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Epc Constructions India Limited ... vs Matix Fertilisers And Chemicals ... on 9 April, 2025 cites

Union Of India vs Association Of Unified Telecom Service ... on 24 October, 2019

"76. The definition of gross revenue is crystal clear in the agreement. How the adjusted gross revenue to be arrived at is also evident. It cannot be submitted that the revenue has not been defined in the contract. Once the gross revenue is defined, one cannot depart from it and the very meaning is to be given to the revenue for the agreement. Overall revenue, has to be taken into account for determination of licence fees without set off, as provided in the agreement. The same was defined to simplify it to rule out the litigation, disputes and accounting myriads. The submission raised that the term revenue has to be interpreted as the consideration payable in keeping with commercial and financial parlance is what is intended to be avoided. Raising of such submission is a futile attempt that has been made to wriggle out of the definition of gross revenue, which has been held to be binding in the previous judgment in Union of India v. Assn. of Unified Telecom Service Providers of India. The submission that the contract recognises the applicability of accounting standards, in our opinion, it is only to Company Appeal (AT) (Insolvency) No. 1424 of 2023 -32- maintain books of accounts. To a certain extent, it cannot be disputed that to have clarity, uniformity and definitiveness; the accounting standards lay down guidelines with respect to financial terms. However, when the financial terms in the agreement are clear in the form of definition of gross revenue governed by Clause 19.1 of the agreement, the definition of Accounting Standard 9 cannot supersede it which is a general one."
Supreme Court of India Cites 116 - Cited by 86 - A Mishra - Full Document
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