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SUPREME COURT
S. R. Sen, U. B. Sarma, JJ
G & T BecField Drilling Services (P) Ltd. – Appellant
Versus
Oil & Natural Gas Corporation Ltd. – Respondent
| Table of Content |
|---|
| 1. background of the appeal regarding arbitral award and its challenges. (Para 1 , 1 , 2 , 3 , 4 , 5) |
| 2. parties' arguments on the legality of interest awarded. (Para 8 , 9) |
| 3. court's observations regarding the arbitral tribunal's power and contractual language. (Para 10 , 12 , 14 , 16 , 24) |
| 4. principle that mere bar on delayed payment does not deny pendente lite interest. (Para 19 , 25) |
| 5. conclusion affirming the arbitral award's lawfulness. (Para 26) |
1. Leave granted. This appeal arises from a judgment and order of the Gauhati High Court (The High Court) dated 08/03/2019, whereby the appeal (i.e., Arb. A 3/2007) of the respondent, under S.37 of the Arbitration and Conciliation Act, 1996 (1996 Act), was allowed, the judgment and order of the District Judge, Sivasagar, dated 15/11/2007, in Misc. Arb Case No.26 of 2005, under S.34 of 1996 Act, was set aside and the arbitral award dated 21/11/2004 was affirmed.
FACTS
2. Facts relevant for deciding this appeal are that the appellant suffered an arbitral award, dated 21/11/2004, passed by a three member arbitral tribunal, which directed as follows:
"1. Preliminary objection as to maintainability of the present arbitratio
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