Valmiki J. Mehta, J.

1. An issue of far reaching importance is called for decision in the present case. The issue is that can contractual clauses dis-entitle a person from claiming damages which a person is otherwise entitled to under law. Putting it differently, can a person who is guilty of breach of contract and is consequentially liable in law to pay damages under Section 73 of the Contract Act or other charges under Section 55 of the Contract Act 1872, can prevent the aggrieved party from claiming the same by contractually so providing i.e. can the Arbitrator be prevented from awarding the damages/losses simply because clauses in the contract prohibits award of damages/losses.

2. The relevant contractual clauses in this case are Clauses 11A to 11C and which clauses read as under:

"11. Time, delay and extension. - (A) Time is of the essence of the contract and is specified in the contract documents or in each individual works order. As soon as possible, after contract is let or any substantial work order is placed and before work under it is begun, the GE and the contractor shall agree upon the time and progress chart. The chart shall be prepared in direct relation to the time sta