According to Madhur Verma, Joint Commissioner of Police (CP) and Head of ACB, the liquidated damages worth Rs 16 crore were allegedly arbitrarily waived by receiving a bribe of Rs 7 crore.
Mumbai (Maharashtra)/ New Delhi [India], September 20: Cyril Amarchand Mangaldas advised and represented SEIL Energy Private Limited (SEIL) in arbitration proceeding initiated against it by NCC Limited (NCC), on disputes arising out of EPC contracts aggregating to Rs 2557 crore. In a signifi
The Ministry of Finance on Monday provided a major relief to Micro, Small and Medium Enterprises (MSMEs) by asking ministries to refund performance security/ bid security and liquidated damages forfeited/ deducted during the COVID-19 pandemic, according to a press release.
Bhubaneswar (Odisha) [India], May 22 (ANI): Odisha government on Friday relaxed Earnest Money Deposit (EMD), Bid security, and Liquidated Damage for the bidders willing to participate in global e-tender floated by the state government to provide COVID-19 vaccine.
Mumbai (Maharashtra) [India], Dec 23 (ANI): Reliance Infrastructure Ltd said on Monday it has won a major arbitration award of Rs 1,250 crore against government-owned Damodar Valley Corporation (DVC).