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Interest on Bank Loan

The respondent challenged the termination notice and claimed Rs.69,67,60,270/- under clause 32.6 of the Agreement relatable to the “termination payment”.

In this case, the respondent claimed interest of Rs.42,55,57,298/- on loan obtained from EXIM Bank Malayasia for the project.

The termination payment was clubbed to include damages for financial closure, damages for delay, reimbursement of bank guarantee charges, insurance policy and overheads.

The Arbitral Tribunal, on extensive examination of the evidence, found that the respondent was not at fault and the termination of the contract by the Corporation was completely unjustified, unlawful, arbitrary and void.

judgment dated 29.5.2026 of the Supreme Court in Madhya Pradesh Road Development Corporation Ltd  Vs.  M/s Jabalpur Corridor Pvt Ltd in Civil Appeal No.10877 of 2018

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