Bombay High Court Partly Allows State's Appeal and Dismisses Contractor's Appeal in Arbitration Dispute Over Bridge Construction — Interest Rate Reduction from 25% to 18% per annum Upheld. The court held that the District Judge's modification of future interest was within permissible limits under Section 34 of the Arbitration and Conciliation Act, 1996 and the award did not contravene public policy....
The case involves two appeals under Section 37 of the Arbitration and Conciliation Act, 1996 arising from a dispute between the State of Maharashtra (through its Executive Engineer, Public Works Divis...
