This appeal challenged an order denying further reduction in arbitration award interest. The Court dismissed the appeal, holding that the scope of Section 34 interference is limited and further interest reduction was unwarranted.
The appeal was dismissed; no costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 06.06.2018
CORAM
THE HON'BLE MS.INDIRA BANERJEE, CHIEF JUSTICE and THE HON'BLE MS.JUSTICE P.T.ASHA
O.S.A.No.98 of 2018
K.Rajendran .. Appellant/Petitioner
vs.
1.M/s.Tamil Nadu Industrial Development
Corporation Limited (TIDCO),
rep. by its General Manager and Secretary,
19-A, Rukmani Lakshmipathi Road,
Egmore,
Chennai – 600 008.
2.Hon'ble Mr.Justice M.S.Janarthanam,
Judge (Retd.), High Court, Madras
“Anu Villa” Plot No.147,
D.No.4/12, I Floor, III Main Road,
Kamaraj Nagar,
Thiruvanmiyur,
Chennai – 600 041. .. Respondents/Respondents
Appeal filed under Order XXXIV, R2 of Original Side Rules read with Clause 15 of Letters Patent order 37(1) © of Arbitration and Conciliation Act, 1996, against the order and decree dated 14.12.2017 in O.P.No.106 of 2013 on the file of this Court.
For Appellant .. Mr.C.Jagadish For Respondent .. Mr.M.Vijayan for M/s.King & Partridge for 1st respondent
JUDGMENT
(Delivered by Ms.Indira Banerjee, Chief Justice)
This appeal is against a judgment and order dated 14th December 2017 passed by the learned Single Bench disposing of an application filed by the appellant under Section 34 of the Arbitration and Conciliation Act, 1996, hereinafter referred to as “the said Act”, for setting aside an Award dated 22nd August 2012 passed by the Sole Arbitrator Justice M.S.Janarthanam (retired) in an arbitration between the appellant and the Tamil Nadu Industrial Development Corporation Limited (TIDCO) being the respondent.
//True Copy//
Sub Assistant Registrar
bbr
To
The Sub Assistant Registrar, Original Side, High Court, Madras.
+1cc to Mr.S.Senthil Advocate SR.No.35780/18 +1cc to M/s.King & Patridge, Advocate Sr.No.35098/18
VGI(CO) sm:3.7.2018
O.S.A.No.98 of 2018
3 issues framed by the court
Whether the Appellant is entitled to a further reduction in the rate of interest awarded in the arbitral award.
Whether this Court can exercise power to reduce statutory interest rates beyond what the arbitral tribunal awarded.
The scope of interference under Section 34 of the Arbitration and Conciliation Act, 1996 with respect to interest modifications.
1 provisions across 1 enactments
K. Rajendran
Tamil Nadu Industrial Development Corporation Limited
Ms. Indira Banerjee
Ms. P.T. Asha
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
