In Brief
These consolidated civil appeals involve the interpretation of a price adjustment formula in standard NHAI contracts for highway construction. Multiple contractors claimed price adjustments for bitumen using current market rates, while NHAI insisted on using base rates (from the bid date). The Court held that the base rate must be used. Using current rates would create negative percentages for other materials, making the formula mathematically impossible and result in double compensation to contractors. The decision also addresses issue estoppel, holding it applies only when cases achieve full finality without pending judicial proceedings.
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