Bombay High Court Partially Upholds Setting Aside of Arbitral Award for Overhead Losses and Loss of Profit Claims Based on Hudson's Formula Without Proof of Actual Loss. The court held that an arbitral award granting overhead losses and loss of profit without evidence of actual loss is patently illegal and contrary to public policy under Section 34 of the Arbitration and Conciliation Act, 1996.
3 Jan 2013The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, against a judgment of a Learned Single Judge dated 11 Nove...
