Bombay High Court Partially Sets Aside Arbitral Award in Leave and Licence Dispute — Interest on Security Deposit for Delay Period Not Payable as Liquidated Damages Without Proof of Loss. The court modified the award to limit interest to the actual delay period at the contractual rate, holding that the arbitrator's award of interest for the entire period including post-possession was contrary to the agreement and Section 74 of the Indian Contract Act, 1872.
11 Feb 2019The case involves a challenge under Section 34 of the Arbitration and Conciliation Act, 1996, to an arbitral award passed by a sole arbitrator in a di...
