Article 142 invoked to reduce interest rate awarded by Arbitral Tribunal

Executive Engineer Vs Gokul Chandra Kanungo (Supreme Court of India) Conclusion: In present case, the Hon’ble Supreme Court invoked the provision of Article 142 of the Constitution of India and reduced the rate of Interest awarded by the arbitral tribunal by considering the fact that the long duration has been passed since filing of the claim. Facts: In present facts of the case, the Respondent was awarded the contract for construction of 3 kilometers on 16.12.1971. The work was to be completed within one year that is before 15th December 1972. However, the work completed only on 30th August...