Arbitration award challenged u/s 34 of the Arbitration and ...

Contract dispute resolved: Arbitrator's award upheld on establishment expenses and pre-reference interest.

Case Laws Indian Laws

August 27, 2024

Arbitration award challenged u/s 34 of the Arbitration and Conciliation Act, 1996. Arbitrator allowed 3% of contract amount as on-site establishment expenses using Hudson's formula. High Court erred in setting aside award on grounds of non-payment of bills and lack of discussion on interest claim. Supreme Court held High Court's reasoning insufficient for interference u/s 37, restoring award. Pre-reference interest governed by substantive law, not solely Section 31(7)(a). Contract did not prohibit pre-reference interest, so High Court's interference unwarranted. Appeal disposed of, award upheld.

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Arbitration award challenged u/s 34 of the Arbitration and ...

Contract dispute resolved: Arbitrator's award upheld on establishment expenses and pre-reference interest.

Case Laws Indian Laws

August 27, 2024

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