ONGC says arbitrators overcharging; urges SC to fix uniform fees
New Delhi: State-owned energy conglomerate ONGC, through Attorney General for India KK Venugopal, on Tuesday urged the Supreme Court to fix uniform fees for arbitrators in India on the ground that in some recent instances they had asked for too much after agreeing to the payment schedule under the 1996 Act.
The Arbitration Act has a cap of ₹30 lakh on arbitration fees to be charged in a single matter.
