NAND CONTR.& ENGR.THR.G.D.AHUJA vs NORTHERN COALFIELD LTD.

The Supreme Court addressed the appeals concerning the modification of an arbitrator's award regarding interest on delayed payments under the Arbitration and Conciliation Act, 1996. The Court held that the High Court's reduction of interest from 15% to 10% per annum was unjustified, emphasizing that the arbitrator's award should be upheld unless there are compelling reasons to modify it. The Court reinstated the original interest rate awarded by the arbitrator, thereby allowing the appellant to receive the full amount as per the initial award.