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Supreme Court”) in the matter of  Government of Maharashtra v. M/s Borse Brothers Engineers & Contractors Pvt. Ltd. (“ Borse Brothers”) overturned one of its earlier verdict in the matter of  NV International V. State of Assam (“ NV International”). 1 The Supreme Court clarified that an aggrieved party must file an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (“ A&C Act”) within 60 days from date of order. The Supreme Court further held that a delay in filing appeals under Section 37 of the A&C Act can be condoned by the appellate court. However, suc...

Brief Facts R. Narayanan v. The Government of Tamil Nadu and Ors. 1, the Nagercoil Municipal Corporation ( Municipal Corporation) had conducted a public tender cum auction sale of licenses to occupy ( License) shops in a bus stand. The petitioner herein was one of the successful bidders, who offered to pay a sum of INR 1,15,000 as a monthly fee for the License ( License Fee). The Municipal Corporation issued the License to the petitioner for a tenure of three years commencing from 1 November 2019. The petitioner paid one-year's License Fee in advance payment to the Municipal Corporation. On 2...

Supreme Court of India (File photo) NEW DELHI: With high commercial value disputes getting regularly referred to arbitration in India, the Supreme Court has decided to sort out prevailing confusion over what is the limitation period for filing of appeal against arbitral award - 90 days or 120 days. But, the attempt to clear the confusion saw parallel proceedings in the Supreme Court as two coordinate benches took up the matter and passed orders. The confusion over the limitation period for filing appeal against arbitral awards arose from judgements of the SC, one holding that it was 90 days ...

Karda Constructions Ltd Q3FY21 PAT at Rs. 3.73 crore Posted On: Karda Constructions Ltd has reported financial results for the period ended December 31, 2020. Financial Results (Q3 FY20-21) - QoQ Comparison The company has reported total income of Rs.41.33 crores during the period ended December 31, 2020 as compared to Rs.21.63 crores during the period ended September 30, 2020. The company has posted net profit / (loss) of Rs.3.73 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.2.10 crores for the period ended September 30, 2020. The company has reported EPS...

KNR Constructions Ltd Q3FY21 consolidated net profit drops QoQ to Rs. 97.55 crore