Search Results Page

Search Results

1 - 4 of 4 (0.30 seconds)
Lite Containers (P) Ltd vs Hindustan Petroleum Corporation Ltd on 15 March, 2019 cites

Bhupendra Singh Bhatia vs State Of M.P. And Others on 6 December, 2006

11. According to the learned single Judge, the arbitrator failed to notice the fact that only other terms and conditions, save and except price were to remain unchanged whereas the prices was subject to revision as aforesaid. Therefore, the Court found that the arbitrator had proceeded on an 11/32 ::: Uploaded on - 16/03/2019 ::: Downloaded on - 17/03/2019 01:24:50 ::: APPEAL_246.11_connected_matters.odt erroneous basis and the price has not been finalised and that the arbitrator could at best fix the price which he had failed to do. The impugned order proceeded to consider submissions on behalf of the appellants that the price specified in the purchase order could not be subjected to upward or downward variation as contemplated in the judgment of the Supreme Court in Bhupendra Singh Bhatia vs. State of Madhya Pradesh 2006 (13) SCC 700 . The Single Judge found that the Supreme Court in that case had observed that when a sale of any commodity was made, the seller and purchaser both must know the price at the time of or before the sale. If a purchase price has to be fixed later, it was always open to the purchaser to reduce the purchase price to a negligible amount. Similarly if sale price is to be fixed subsequently, the seller could demand an exorbitant amount. That such coercive action is not expected of the State which would be treated arbitrary and unreasonable.
Supreme Court of India Cites 2 - Cited by 53 - M Katju - Full Document
1