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2007 (9) TMI 598 - SUPREME COURTWhether the case of DIC for such liquidity damages was covered under Clause 18 or Clause 22 of the General terms and conditions of the contract? Held that:- The claimant DIC is entitled to ₹ 2 crores for substituted material, ₹ 8.9 crores for liquidity damages, ₹ 0.2 crore as interest paid on the delayed funds i.e. ₹ 11.1 crore ( ₹ 2 crore + ₹ 8.9 crore + ₹ 02 crore) and finally interest at the rate of 12 per cent pendente lite from the date of the claim petition till realization. The payment should be made within a period of six months from today failing which it will carry interest at the rate of 15 per cent per annum. The appeal arising out of S.L.P.(c) No.20989 of 2006 is partly allowed. The order passed by the High Court is modified as indicated above. The claim of the DIC is decreed to the extent indicated above. However, the appeal arising out of S.L.P.(c) No.4409 of 2007 filed by the DIC is dismissed.
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