The Supreme Court (SC) on Friday ruled that clauses allowing public sector undertakings (PSUs) to unilaterally appoint arbitrators to resolve disputes with private contractors are invalid.
As a result, PSUs will need to modify their contracts to comply with the judgment, which states that unilateral appointment clauses in public-private contracts violate Article 14 of the Constitution (right to equality).
Esta historia es de la edición November 09, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 09, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Loser takes all
This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.
J&K HC asks Army to pay 46 years' rent to landowner
The High Court of Jammu and Kashmir and Ladakh recently held that the right to property now falls within the realm of human rights.
India, UK navies to develop electric propulsion for next-gen warships
The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.
India backs Iskcon, tells Bangladesh to protect minorities
New Delhi hopes arrested monk will get fair trial
HAVING A BALL
Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?
Link UPI app to bank account with limited funds, set daily limits
Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.
Arpu gains, lower capex augur well for Airtel
Brokerages positive on stock; earnings flows may rise over next 24 mths
NIFTY LOGS BACK-TO-BACK MONTHLY LOSS
Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.
Lock-up on ₹1.2 trn pre-IPO shares to lift in two months
Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.
Margin moderation may cap upsides for Colgate
After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.
