Delhi Metro Rail Corporation v. Traffic Media India Pvt. Ltd.
Case brief
What is this about?
Security-deposit forfeiture following surrender of a metro advertising licence was challenged in cross-petitions. The Court rejected the limitation objection, set aside forfeiture and panel-cost reimbursement, and awarded interest on the refundable deposit. It declined interference with rejection of bank-guarantee charges and the award of overstay charges. Both petitions partly succeeded.
What did the court decide?
Security-deposit retention and panel-cost reimbursement set aside; interest at 6% per annum on the refundable deposit from appointment of the arbitrator.