This judgment is about the Delhi High Court partly setting aside an international commercial arbitration award only to the extent it granted interest on a performance bank guarantee, despite the contract expressly barring such interest.

Case Snapshot

• Case Name: MMTC Limited v. Aust Grain Exports Pty Ltd

• Citation / Neutral Citation: FAO(OS) (COMM) 210/2023; CNR No. DLHC010375712023; 2026:DHC:9459-DB

• High Court: High Court of Delhi at New Delhi

• Bench: Hon’ble Mr. Justice Avneesh Jhingan and Hon’ble Ms. Justice Shail Jain

• Date of Judgment: 28.10.2026

• Area of Law: Arbitration & Conciliation Act, 1996 — Sections 34, 37 and 31; International Commercial Arbitration; ICA Rules

Judgment Headline

Delhi High Court Partly Sets Aside International Arbitral Award Granting Interest on PBG

The Judgment in One Line

The Delhi High Court partly allowed MMTC’s Section 37 appeal and set aside only the interest awarded on the performance bank guarantee, holding it contrary to the contract and sever

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