https://www.taxtmi.com/caselaws?id=283783 The Supreme Court upheld the High Court's decision to reduce the amount awarded for escalation by the Arbitrator and declined to interfere. However, the Court disagreed with the reduction of interest by the High Court, restoring the 12% interest initially granted by the Arbitrator. The appellant was entitled to receive the modified award with 12% interest, to be paid within three months. The Court allowed the appeals on the interest issue, with no costs awarded. Additionally, the Court dismissed one special leave petition for lack of merit but granted leave and allowed the appeals in another special leave petition. en-us Mon, 14 Aug 2017 00:00:00 +0530 Fri, 11 Oct 2019 13:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283783 The Supreme Court upheld the High Court's decision to reduce the amount awarded for escalation by the Arbitrator and declined to interfere. However, the Court disagreed with the reduction of interest by the High Court, restoring the 12% interest initially granted by the Arbitrator. The appellant was entitled to receive the modified award with 12% interest, to be paid within three months. The Court allowed the appeals on the interest issue, with no costs awarded. Additionally, the Court dismissed one special leave petition for lack of merit but granted leave and allowed the appeals in another special leave petition. Case-Laws Indian Laws Mon, 14 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283783