Calcutta HC Upholds Arbitral Award Assessing Damages After ‘Reasonable Period’ for Mitigation; Rejects Rigid Application of Date of Breach Rule

The Calcutta High Court has dismissed a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, thereby upholding an arbitral award in favour of The Jute Corporation of India Ltd. The Court ruled that an arbitrator’s decision to assess damages based on market rates prevailing four months after the termination of a

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