Supreme Court of India
National Projects Construction Corporation Limited v. Royal Construction Company Private Ltd.
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
In view of the aforesaid, we allow the appeals and set aside both the orders passed by the High Court.
Judgment, page 7
From the headnote
Issue for consideration: Whether the arbitration agreement, arbitral award or the judgment of Supreme Court dated 24.02.2015 passed in earlier round of litigation between the parties, provided for payment of the awarded amount in Indian currency. Arbitration – Amount awarded in Iraqi Dinars if was to be converted in Indian currency: Held: Neither the arbitration agreement, arbitral award or the judgment of Supreme Court dated 24.02.2015 permit payment of the awarded amount in Indian currency except the amount of Rs. 20 lacs with admissible interest against the encashment of bank guarantee –
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