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Supreme Court Allows Contractor's Appeal in Arbitration Dispute Over Interest on Delayed Payment. The court examined entitlement to interest under Clause 60.8 of the contract and validity of alleged waiver through communications, referencing arbitration provisions and contract law principles.

The dispute arose from a contract awarded by the State of Kerala to the appellants for highway upgradation, executed on 7 November 2002. The appellant...

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Bombay High Court Dismisses Petition Under Section 34 of Arbitration Act Seeking Modification of Interest Award — Arbitral Tribunal's Discretion on Interest Rate and Period Not Interfered With

The Petitioner, IMC Limited (formerly United Storage & Tank Terminals Ltd.), filed a petition under Section 34 of the Arbitration and Conciliation Act...

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INTERIM APPLICATION NO.1075 OF 2023

The plaintiff, Usha Sunder Premises CHS Ltd., a cooperative society registered under the Maharashtra Co-operative Societies Act, 1960 with 25 members,...

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High Court of Karnataka Allows Union of India's Revision in Arbitration Execution Case Due to Merger of Interim Award with Final Award. Interest Calculation Must Be Based on Final Award Under Section 31(7)(b) of Arbitration and Conciliation Act, 1996.

The Union of India, owning South Western Railway, filed a civil revision petition under Section 115 of the Code of Civil Procedure, 1908, challenging ...

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Supreme Court Upholds Enhanced Share Valuation, Awards Interest at 6% Pre-Decree and 9% Post-Decree in Decades-Old Dispute. Balancing Equity and Commercial Realities: SC Modifies Interest Rates in Rajasthan State Mines Share Acquisition Case

Valuation of Shares – The Supreme Court affirmed the High Court’s valuation of shares at ₹640 per share, rejecting the State’s objections. Th...