In Brief
The Supreme Court disposed of interlocutory applications arising from an earlier order allowing an appeal against an arbitral award. The Tribunal had improperly awarded Claim No. 8, exceeding its contractual jurisdiction. After setting aside this award and directing repayment of Rs. 70,65,039, the Court directed that interest at 12% per annum (the rate the Tribunal had awarded) be paid on the repaid amount from its original withdrawal date until actual repayment. This ensured the respondent did not retain unjust gains from funds it was never entitled to receive. Payment was to be completed within six weeks.
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