Fri. Nov 27th, 2020

Unity Infraproject Ltd. vs Aim Construction Co. on 4 May, 2018

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1. The petitioner has filed the present petition under Section 34 of
the Arbitration and Conciliation Act, 1996 (hereafter „the Act‟), inter
alia, impugning the arbitral award dated 16.09.2015 (hereafter „the
impugned award‟) rendered by the Arbitral Tribunal constituted of a
sole arbitrator. By the impugned award, the Arbitral Tribunal has
awarded a sum of ₹53,90,816/- alongwith interest at the rate of 12%
per annum from 01.03.2012 till the date of the impugned award and
further future interest at the rate of 18% per annum if the awarded
amounts are not paid within a period of thirty days of the impugned
award.

O.M.P.(COMM.) 14/2016 Page 1 of 8
Source: Indian Kanoon

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