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ARAVIND KUMAR
Vijay Tanks And Vessels Pvt Ltd – Appellant
Versus
Indian Oil Corporation Limited – Respondent
ORDER :
1. Though the matter is listed for admission, by consent of learned advocates appearing for the parties, it is taken up for final disposal.
2. I have heard arguments of learned Senior Counsel Mr. S.N. Soparkar for petitioner and Mr. Manish Bhatt, learned Senior Advocate appearing for respondent. Perused the records.
3. A tender came to be floated by the respondent inviting bids from prospective contractors for the purpose of Capacity Augmentation of Indian Oil Corporation Ltd. LPG Import Terminal from 0.6 Metric Tonne Per Annum (MTPA) to 2.5 (MTPA). Petitioner which is a company incorporated under the Companies Act, 1963 had participated in the said tender process floated by respondent and offered its bid resulting in petitioner being declared as L1 bidder both in tender price opening and in reverse auction held on 16.09.2019. During price negotiations, further price discounts aggregating to 2.75% offered by the petitioner was duly accepted by the respondent namely after negotiations held on 16.09.2019, 26.09.2019 and 27.09.2019. Further discussion was held with regard to a paragraph of the tender document, which was said to have been deleted in the tender document under claus
The main legal point established in the judgment is the existence of an arbitration agreement between the parties for resolution of disputes as per clause 13.5 of the tender document, and the determi....
Prima facie arbitration agreement via GCC clauses 24-25; termination disputes arbitrable sans appointed DRE or applicable pre-steps; court appoints arbitrator under s.11 despite departmental remedies....
The court upheld the arbitral tribunal's authority to decide disputes not found in the Adjudicator's decision, and found no grounds to interfere with the Arbitral Award under Section 34 of the Arbitr....
The existence of an arbitration agreement under Section 11 requires clear indication of a binding contract, which was absent in this case; the Letter of Intent was merely a precursor to an actual con....
Disputes arising before the parties enter into a contract are not arbitrable under the arbitration clause in the subsequent contract agreement.
The main legal point established in the judgment is that the acceptance of a Letter of Intimation (LoI) can create a contractual relationship, and the obligations of the selected bidder, as per the t....
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