9 November 2021 | National Highways Authority of India v. JMC Constructions Pvt. Ltd. | OMP (Comm.) 323 of 2021 | Delhi High Court | Vibhu Bakhru J | 2021 SCC OnLine Del 4916
In this application for setting aside, after a perusal of the records and the award, the court found no infirmity with the award.
It was also contended that the interest at the rate of 10.75% on the awarded amount was excessive. The argument was rejected because as reiterated by the Supreme Court in Punjab State Civil Supplies Corporation Limited (PUNSUP) v. Ganpati Rice Mills: SLP (C) 36655 of 2016, decided on 20 October 2021, the tribunal has a wide discretion to award interest under Section 31(7) ACA and “it cannot be interfered with unless the same is found to conflict with the public policy of India or is otherwise patently illegal.”
Read the judgment here.
Categories: Application for Setting Aside Arbitral Award | Award of Interest | Form and Contents of Arbitral Award | Grant of Interest | Hyder Consulting | Interest | Patent Illegality | Post Award Interest | Pre Award Interest | Public Policy of India | Section 31 (7) (a) | Section 31 (7) (b) ACA | Section 31 (7) ACA | Section 31 ACA | Section 34 ACA