Arbitration petition challenging an award of interest was admitted and disposed of by reading down the awarded interest rate from 18% to 12% per annum.
Reading down the award by reducing the interest awarded from 18% per annum to 12% per annum.
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arbp770-18.doc
sg
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
ARBITRATION PETITION NO.770 OF 2018
Union of India ...Petitioner
vs M/s. Gousth Enterprises ...Respondent
Mr. Suresh Kumar, a/w. Ms. Priyanka Tiwari, for the Petitioner.
Mr. Mutahhar Khan, a/w. Mr. Amit Chaurasiya, i/b. Mr. Rajesh Gupta, for the Respondent.
Mr. Sheikh Abdul Hamid, Proprietor of Respondent present in person.
CORAM : S.C. GUPTE, J.
DATED: 29 AUGUST 2019
P.C. :
. This arbitration petition challenges award of interest in the impugned award. Learned Counsel for the parties are heard. At their request, the arbitration petition is admitted and taken up for hearing forthwith.
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arbp770-18.doc
Digitally signed Smita by SmitaGonsalves Gonsalves Date: 2019.09.06 11:58:52 +0530
( S.C. GUPTE, J. )
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Union of India
M/s. Gousth Enterprises
S.C. GUPT
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
