DATE – 19 Aug 2022
The Indian construction sector contributes up to 9 percent to India’s GDP making it the second largest industry and employer in India. It is predicted to become the third-largest construction market globally by 2025. As the number of private and public-private projects increase, so do disputes. Currently, Indian construction projects are facing issues surrounding extension of time, idling, cost overruns, variations, financing issues. Another array of disputes arises in government contracts which are widely worded and often contain one-sided
provisions. The panel/speakers at this webinar discussed on, current judicial and practice trends arising out of the judgment of Supreme Court of India’s on Indian Oil Corporation v. NCC Limited. Specifically, the speakers covered (1) notification of claims in construction contracts: time-bar in clauses as a condition precedent; (2) accord and satisfaction between the parties: whether it can be an issue of arbitrability for the court; (3) arbitrability in construction arbitrations; and (4) excepted matters in construction contracts.
