thus arrived at as under:
Basic interest rate for the credit LIBOR+400 basis points
rating of the AE
Add: Transaction Cost 300 basis points ... Rate LIBOR + 700 basis points
Add: Adjustment for security Not computed
Final CUP Rate > LIBOR + 700 basis points
As the currency in which
fixed keeping in mind the
London Inter-Bank Offered Rate (in short LIBOR).
(xvi) As regards rejection of counter claims, the arguments advanced on
merits ... discretion of the arbitral Tribunal to award interest was not
circumscribed by LIBOR. In support of this submission, reliance was
placed on a judgment
years carrying interest @ 8% P.A. On Rupee Term Loan
(RTL) and @ LIBOR on Foreign Currency Loan (FCL) loan
from company‟s internal accruals ... therefore, suggested that interest on FCL could be paid at
LIBOR+1%....The representative of the secured creditors agreed
with the OA‟s suggestion
Jain, who appears for the petitioner, says that the interest @
1% plus LIBOR is charged only when remittance is made.
3. On the other hand ... that the
two transactions are different. According to them, interest @ 1%
plus LIBOR is charged as and when Packing Credit in Foreign
Currency (PCFC) facility
hearing, a suggestion was made
to apply Interest in accordance with LIBOR plus a
margin (between 1 to 3%).
2 IOC v. Lloyds Steel Industries ... Ahmed AIR 2007 SC 829
14
LIBOR is an average interest rate calculated from
time to time, based on inputs given by major banks
claim for pendente lite interest [issue (t)], the Tribunal
awarded SAIL the LIBOR interest rate
General Electric Inc. Canada & Anr vs National Hydroelectric Power ... on 18 May, 2010
Author
appropriate to consider mark up on the basis of average speed
over LIBOR charged in France rather than adopting mark up on the
basis ... average spread over LIBOR charged in whole European
region. The average spread charged in France out of analysis carried
out by TPO himself
petitioner that
interest ought to have been awarded on the basis of libor in respect of
the claims awarded in USD was concerned, learned counsel ... that the interest
should have been given on the basis of libor and not at the rate of 12%
per annum.
32. Insofar
rate(PLR). Similarly, with regard to the
Foreign Currency Loan, six months LIBOR rate has been taken for
calculating loss of interest. It is also ... basis of the following formula:
NPV discounted at prevailing six month LIBOR,
and interest differential by applying = lending rate
LESS prevailing six month LIBOR.
NPV1
