Landmark Supreme Court of India rulings, explained in clear, plain language.
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Can arbitrators rewrite contract terms while granting specific performance of an agreement?
Shreeram Builders vs. Upendra Kantilal Thanawala and others
The Supreme Court set aside the arbitral award granting specific performance because the majority arbitrators rewrote the contract terms rather than applying them, violating Section 28(3) of the Arbitration and Conciliation Act, 1996, and directed the landowners to refund amounts received with 9% simple interest.
Can a residuary no-interest clause in a contract bar arbitral pre-award interest?
MS Sharma Enterprises vs National Building Construction Corporation
The Supreme Court dismissed the appeal, holding that the residuary phrase 'or otherwise' in Clause 26 of the contract barred the arbitrator from awarding pre-reference and pendente lite interest under Section 31(7)(a) of the Arbitration and Conciliation Act, 1996.
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