Bombay High Court Partially Allows Challenge to Arbitral Award in Contract Dispute — Upholds Award on Most Claims but Sets Aside Interest Rate. Dispute arose from delays in crude distribution system project; court held that arbitrator's findings on delay and damages were not perverse but interest rate of 18% was excessive and reduced to 9%.
30 Oct 2015The petitioner, Indian Oil Corporation Ltd., challenged an arbitral award dated 30 June 2005 under Section 34 of the Arbitration and Conciliation Act,...
