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1 - 7 of 7 (1.72 seconds)The Arbitration And Conciliation Act, 1996
Section 81 in The Arbitration And Conciliation Act, 1996 [Entire Act]
Reliance Cellulose Products Ltd. vs Oil And Natural Gas Corporation Ltd. on 20 July, 2018
In Reliance Cellulose Products Ltd v. Oil and Natural Gas
Corporation Limited3, the Supreme Court had set aside the order passed
by the High Court reducing the rate of interest from 18% to 10%. The
Court had reiterated that the decision to award interest falls within the
Arbitral Tribunal's discretion and unless it is found that the said
discretion was exercised perversely, the interest rate could not be
reduced. Accordingly, the Supreme Court upheld the pre-reference and
pendente lite interest at the rate of 18% per annum as awarded by the
Arbitral Tribunal.
The Project Director National Highways ... vs M. Hakeem on 20 July, 2021
54. It is also relevant to refer to the decision of the Supreme Court in
Project Director, National Highways No. 45 E and 220 National
Highways Authority of India v. M. Hakeem: (2021) 9 SCC 1. In the
said decision, the Supreme Court had explained that the scope of
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(2018) 9 SCC 266
Signature Not Verified
Digitally Signed
By:DUSHYANT FAO(OS)(COMM) No.348/2019 Page 30 of 31
RAWAL
Signing Date:01.05.2024
Section 34 of the A&C Act does not entail re-adjudication of the
disputes and therefore, the arbitral award cannot be modified. The
examination under Section 34 of the A&C Act is limited to considering
whether the arbitral award is liable to be set aside on the specified
grounds. In the present case, as is apparent from the above, the learned
Single Judge has modified the impugned award, which is not
permissible.
Section 75 in The Arbitration And Conciliation Act, 1996 [Entire Act]
Section 62 in The Indian Contract Act, 1872 [Entire Act]
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