Icon Sleeper Track Private Limited vs Rail Vikas Nigam Limited

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

DELHI HIGH COURT
VIBHU BAKHRU, PURUSHAINDRA KUMAR KAURAV
Icon Sleeper Track Private Limited – Appellant
Versus
Rail Vikas Nigam Limited – Respondent

Table of Content
1. procedural background of the appeal (Para 1 , 2)
2. claim of patent illegality regarding arbitration award (Para 3)
3. opposition to claims made by appellants (Para 4)
4. framework of price adjustment formula in contract (Para 7 , 8 , 9 , 10 , 11)
5. court's reliance on established contract law principles (Para 12 , 13)
6. importance of adhering to original contract terms (Para 14)
7. conclusion upholding arbitration award (Para 15)

JUDGMENT

Purushaindra Kumar Kaurav, J.

1. This appeal under Section 37 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as `A&C Act') read with Section 13 of the Commercial Courts Acts, 2015 (hereinafter referred to as `CCA') is directed against the order dated 10.12.2021, passed by the District Judge (Commercial Court)-01 Patiala House Courts, New Delhi, rejecting an application under Section 34 of the A&C Act and affirming the arbitration award dated 03.08.2010 passed by the Arbitral Tribunal (hereinafter referred as `AT').

2. The brief facts leading to filing of the present appeal are as under:

(i) The respondent-Rail Vikas Nigam Limited (RVNL) invited bids for the work of "MANUFACTURE AND SUPPLY OF PSC MONO-BLOCK

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DELHI HIGH COURTVIBHU BAKHRU, PURUSHAINDRA KUMAR KAURAVIcon Sleeper Track Private Limited – AppellantVersusRail Vikas Nigam Limited – Respondent

DELHI HIGH COURT
VIBHU BAKHRU, PURUSHAINDRA KUMAR KAURAV
Icon Sleeper Track Private Limited – Appellant
Versus
Rail Vikas Nigam Limited – Respondent