Bombay High Court Allows Appeal in Part in Arbitration Award Challenge — Reduces Interest Rate from 18% to 9% per Annum. Section 31(7)(b) of Arbitration and Conciliation Act, 1996 mandates that in absence of contractual stipulation, pendente lite and future interest shall be at 2% higher than current rate of interest.
2 Dec 2022The appellant, M/s Skoda Auto Volkswagen India Private Limited, an automobile manufacturer, appointed the respondent, M/s Commercial Auto Products Pri...
