By Delhi High Court
Gati announced that the Delhi High Court has pronounced an order in favor of the Company on Air India's Application under Section 34 of the Arbitration & Conciliation Act,1996 and uphead the award of the Arbitral Tribunal, except for claim for damages.It was in May 2007 that Gati had partnered with Air India for dedicated freighter services. Due to certain dispute the service had to be discontinued from March 2009. The matter was referred to Arbitration.
The said Arbitration Tribunal has passed its award on 17 September 2013, directing Air India to pay a net sum of Rs 26.82 crore towards claims, damages, interest and costs. Also the Arbitral Tribunal had said that in the event of Air India failing to comply with the Award within 30 days from the date of the Award, Air India shall be liable to pay interest @18% p.a. thereafter.
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