Arbitral Tribunal's Award of Exorbitant Interest Does Not Violate Fundamental Policy of Indian Laws: Delhi High Court

The Delhi High Court, in a recent judgment, addressed a review petition filed by the appellant under Section 37(1)(b) of the Arbitration and Conciliation Act (A&C Act), read with Section 13 of the Commercial Courts Act. The appellant had challenged the imposition of a high interest rate by the arbitral tribunal in a commercial dispute. However, the bench, consisting of Justice Yashwant Varma and Justice Dharmesh Sharma, dismissed the petition,…