Further, when the agreement categorically stipulated timelines for the commencement and completion of the construction and the consequences...

 As per the crystallized  legal position, sum ascertained as liquidated damages in the contract is not in the nature of penalty, but is a pr...

5.2 In the communication granting extension of time with levy of penalty, penalty is levied by the State Government invoking Clause 3.5.5(v)...

  The expression “whether or not actual damage or loss is proved to have been caused thereby” means that where it is possible to prove actua...

 Mr. Raheja's contention that HPCL was not required to either plead or prove any loss is difficult to accept. In  Kailash Nath Associate...

This brings us to the waiver. It may be noted that ONGC waived liquidated damages twice before giving extension with pre-estimated damages. ...

1) Contracts  generally include a provision for the one party  to pay  liquidated damages  (or  liquidated and ascertained damages , ) to ...

Both the parties have not complied with and performed, their reciprocal obligations in time. The delay cannot be attributed to the breache...

 On a conspectus of the above authorities, the law on compensation for breach of contract under Section 74 can be stated to  be as follo...

 On the decisions as aforesaid, the principles which follow in the matter of application of Section 74  are that where an agreement provi...