Tag: Contractual Clauses
December 8, 2021
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
‘Time is of the essence of the contract’, o...
The Supreme Court of India ("SC") in the case Welspun Specialty Solutions Ltd. vs. ONGC , ("judgement") recently held that, merely having an explicit clause in a contract may not be sufficient to make time the essence of the contract. The SC determined whether the contract between Welspun Specialty Solutions Ltd. ("Welspun") and the Oil and Natural Gas Corporation ("ONGC") was one where time is of the essence. ......