Saturday, June 13, 2026
Latest:
2026ArbitrationHigh CourtJune 2026LatestLegal

Arbitral Award for Interest at 18% at pre, pendente lite & post-arbitration

legaldeli

On the facet of interest, the grant of interest at 18% compounded at quarterly rests is squarely in conflict with the calibrated bargain entered into by the parties in the Agreement. That apart, there was no scope to regard the parties as having agreed for compounding of interest at quarterly rests, and the attempt to justify it by reference to the interest burden borne by KTIPL with its lenders, nudges the award of interest from the realm of interest to the realm of assessment of damages;

, interference with the Impugned Award is warranted because of the manner of grant of pendente lite as well as post-award interest at the rate of 18% compounded quarterly. However, such interference can be eminently restricted to just the element of award of interest without disturbing the rest of the Impugned Award. Therefore, deploying the principles of law declared in Gayatri Balasamy, it would only be appropriate to restrict the intervention to quashing and setting aside the facet of grant of interest as made in the Impugned Award

Judgment dated 12.6.2026 of the High Court of Bombay in Arbitration Petition NO.262 of 2024 of Public Works Department Got of Maharashtra National Highways  Vs. Khare and Tarkunde Infrastructure Pvt Ltd with connected matters.

You May Also Like

Bombay HC – Limits of Interference by University Tribunal in Disciplinary Penalty and Findings of Enquiry Officer

legaldeli

Delhi HC Upholds Arbitral Award – Liquidated Damages Require Delay Attribution Proof & Verification – Clause 27 of the Contract of IRCON and AFCONS

legaldeli

Arrest – Grounds given to the father who made complaint against the accused

legaldeli

Leave a Reply

Your email address will not be published. Required fields are marked *

I HAVE READ THE DISCLAIMER AND AGREE TO IT.

User Acknowledgement

By proceeding further and clicking on the "AGREE" button herein below, I acknowledge that I of my own accord wish to know more about LegalDeli for my own information and use. I further acknowledge that there has been no solicitation, invitation or inducement of any sort whatsoever from LegalDeli or any of its members to create an Attorney-Client relationship through this knowledge site. I further acknowledge having read and understood the Disclaimer below.

Disclaimer
About: This knowledge-site (www.LegalDeli.in) is owned and operated by LegalDeli (“LD”), and is a resource for your informational and educational purposes only.

No Warranty: LD does not warrant that any content or information contained on this knowledge-site is accurate, correct, complete or up-to-date, and hereby disclaims any and all liability to any person for any actual or threatened loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or otherwise. LD assumes no liability for the interpretation and/or use of the content and/or information contained on this knowledge-site, nor does it offer any warranty of any kind, either expressed or implied in relation to such content or information.

Third-Party Links: LD does not intend that links / URLs contained on this knowledge-site re-directing users to third party websites be considered as referrals to, endorsements of, or affiliations with any such third party website operators. LD is not responsible for, and makes no representations or warranties, express or implied, about the content or information contained on such third party websites to which links may be provided on this knowledge-site.

No Legal Advice: By clicking ‘I agree’ and proceeding further, you acknowledge, represent and undertake that you on your own accord wish to know more about LD, its capabilities and research content and information contained on the knowledge-site, for your own knowledge and personal use. The content and information contained on this knowledge-site should not be construed as nor relied upon as legal advice. You as a reader or recipient of content or information contained in this knowledge-site should not act, nor refrain from acting, based upon any or all of such content or information, but should always seek the advice of competent legal counsel licensed to practice the relevant law in the appropriate jurisdiction.

No Attorney-Client Relationship: This knowledge-site is not intended to be and you should not consider the content or information contained therein to be an advertisement, solicitation, inducement or invitation for an Attorney-Client relationship. Transmission, receipt or use of this knowledge-site, including content and information contained therein, does not constitute nor create an Attorney-Client relationship between LD and you.

I Agree