Bombay High Court Partially Allows BSNL's Challenge to Arbitral Award in Advertisement Contract Dispute — Reduces Interest Rate from 24% Compound to 18% Simple. The court held that an arbitral award granting 24% compound interest per annum is exorbitant and contrary to public policy under Section 34 of the Arbitration and Conciliation Act, 1996, and reduced it to 18% simple interest.
5 Jan 2015The petitioner, Bharat Sanchar Nigam Ltd. (BSNL), a statutory body, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, c...




