Bombay High Court Partially Allows Challenge to Arbitral Award in Contract Dispute — Liquidated Damages and Interest Reduced. Court upholds arbitrator's finding on delay but modifies interest rate from 7% to 6% per annum under Section 34 of the Arbitration and Conciliation Act, 1996.
5 May 2011The case involves a challenge under Section 34 of the Arbitration and Conciliation Act, 1996, by Indian Oil Corporation Limited (petitioner) against a...




