Paris, France, and the remaining 20% in Indian
rupees using a fixed conversion rate of FF. 1.033=Re. 1.000.
Art IX-3.2 provided that certain ... devalued in June 1966 and consequently Forasol made a claim
for conversion of Indian rupees into French
527
Francs at a rate higher than
applied? Whether the same should be calculated on the basis of
conversion rate on the date of the award or on the date of dismissal ... decision would govern
the rate of exchange that should be adopted for conversion. He relied upon
paragraphs
currency to
Indian rupees. Second, what would be the date of such conversion,
when the award debtor deposits some amount before the court
during ... date when the arbitral
award becomes enforceable shall be the date for conversion. Under
the Arbitration and Conciliation Act, 19962 this date is when
dismissed on
30.10.2018. Hence, it was claimed in the revised statement that,
conversion rate has to be reckoned as on the date when this Court ... original award
did not specify any rate of interest or provision for conversion. It was
contended that, in the absence of any specific rate
comparison is required with regard to a domestic industry in respect of
conversion of currencies, such conversion should be made using the rate of
exchange ... injurious
price would be a relevant factor, there can be a conversion to USD as per the
rate of exchange that may prevail on such
learned Single Judge had not specified the rate of exchange
for conversion of the decretal amount expressed in U.S.
dollars to Indian rupees ... Court in Forasol v. ONGC4 they have directed that
the date of conversion of decretal amount which is in U.S.
dollars to Indian rupees
Union Of India vs Vkc Footsteps India Pvt. Ltd. on 13 September, 2021
Equivalent citations
appellant/decree holders
calculated on the basis of conversion rate of 11,875.75
Euros as on 24.04.2002 and the interest calculated thereon.
The appellant/decree ... value of the Euros payable should
4
have been calculated on the conversion rate applicable on
the date of payment.
10. The District Forum taking
before the specified date as per clause (c) of rule 115, for conversion of the foreign exchange to Indian currency, the petitioners will have ... currency. According to the assessee in that case , since the rate of conversion from Ceylon currency to Indian currency was not mentioned in the said
company in the United States of America such information relating to the conversion of PVC and related materials into finished articles and products, together with ... rate of exchange quoted by the Reserve Bank of India for the conversion of Indian rupees to U.S. dollars on the date on which
