https://www.taxtmi.com/caselaws?id=160293 A contractual currency clause limited the fixed exchange rate to the rupee component of the payments, while the foreign-currency component remained separately governed by the contract's payment structure. The corrected award extended the enhanced exchange rate to the rupee payments as well, not merely to interest. For an arbitral award in foreign currency to be converted into a decree capable of execution, the foreign currency amount must be translated into Indian rupees at the rate prevailing on the date of the decree, or the nearest preceding proved date, subject to foreign exchange law. Interest was not payable on rupee claims where the award confined interest to French-franc amounts. en-us Tue, 25 Oct 1983 00:00:00 +0530 Fri, 01 Aug 2014 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160293 A contractual currency clause limited the fixed exchange rate to the rupee component of the payments, while the foreign-currency component remained separately governed by the contract's payment structure. The corrected award extended the enhanced exchange rate to the rupee payments as well, not merely to interest. For an arbitral award in foreign currency to be converted into a decree capable of execution, the foreign currency amount must be translated into Indian rupees at the rate prevailing on the date of the decree, or the nearest preceding proved date, subject to foreign exchange law. Interest was not payable on rupee claims where the award confined interest to French-franc amounts. Case-Laws Companies Law Tue, 25 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160293