Partly allowed
Union of India and Ors. through Principal Chief Commercial Manager v. Kishan Freight Forwarders
Bombay HCARBP/766/2018
Case brief
AI extract
What is this about?
The Court disposed of an arbitration petition challenging the interest rate in an arbitral award. Upon admission, the impugned award was varied by reducing the interest rate from 18% to 12% per annum.
What did the court decide?
The impugned award dated 28 March 2018 was varied by reducing the rate of interest from 18% per annum to 12% per annum.