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ARTICLE · 17 JUNE 2025

HSA | Dispute Resolution & Arbitration Monthly Update | June 2025

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M/s Jindal Steel and Power Ltd. ("Appellant") issued a work order on 24.01.2022 to M/s Bansal Infra Projects Pvt. Ltd. ("Respondent No. 1") for constructing 400 flats at Jindal Nagar...

IndiaLitigation, Mediation & Arbitration
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In The Supreme Court of India M/S Jindal Steel and Power Ltd. & Anr. (Appellant) V/S. M/S Bansal Infra Projects Pvt. Ltd. & Others (Respondent)

2025 SCC OnLine SC 1041

Background facts 

  • M/s Jindal Steel and Power Ltd. ("Appellant") issued a work order on 24.01.2022 to M/s Bansal Infra Projects Pvt. Ltd. ("Respondent No. 1") for constructing 400 flats at Jindal Nagar, valued at Rs. 43,99,46,924.13, with an advance of Rs. 3,73,95,490/- secured by a bank guarantee dated 08.03.2022.
  • The project, initially due by September 30, 2022, was extended to 30.06.2023 and later to 30.09.2023 with a condition that retention money would be forfeited if not completed.
  • The Appellant terminated the work order on July 7, 2023, citing Respondent No. 1's poor performance, quality issues, and non-compliance with contract terms. Subsequently, on March 25, 2024, the Appellant demanded Rs. 4,12,54,904/- by 30.04.2024 for unadjusted advances to and encash the bank guarantee

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