Bombay High Court Partially Sets Aside Arbitral Award in Agency Agreement Dispute — Upholds Claim for Outstanding Invoices but Remits Interest Calculation. The court held that the arbitrator's award of interest at 18% per annum from the date of each invoice was contrary to the contract and Section 31(7)(a) of the Arbitration and Conciliation Act, 1996, which requires interest to run from the date of cause of action unless otherwise agreed....
The petitioner, Aero Club, filed two petitions under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award dated 14th December 2015 and a partial final award dated 5t...
