Reduction in the rate of interest - disallowance of supervision ...

Indian Laws

November 10, 2021

Reduction in the rate of interest - disallowance of supervision charges - patent illegality ground or not - The failure on the part of the learned Sole Arbitrator to decide in accordance with the terms of the contract governing the parties, would certainly attract the “patent illegality ground”, as the said oversight amounts to gross contravention of Section 28(3) of the 1996 Act, that enjoins the Arbitral Tribunal to take into account the terms of the contract while making an Award. The said ‘patent illegality’ is not only apparent on the face of the Award, it goes to the very root of the matter and deserves interference. - SC

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Reduction in the rate of interest - disallowance of supervision ...

Indian Laws

November 10, 2021

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