New Arbitral Tribunal directed to be formed due to fee dispute under Article 142 of Constitution of India: SC

Oil and Natural Gas Corporation Ltd. Vs Afcons Gunanusa JV (Supreme Court of India) Conclusion: In present facts of the case, the Hon’ble Supreme Court of India invoked Article 142 of the Constitution of India and have directed to form new arbitral Tribunal due to disputes in the fee structure provided in IV Schedule of the Arbitration and Conciliation Act, 1996. Facts: On 29 May 2009, an agreement was executed between the parties for a Lump Sum Turnkey Contract for the construction of an ICP-R Platform. The ICP-R Platform was alleged to have been completed on 31 October 2012. But due to on...