36% Default Interest Upheld: SC Draws the Line on ‘Public Policy’ Challenges to Commercial Arbitration
Introduction The stability of the Indian arbitration landscape hinged on whether a court could invalidate a contractually agreed-upon interest rate simply because it appeared excessively high. The question of whether an arbitral award is liable to be set aside for granting a high rate of interest in a purely commercial contract specifically, whether such a stipulation amounts to patent illegality […]
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