High Court of Bombay at Nagpur Partly Allows Appeal by Employer in Arbitration Matter — Reduces Interest Rate from 18% to 12% per annum. The court upheld the arbitral award on merits but modified the interest component, holding that 18% interest was excessive under Section 29 of the Arbitration Act, 1940.
8 May 2015The appellants, Central Mine Planning & Design Institute Ltd., a Union of India undertaking, had invited tenders for construction work. The respondent...




