SSANGYONG ENGINEERING AND CONSTRUCTION CO. LTD vs NATIONAL HIGHWAYS AUTHORITY OF INDIA(NHAI)

The Supreme Court addressed a dispute regarding the price adjustment formula in a construction contract between Ssangyong Engineering and the National Highways Authority of India. The court examined the applicability of sub-clause 70.3 of the contract, which pertains to the adjustment of costs for various components including cement and steel. The judgment clarified the interpretation of the formula and upheld the appellant's claim for price adjustments based on the agreed terms, thereby ruling in favor of the appellant.