https://www.taxtmi.com/caselaws?id=463635 The SC upheld the arbitral award largely, holding the arbitrator rightly declined an unpleaded/unproved counter-claim or set-off and that a second reference was maintainable where additional claims arose after the final bill. Because the contractual bar on interest (Clause 23) was never pleaded or proved before the arbitrator or courts, the Court refused to decide its substantive effect and would not set aside the award on that ground. Exercising equitable discretion, the SC reduced the interest to 6% p.a. for specified periods, dismissed enhancement claims, and directed parties to bear their own costs. en-us Tue, 27 Nov 2001 00:00:00 +0530 Wed, 10 Sep 2025 15:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463635 The SC upheld the arbitral award largely, holding the arbitrator rightly declined an unpleaded/unproved counter-claim or set-off and that a second reference was maintainable where additional claims arose after the final bill. Because the contractual bar on interest (Clause 23) was never pleaded or proved before the arbitrator or courts, the Court refused to decide its substantive effect and would not set aside the award on that ground. Exercising equitable discretion, the SC reduced the interest to 6% p.a. for specified periods, dismissed enhancement claims, and directed parties to bear their own costs. Case-Laws Indian Laws Tue, 27 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463635