Quashing Section 34 Order on Grounds of Interest Reduction as Modification of Original Arbitration Award: Allahabad High Court

In a significant legal development, Sushil Kumar Mishra, the claimant/award holder, has filed an appeal challenging the modification of the interest rate awarded in a case under Section 37 of the Arbitration and Conciliation Act, 1996. The appeal, numbered 874 of 2023, was heard in Court No. 1 by the Hon'ble Shekhar B. Saraf, J. Background: The appeal arises from an order passed by the District Judge, Kaushambi, on January…