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1 - 8 of 8 (1.28 seconds)The Companies Act, 1956
Indian Companies Act, 1913
Section 73 in The Indian Contract Act, 1872 [Entire Act]
Nar Singh Prasad vs Shailender Kumar Mishra on 4 August, 2017
39. A bare perusal of the abovesaid principle of law
depicts that even if the plaintiff has failed to perform his part of
the contract, though not proved by defendant, even then, the
defendant is not entitled to ask for liquidity damages or could
invoke the clause of the said agreement by way of forfeiture of
the said amount either as a penalty or by way of liquidated
damages. The mandate of section 74 of Indian Contract Act is that
the defaulting party is to pay the reasonable damages not
exceeding the amount so named only to the other party. The
amount cannot be recovered by the other party from the party in
default by way the penalty in as much as the damages as penalty
only are prohibited by virtue of section 74 of the Indian Contract Act.
In this regard, though not quoted reliance is placed upon Nar Singh
Page nos. 21 of 24
CS no. 43/2016 Kishore Kumar Rajora v. Mukesh Rajore & ors. DOD : 01.04.2022
Prasad vs Shailender Kumar Mishra judgment passed in RFA
No.702/2017 by Hon'ble High Court of Delhi, wherein it has been
observed as under :
The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
Section 37 in The Indian Contract Act, 1872 [Entire Act]
Section 39 in The Indian Contract Act, 1872 [Entire Act]
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