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2017 (8) TMI 1580

..... is concerned, the learned Arbitrator had awarded ₹ 1,20,000/-. The High Court has set it aside - the reasoning ascribed by the High Court is absolutely justified and there is no reason to interfere. Reduction of interest - HELD THAT:- There is no warrant for reduction of interest. Accordingly, the interest granted by the learned Arbitrator is restored. The appellant shall be entitled to 12% .....

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..... Court is that the amount awarded with regard to escalation by the learned Arbitrator should not have been reduced and further there should not have been reduction of interest. Be it noted, the learned Arbitrator had awarded 12% interest, whereas the High Court has reduced it to 9%. As far as escalation is concerned, the learned Arbitrator had awarded ₹ 1,20,000/- (Rupees one lakh twenty thou .....

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