Supreme Court of India
Mahesh Lall Seal and Ors. v. Union of India and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that the interest awarded by the Arbitrator at the rate of 15% per annum from the date of acquisition till payment is on the higher side and accordingly we direct payment of interest at the rate of 9% per annum instead of 15% per annum.
Judgment, page 13
From the headnote
Requisition and Acquisition of Immovable Property Act, 1952-Sections 8(/)(a)(b) and I I-Property acquired 12 years after agreement-Payment received by claimants under protest-State Government issuing notification appointing arbitrator-Notification challenged on the ground that there was no referable dispute-Meanwhile award passed by arbitrator-Validity of notification upheld by Single Judge and Division Bench-Award challenged-Subsequent Division Bench holding that findings by earlier Division Bench were tentative and setting aside award on the ground that arbitration proceedings were without
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