Supreme Court of India · 2019-09-02
POST GRADUATE INSTITUTE OF MEDICAL EDUCATION AND RESEARCH CHANDIGARH vs M/S KALSI CONSTRUCTION COMPANY
- Citation / case number
- SC 2019/28474
- Court
- Supreme Court of India
- Petitioner
- POST GRADUATE INSTITUTE OF MEDICAL EDUCATION AND RESEARCH CHANDIGARH
- Respondent
- M/S KALSI CONSTRUCTION COMPANY
- Author
- HON'BLE MRS. JUSTICE R. BANUMATHI
- Bench
- HON'BLE MR. JUSTICE A.S. BOPANNA HON'BLE MRS. JUSTICE R. BANUMATHI
Judgment text excerpt
The Supreme Court dismissed the appeal of the Post Graduate Institute of Medical Education and Research against the High Court's affirmation of the Arbitrator's award, which included an interest rate of 18% per annum. The court upheld the Arbitrator's authority under Section 31(7) of the Arbitration and Conciliation Act to award interest. The judgment reinforces the finality of arbitration awards unless there are substantial grounds for interference.