Arbitration Act, 1940–Sec. 31–Award with 15% interest–Court below modified the interest up to 9% per annum from the date of decree–While awarding the interest, the arbitrator has ignored the specific bar of payment of interest in the agreement between the parties–However, this misconduct has been modified by the Court below–Further, the award cannot be faulted on the ground that certain amounts allowed by the arbitrator under the referred heads, were not payable to the contractor as per the contract–No case is made out for interference.
State of Rajasthan, Irrigation Department vs. Ferro Concerete Consturction (India) (P) Ltd.
₹48.00
