https://www.taxtmi.com/article/detailed?id=12970 A foreign arbitral award becomes deemed to be a decree and enforceable when objections under Section 48 are finally disposed of; where no contractual exchange rate applies the appropriate date for converting unpaid foreign currency award balances into Indian rupees is the date the award becomes enforceable. Amounts deposited by the award debtor during pending objections are to be converted on the date of deposit if the award holder can access or benefit from them, and thereafter the converted deposit is adjusted against the remaining principal and interest converted as of the enforceability date. en-us Sat, 28 Sep 2024 14:03:05 +0530 Sat, 28 Sep 2024 14:03:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12970 A foreign arbitral award becomes deemed to be a decree and enforceable when objections under Section 48 are finally disposed of; where no contractual exchange rate applies the appropriate date for converting unpaid foreign currency award balances into Indian rupees is the date the award becomes enforceable. Amounts deposited by the award debtor during pending objections are to be converted on the date of deposit if the award holder can access or benefit from them, and thereafter the converted deposit is adjusted against the remaining principal and interest converted as of the enforceability date. Articles Other Topics Sat, 28 Sep 2024 14:03:05 +0530 https://www.taxtmi.com/article/detailed?id=12970