Bombay High Court Partially Allows Challenges to Arbitral Award in Co-operative Bank Dispute — Upholds Liability of Guarantor but Sets Aside Interest Rate and Costs. The court held that the arbitrator exceeded jurisdiction by awarding interest at 24% per annum and costs without agreement, but upheld the principal liability under the guarantee.
27 Jan 2017The judgment concerns two arbitration petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award da...
