Bombay High Court Partially Allows Challenge to Arbitral Award in Pipeline Project Dispute — Interest Modified to Simple Interest. The court held that pre-reference interest was not permissible under the contract and compound interest was contrary to the agreement, modifying the award to simple interest at 18% per annum from the date of the award.
28 Jul 2015The petitioner, Hindustan Petroleum Corporation Limited (HPCL), challenged an arbitral award dated 21 February 2012 under Section 34 of the Arbitratio...
