Content Provider | Supreme Court of India |
---|---|
e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Interpretation of Grant of interest by arbitral tribunal Arbitration and Conciliation Act 1996 |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Act(s) Referred | Arbitration and Conciliation Act, 1996 (26 of 1996) |
Case(s) Referred | Referred Case 0 |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Others |
Headnote | Arbitration and Conciliation Act, 1996 - s.31(7) - Interpretation of- Grant of interest by arbitral tribunal under - Whether amounts to granting interest on interest- Held: s. 31 (7) can be interpreted to mean that interest which accrues till the date of the Award, be included in the "sum" from the date of Award for calculating the post-award interest- Word sum means 'an amount of money' which may include principal and interest or one of the two - Thus, clause (a) of s.31(7) provides that the Arbitral Tribunal may include interest while making an award for payment of money in the sum for which the Award is made and clause (b) states that the sum so directed to be made by the Award shall carry interest at a certain rate for the post award period - In view thereof, it is clear that interest, the sum directed to be paid by the Arbitral Award under clause (b) of sub-section (7) of Section 31 is inclusive of interest pendent lite. |
Judge | Honble Mr. Justice H.L. Dattu |
Neutral Citation | 2014 INSC 807 |
Petitioner | M/s. Hyder Consulting (uk) Ltd. |
Respondent | Governor, State Of Orissa Through Chief Engineer |
SCR | [2014] 14 S.C.R. 1029 |
Judgement Date | 2014-11-25 |
Case Number | 3148 |
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