[This guest post is authored by Saurish Shetye. Saurish is an advocate practicing at the Bombay High Court. He can be reached at firstname.lastname@example.org] SEAMEC v. OIL: Supreme Court on Power to Examine the Plausibility of Arbitral Tribunal’s Interpretation of Contract In its recent decision, dated 11 May 2020, the Supreme Court in South East … Continue reading SEAMEC v. OIL: Supreme Court on Power to Examine Plausibility of Arbitral Tribunal’s Interpretation of Contract
Disputes arose between Vedanta and Shenzen Shedong under four EPC contracts; each providing for arbitration seated in Mumbai governed by Indian law. While Shenzen sought damages in US Dollars, Euros and Indian Rupees, the tribunal allowed only the latter two. The tribunal also awarded a 9% uniform interest on the decretal amount, calculated from the … Continue reading Supreme Court’s Modification of Dual Interest Rate in India-seated ICA Award: An Unwarranted Interference?