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SUPREME COURT
P.S. Narasimha, J
G & T BecField Drilling Services (P) Ltd – Appellant
Versus
Oil & Natural Gas Corporation Ltd. – Respondent
| Table of Content |
|---|
| 1. appeal and summary of the judgment. (Para 1 , 1 , 2) |
| 2. details on the initial arbitral award and lower court ruling. (Para 3 , 4 , 5) |
| 3. arguments from both parties on interest awards. (Para 8 , 9) |
| 4. discussion on interest award and relevant legal principles. (Para 10 , 11 , 12) |
| 5. conclusion on the authority concerning interest in arbitration. (Para 20 , 26) |
| 6. final decision on the appeal. (Para 27) |
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 arbitration proceeding raised on behalf of the respondent ONG
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