1997 Amendment To Indian Contract Act Operates Prospectively: SC [Read Judgment]

Section 28, being substantive law, operates prospectively as retrospectively is not clearly made out by its language, the Bench observed.The Supreme Court in UNION OF INDIA & ANR. Vs. M/S INDUSIND BANK LTD., has held that the 1997 amendment to the Indian Contract Act, which made certain agreements covered by Section 28(b) of the Act void, operates prospectively.The Bench comprising Justice...