https://www.taxtmi.com/caselaws?id=297078 Under a concession agreement, termination payment was to be computed at 90% of debt due, and debt due included principal, accrued interest, finance charges and subordinated debt. Unadjudicated recovery claims could not be unilaterally set off, and the agreement did not authorise the authority to exclude accrued interest or make unsupported equity adjustments. The court also recognised that section 9 of the Arbitration and Conciliation Act permits interim measures to preserve the subject matter and secure enforceable claims, and upheld deposit of the termination amount into escrow subject to an unconditional bank guarantee and arbitral control over encashment. en-us Fri, 27 Oct 2017 00:00:00 +0530 Wed, 18 Aug 2021 09:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297078 Under a concession agreement, termination payment was to be computed at 90% of debt due, and debt due included principal, accrued interest, finance charges and subordinated debt. Unadjudicated recovery claims could not be unilaterally set off, and the agreement did not authorise the authority to exclude accrued interest or make unsupported equity adjustments. The court also recognised that section 9 of the Arbitration and Conciliation Act permits interim measures to preserve the subject matter and secure enforceable claims, and upheld deposit of the termination amount into escrow subject to an unconditional bank guarantee and arbitral control over encashment. Case-Laws Indian Laws Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297078