The Ease of Doing Business rankings released annually by the World Bank currently ranks India at 163 in Enforcing Contracts. The importance placed by the Modi Government on these, and India’s overall dismal performance has forced the government to take several measures, especially in the field of enforcement of contracts.
The Indian Contract Act, 1872 (Contract Act) and the Specific Relief Act, 1963 (Act) are the two primary legislations governing the enforcement of contracts between parties. While the Contract Act lays down the general principles governing contracts and levy of damages for breach thereof, it also provides for an exception of awarding specific relief in the form of specific performance of contracts. Continue Reading Contract Enforcement – Ushering In an Era of Performance