#Loss of Profit

Bombay High Court upholds a ₹27.43 crore arbitral award, ruling that ONGC’s wrongful termination of an ETP contract entitles Newton Engineering to both loss of profit and refund of the performance bank guarantee. The judgment reaffirms the limited scope of judicial review under Section 34 of the Arbitration Act, reinforcing contractual sanctity in commercial disputes.

The Madhya Pradesh High Court has ruled that when an arbitration award is remanded for fresh adjudication, the tribunal is bound by prior judicial findings on state-caused delay and cannot revisit or negate them. This reinforces the doctrine of judicial finality in construction arbitration, protecting contractors from arbitrary recalculations of delay liability even after remand.

Bombay High Court upholds arbitral award granting loss of profit damages upon wrongful termination, clarifying distinction between 'loss of profit' and 'loss of profitability' under Indian Contract Act.