Ennore Port Limited vs M/S H.C.C. Van Oord Acz Joint Venture on 20 September, 2013
12. The judgment of the Hon'ble Apex Court was quoted with approval in a subsequent pronouncement in MSK PROJECTS INDIA (JV) LTD. VS. STATE OF RAJASTHAN AND ANOTHER (cited supra). In the said judgment, the Hon'ble Supreme Court, after quoting the earlier decision, was pleased to fix the interest payable at 10% under Section 31(7)(b) of the Act. Therefore, applying the said ratio, we are of the view that the order passed by the Arbitral Tribunal as confirmed by the learned single Judge, would require a modification to the effect that instead of 15% interest awarded, it should be 10% per annum.