EXEC.DIRECTOR STEEL AUTH.OF INDIA vs TYCOON TRADERS .

The Supreme Court upheld the High Court's decision that the contract between Steel Authority of India (SAIL) and Tycoon Traders was frustrated due to the refusal of permission to transport iron ore through Bhadra Wildlife Sanctuary, as per Section 38(v) of the Wildlife (Protection) Act, 1972. The Court affirmed that in cases of frustration, parties must be restored to their original positions, thus SAIL was directed to refund the entire amount received from the respondent. The appeal was dismissed, confirming the High Court's order for refund.