M/S Gautam Constructions And Fisheries ... vs National Bank For Agriculture & Rural ...

The Supreme Court addressed the arbitration dispute between M/s Gautam Construction & Fisheries Ltd. and the National Bank for Agriculture and Rural Development regarding the payment for a basement parking area. The Court upheld the Arbitrator's award allowing payment at Rs.400/- per sq. ft. for the basement area, affirming the interest rate of 18% per annum from the date of the final bill submission. The Court dismissed the bank's counterclaims, reinforcing the binding nature of the arbitration agreement and the award.