2017 (8) TMI 1580

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..... ed ₹ 1,20,000/-. The High Court has set it aside - the reasoning ascribed by the High Court is absolutely justified and there is no reason to interfere. Reduction of interest - HELD THAT:- There is no warrant for reduction of interest. Accordingly, the interest granted by the learned Arbitrator is restored. The appellant shall be entitled to 12% interest on the modified award of the High .....

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..... h regard to the judgment passed by the High Court is that the amount awarded with regard to escalation by the learned Arbitrator should not have been reduced and further there should not have been reduction of interest. Be it noted, the learned Arbitrator had awarded 12% interest, whereas the High Court has reduced it to 9%. As far as escalation is concerned, the learned Arbitrator had awarded  .....

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..... 6786-16787/2016 ORDER S.L.P.(C) No.28616 of 2016 Heard Mr. Maninder Singh, learned Additional Solicitor General for the appellant and the respondent in-person. We do not find any merit in this special leave petition and it is, accordingly, dismissed. S.L.P.(C) Nos.16786-16787 of 2016 Leave granted. The appeals are allowed in term .....

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