Supreme Court : A party cannot claim anything more than what is covered by the terms of contract

Hon’ble Supreme Court has interalia held in the matter of Rajasthan State Industrial Development & Investment Corporation V. Diamond & Gem Development Corpn Ltd. (2013) 5 SCC 470,  as under:

“A party cannot claim anything more than what is covered by the terms of contract for the reason that contract is a transaction between the two parties and has been entered into with open eyes and understanding the nature of contract.  Thus, contract being a creature of an agreement between two or more parties has to be interpreted giving literal meanings unless, there is some ambiguity therein.  The contract is to be interpreted giving the actual meaning to the words contained in the contract and it is not permissible for the Court to make a new contract, however reasonable, if the parties have not made it themselves.  It is to be interpreted in such a way that its terms may not be varied.  The contract has to be interpreted without any outside aid. The terms of contract have to be construed strictly without altering the nature of the contract, as it may affect the interest of either of the parties adversely.  ( Vide United India Insurance Co. Ltd. V. harchand Rai Chandan Lal (2004) 8 SCC 644; AIR 2004 SC 4794) and Polymat India ( P) Ltd. Vs. National Insurance Co. Ltd. [ (2005) 9 SCC 174; Air 2005 SC 286].”