Tribunal ought not to have awarded anything in excess of the LIBOR
rate since the award is in foreign currency.
8] Section ... currency, the arbitral tribunal ought to have awarded no more than the
LIBOR rate. LIBOR does not circumscribe the discretion of the tribunal.
Senior Counsel
EXCHANGE MANAGEMENT ACT,
1999.
(a) US Dollars 47,487 with interest at Libor Rate prevailing on the
date of the Award + 3% from 20.09.2012 till ... date of
payment;
(b) US Dollars 30,614 with interest at Libor Rate prevailing on the
date of the Award + 3% from 20.11.2012 till
EXCHANGE MANAGEMENT ACT,
1999.
(a) US Dollars 47,487 with interest at Libor Rate prevailing on the
date of the Award + 3% from 20.09.2012 till ... date of
payment;
(b) US Dollars 30,614 with interest at Libor Rate prevailing on the
date of the Award + 3% from 20.11.2012 till
interest. The suggestion before the court was that
interest in accordance with LIBOR rate plus a reasonable margin (between
1% to 3%) could only have ... made applicable for the INR component of the award and LIBOR
+ 3 percentage points was ordered on the Euro component of the award
annum and during the said period AE had borrowed at the rate LIBOR
+ 0.83% for term loan for working capital purpose. Thus, if it could ... have borrowed at the said rate, the prevailing LIBOR rates were
ranging from 5.3% and effective rate of borrowing was @ 6.13% for
term loan
Great Pacific Navigation (Holdings vs M.V. Tongli Yantai on 12 July, 2011
Author: S
thereon at the rate of six-month London Inter Bank Offer Rate (LIBOR) plus 3.665 percentage points per annum on the reducing balance from
together with further simple interest at the rate of 3-M LIBOR + 3.00%
per annum from 1st November, 2017 till payment or realisation
Altus Uber Imo No. 9385300 vs Siem Offshore Rederi As on 23 July, 2019
Equivalent
Rupees.... The
arbitrators, therefore, considered interest rates in India and not LIBOR rate
and accordingly, determined 12 per cent per annum to be a reasonable
