Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Interest On Awarded Amount Cannot Exceed Rate Of 6% As Provided U/S 30(7) Of J&K Arbitration Act: High Court
Alternate Dispute ResolutionCivil Law
The Jammu & Kashmir and Ladakh High Court ruled that interest on an arbitration award cannot exceed 6% as per Section 30(7) of the J&K Arbitration Act. The judgment arose from a dispute over excessive interest claims, with the court emphasizing the statutory ceiling to prevent unjust enrichment. This decision ensures fairness in arbitration awards by aligning interest rates with legal provisions.
