price fixation measure does not concern itself with the interests of an individual manufacturer or producer. It is generally in relation to a particular commodity or class of commodities or transactions. It is a direction of a general character, not directed against a particular situation. It is intended to operate in the future. It is conceived in the interests of the general consumer public. The right of the citizen to obtain essential articles at fair prices and the duty of the State to so provide them are transformed into the power of the State to fix prices and the obligation of the producer to charge no more than the price fixed.
Supreme Court of India Cites 32 - Cited by 286 - O C Reddy - Full Document
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