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State Trading Corporation Of India Ltd vs Finnpap on 6 August, 2024

Author: Bela M. Trivedi

Bench: Bela M. Trivedi

     ITEM NO.33                           COURT NO.14                      SECTION XIV

                                S U P R E M E C O U R T O F           I N D I A
                                        RECORD OF PROCEEDINGS

              Petition(s) for Special Leave to Appeal (C)              No(s).     15895/2019

     (Arising out of impugned final judgment and order dated 29-10-2018
     in FAO No. 204/2005 passed by the High Court Of Delhi At New Delhi)

     STATE TRADING CORPORATION OF INDIA LTD                                Petitioner(s)

                                                  VERSUS

     FINNPAP                                                               Respondent(s)

     (IA No. 113220/2022 - EX-PARTE STAY)

     Date : 06-08-2024 These matters were called on for hearing today.

     CORAM :
                         HON'BLE MS. JUSTICE BELA M. TRIVEDI
                         HON'BLE MR. JUSTICE SATISH CHANDRA SHARMA

     For Petitioner(s)             Mr. Rakesh Tiku, Sr. Adv.
                                   Mr. Danish Zubair Khan, AOR
                                   Ms. Arpan Wadhawan, Adv.

     For Respondent(s)             Mr. Ramesh Singh, Sr. Adv.
                                   Ms. Bharti Bdsera, Adv.
                                   Mr. Gautam Khaitan, Adv.
                                   Mr. Birendar Bhatt, Adv.
                                   Ms. Shivleen Pasricha, Adv.
                                   Mrs. Bina Gupta, AOR

                         UPON hearing the counsel the Court made the following
                                            O R D E R

1. Heard learned senior counsels for the parties.

2. Leave granted on the issue whether the Arbitrators could have awarded 18% interest on the Award amount of US$1,30,681.52 or the interest could have been as per the (London Interbank Offer Rate) LIBOR rates only.

              (NISHA KHULBEY)                                       (MAMTA RAWAT)
         SENIOR PERSONAL ASSISTANT                               COURT MASTER (NSH)