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TMI Blog2023 (6) TMI 321X X X X Extracts X X X X X X X X Extracts X X X X ..... tive) for the Respondent ORDER When the matter came up for hearing, Shri Sarju Mehta, CA appearing for the appellant took us through various documents to indicate that the price in the instant case of Ship Breaking was re-negotiated because of the following factors: * Number of items were either replaced or not found as per the understanding arrived with the seller. * Prices in general had c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Indian waters and also that the original agreement provided clearly that the delivery will be in Indian water and after due inspection by them. Therefore, submission was that in view of the original agreement, the price could not be finally determined and same was earlier tentative or provisional price, which was subjected to condition of inspection by them and arriving at the final price, which w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B. Main engine has been changed (that does not show whether for worse or for betterment). Same is the situation with propeller blade having been changed and almost all spare/accessories having been removed from engine rooms of the vessels. Apart from this, it has also been pointed out that the market prices had come down 10-15% during the period. However, the period has not been specified nor a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ternational market prices having come down during the relevant period. The date of entry will be relevant but also whether the re negotiated transaction value was correct and final in terms of re-negotiated contract, it is also to be seen whether same was in consonance with the terms of original agreement, which allowed them to examine the ship in Indian waters. 6. In view of the foregoing, the o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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