Bombay High Court Partially Sets Aside Arbitral Award in ONGC Contract Dispute Over Pour Point Depressant Supply — Contractor's Claim for Price Revision Rejected, ONGC's Claim for Excess Dosage Compensation Upheld in Part. The court held that the arbitrator's interpretation of the price variation clause was perverse and contrary to the express terms of the contract under Section 30 of the Arbitration Act, 1940, and reduced the interest rate from 18% to 12% per annum.
6 Dec 2012The judgment concerns two arbitration petitions filed under Section 30 of the Arbitration Act, 1940, challenging an arbitral award dated 25th Septembe...




