Nhpc Ltd vs M/S Jai Prakash Associates Ltd

The Supreme Court addressed the appeal concerning the rate of interest awarded by the High Court on an arbitral award under the Arbitration and Conciliation Act, 1996. The Court held that the High Court erroneously modified the interest rates from 10% and 12% to 12% and 18%, which was deemed a typographical error rather than a substantive change. Consequently, the Court restored the original interest rates as awarded by the Arbitral Tribunal, affirming the decision of the Additional District Judge under Section 34 of the Arbitration and Conciliation Act, 1996.