Chief Executive Officer and Vice Chairman Gujarat Maritime Board Vs Asiatic Steel Industries Ltd And Ors.

Last updated: 02 December 2020

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Quick Summary

The Supreme Court heard an appeal from the Gujarat Maritime Board (the Board) regarding a dispute with Asiatic Steel Industries Ltd. Asiatic Steel had bid for and been allotted a plot for ship-breaking but later abandoned the contract due to difficulties with the site. They sought a refund of their payment with interest, which the High Court had granted. The Supreme Court's judgement addresses whether the Board is liable to pay interest on the refunded amount.

Court :
Supreme Court

Brief :
Leave granted. With consent, the appeal was heard. This appeal is directed against a judgment of the High Court of Gujarat dated 24.07.2015. The respondent (hereafter “Asiatic Steel”) had filed a writ petition before the High Court seeking refund of contract consideration of ₹3,61,20,000/- paid by them to the appellant (hereafter “the Board”). The High Court allowed the writ petition, in view of its earlier interim order, and directed the Board to pay interest for the period from 08.11.1994 to 19.05.1998. The brief facts that arise for consideration are as follows.

Citation :
CIVIL APPEAL NO. 3807 OF 2020

Daily Limit Reached