
SC upholds arbitral award against ONGC, says 12 per cent interest valid despite contract clause
New Delhi, Sept 3 (UNI) The Supreme Court dismissed Oil and Natural Gas Corporation’s (ONGC) appeal and upheld a Gauhati High Court judgment affirming an arbitral award in favour of the respondent. A bench comprising Justice PS Narasimha and Justice J Manoj held that the arbitral tribunal was well within its powers to grant pendente…