https://www.taxtmi.com/caselaws?id=108330 A claim for compensation due to exchange rate fluctuation was not barred where the contract contained no specific prohibition and also contemplated disclosure of a foreign exchange component with payment in foreign currency or its equivalent. Because the reference covered disputes arising from the contract, including its construction, the arbitrators were competent to decide whether such compensation could be granted. The court could not reappraise the contractual construction in a non-speaking award merely because another view was possible, and it could take into account the Government circular and the parties' conduct. The award was therefore not liable to be set aside for want of jurisdiction under section 30, though interest was modified. en-us Thu, 09 Oct 2003 00:00:00 +0530 Mon, 20 Apr 2020 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108330 A claim for compensation due to exchange rate fluctuation was not barred where the contract contained no specific prohibition and also contemplated disclosure of a foreign exchange component with payment in foreign currency or its equivalent. Because the reference covered disputes arising from the contract, including its construction, the arbitrators were competent to decide whether such compensation could be granted. The court could not reappraise the contractual construction in a non-speaking award merely because another view was possible, and it could take into account the Government circular and the parties' conduct. The award was therefore not liable to be set aside for want of jurisdiction under section 30, though interest was modified. Case-Laws Indian Laws Thu, 09 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108330