https://www.taxtmi.com/caselaws?id=283781 A non-speaking arbitral award under the Arbitration Act, 1940 can be interfered with only on the limited statutory grounds for setting it aside, and the absence of reasons by itself does not justify reappraisal of the merits. Clauses treating cancellation or departmental valuation as final cannot defeat arbitral adjudication where the claims arise from wrongful cancellation and related damages; the restoration of the challenged award portions on Claims 2(K) and 2(M) followed on that basis. The reduction of interest to 9% per annum was also upheld as consistent with the governing approach to pendente lite and future interest. en-us Thu, 25 Feb 2016 00:00:00 +0530 Fri, 11 Oct 2019 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283781 A non-speaking arbitral award under the Arbitration Act, 1940 can be interfered with only on the limited statutory grounds for setting it aside, and the absence of reasons by itself does not justify reappraisal of the merits. Clauses treating cancellation or departmental valuation as final cannot defeat arbitral adjudication where the claims arise from wrongful cancellation and related damages; the restoration of the challenged award portions on Claims 2(K) and 2(M) followed on that basis. The reduction of interest to 9% per annum was also upheld as consistent with the governing approach to pendente lite and future interest. Case-Laws Indian Laws Thu, 25 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283781