Delhi High Court Rejects RattanIndia Power Plea Against Interim Arbitral Award

The Delhi High Court has rejected RattanIndia Power Ltd.'s petition against an interim arbitral award of ₹115 crore in favour of Bharat Heavy Electricals Limited (BHEL). The court affirmed the arbitral tribunal's order, which ordered RattanIndia to pay the amount with 18% interest per annum from July 27, 2017. The legal battle was over a contract for equipment and services supply for RattanIndia's Amravati thermal power plant in Maharashtra.

RattanIndia had challenged the award under Section 34 of the Arbitration and Conciliation Act on the ground that the tribunal had wrongly interpreted business discussion admissions. The court, however, reiterated that evidence admissions can be the basis of an arbitral award and clarified its limited role to interfere in the same. This judgment adds to the finality of arbitration proceedings and supports BHEL's claims.

Source: Economic Times, LiveLaw