Gokuldas Exports vs Jain Exports (P) Ltd

The Supreme Court upheld the High Court's decree for recovery of Rs. 5,47,740 with interest at 18% per annum, affirming the enforceability of the agreement between the parties under the Indian Contract Act, 1872. The Court emphasized that the appellant's failure to facilitate the revalidation of the import licence constituted a breach of contract, thereby entitling the respondent to recover the amount paid under the agreement. The judgment confirmed that the terms of the contract were clear and binding, and the appellant was liable for the non-performance of contractual obligations.