Back
NEENA BANSAL KRISHNA
Modi Construction Company – Appellant
Versus
Ircon International Limited – Respondent
JUDGMENT
1. In the aforesaid Petitions under Section 34 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the A & C Act, 1996) has been filed to challenge the Award dated 18.11.2020 with corrections made on 12.12.2020 passed by the Majority Arbitral Tribunal.
2. The facts in brief are that Government of Andhra Pradesh awarded a contract for the project `Widening and Strengthening of the Warangal-Karimnagar-Raiputnam Road (APSH 1)' to the respondent. The respondent in turn divided the project into two parts: first section from Warangal to Karimnagar (km 06.00 to 66.00) denoted as APSH-1(a) and other from Karimnagar to Raiputnam (km 164.00 to 219.10) denoted as APSH-1(b). For the execution of the contract and works connected to the project, the respondent awarded several contracts to other agencies. The entire work of APSH-1 (a) was entrusted to the petitioner through two contracts, the breakup being, the first one for the widening and strengthening of the Road (excluding Bill No.5 - Bitumen Work & Bill No.8 - Road Furniture) dated 05.05.1998 and the second one for the asphalting work involved dated 29.08.1998. After entering into above two Contract Agreements
The court emphasized the limited scope of interference under Section 34 of the A & C Act, 1996 and the principle that the court should not substitute its reasoning for that of the Arbitrators, especi....
The main legal point established in the judgment is the limited scope for interference with arbitral awards under the Arbitration and Conciliation Act, 1996, and the discretion of the Arbitrator in a....
Section 31(7)(a) of Act deals with grant of pre-award interest.
The Court held that the learned Arbitrator had erred in decreeing the award with respect to the rate of interest, and hence, the Award qua issue no. 20 with regards to the rate of interest is liable ....
The Arbitral Tribunal's authority to award interest is governed by the arbitration agreement, with specific provisions for pre-award and post-award interest under the Arbitration Act.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
