Housing & Urban Development Corpn. Ltd vs Leela Hotels Limited

The Supreme Court upheld the concurrent findings of the Single Judge and the Division Bench regarding the validity of the Arbitrator's Award, dismissing the appeal. The Court reduced the interest rate awarded by the Arbitrator from 20% to 18% for the pre-Award period. Additionally, the Court left the determination of whether the amount deposited by the appellant should be treated as principal or for interest adjustment to the Executing Court, as previously stated in its order dated 1.4.2005.