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Lok Sabha Passes Bill Regarding Breach of Contract
A bill proposing to grant a party the right to seek damages from the other side in case of a breach of a business contract and to reduce the discretion of courts in such matters was passed by the Lok Sabha today amid the din.
The House passed The Specific Relief (Amendment) Bill, 2018 by a voice vote even as several parties were protesting in the Well over different issues, including the PNB scam.
Several amendments moved by N K Premchandran (RSP) were negated by voice vote.
The bill aims to tweak a 54-year-old law that deals with the specific fulfillment of a contract, as part of the government's ease of doing business policy. The Union Cabinet had in December last approved amendments to the Specific Relief Act, 1963.
The present law provides for a certain kind of specific relief. The Act is a remedy which aims at the exact fulfillment of an obligation or specific performance of the contract rather than a grant of a general relief or damages or compensation.
Source: PTI
