https://www.taxtmi.com/caselaws?id=457979 HC dismissed challenge to arbitration award under Section 34 of Arbitration and Conciliation Act. Borrowers disputed 24% interest rate, arguing only 12% simple interest was payable. Court held arbitrator properly adjudicated all factual aspects and contractual terms. The 24% interest rate was agreed contracted rate requiring no interference. Fraud allegations were already considered by arbitrator. Section 34(2) grounds are narrow and don't permit re-appreciation of evidence. Award confirmed for interest from claim date to award date. en-us Thu, 16 Nov 2017 00:00:00 +0530 Tue, 01 Oct 2024 20:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457979 HC dismissed challenge to arbitration award under Section 34 of Arbitration and Conciliation Act. Borrowers disputed 24% interest rate, arguing only 12% simple interest was payable. Court held arbitrator properly adjudicated all factual aspects and contractual terms. The 24% interest rate was agreed contracted rate requiring no interference. Fraud allegations were already considered by arbitrator. Section 34(2) grounds are narrow and don't permit re-appreciation of evidence. Award confirmed for interest from claim date to award date. Case-Laws Indian Laws Thu, 16 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457979