https://www.taxtmi.com/caselaws?id=444263 The contract and arbitral award provided for payment only in Iraqi Dinars and US Dollars, and the agreement specified conversion solely between those foreign currencies. The award also contemplated payment in foreign currency, and the earlier judgment made the award's directions controlling. On that basis, there was no contractual or adjudicatory foundation to convert the awarded amount into Indian Rupees or to fix any conversion date. The operative principle is that a court cannot impose a rupee conversion mechanism where the contract and award authorise only foreign-currency payment. en-us Tue, 10 Oct 2023 00:00:00 +0530 Thu, 12 Oct 2023 10:29:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444263 The contract and arbitral award provided for payment only in Iraqi Dinars and US Dollars, and the agreement specified conversion solely between those foreign currencies. The award also contemplated payment in foreign currency, and the earlier judgment made the award's directions controlling. On that basis, there was no contractual or adjudicatory foundation to convert the awarded amount into Indian Rupees or to fix any conversion date. The operative principle is that a court cannot impose a rupee conversion mechanism where the contract and award authorise only foreign-currency payment. Case-Laws Indian Laws Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444263