Validity of Arbitral Award - neglected to furnish the Form-Cs ...

Arbitral Tribunal Upholds Decision to Deny Late Amendment Request Due to Form-C and Counterclaim Delays.

January 10, 2022

Case Laws     VAT and Sales Tax     HC

Validity of Arbitral Award - neglected to furnish the Form-Cs within the time prescribed resulting in a sales tax assessment - penalty imposed under the ‘Take or Pay/Supply or Pay’ Clause - HPCL had delayed in filing its counter claim, which was filed along with its sur-rejoinder after the pleadings were complete. The application to make an amendment was moved at the stage of final hearing of the claims. Undeniably, the same was at a much belated stage. Thus, the decision of the Arbitral Tribunal to deny HPCL’s request to amend the claim cannot be faulted. - HC

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