NDLI: M/s D. Khosla and Company Vs. The Union of India

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Principal amount of compensation awarded Pre-award interest and post-award interest on the principal amount Award of interest Simple interest Interest awarded in two parts Interest on the amount awarded Principal sum Principal amount Amount awarded Compound interest Interest upon interest Principal amount awarded Simple interest on the amount awarded
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Code of Civil Procedure, 1908 (5 of 1908) Interest Act, 1978 (14 of 1978) Arbitration Act, 1940 (10 of 1940)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3
Case Type	Special Leave Petition
Court	Supreme Court of India
Disposal Nature	Others
Headnote	Arbitration Act, 1940 – ss.29, 17 – Interest Act, 1978 – s.3 – Code of Civil Procedure, 1908 – s.34 – Court /Arbitrator if can award compound interest or interest upon interest unless specifically provided under the statute or the terms and conditions of the contract: Held: No – Though, there is no dispute as to the power of the courts to award interest on interest or compound interest in a given case subject to the power conferred under the statutes or under the terms and conditions of the contract but, where no such power is conferred ordinarily, the courts do not award interest on interest – Neither the Act specifically empowers the Arbitrator or the Court to award interest upon interest or compound interest nor there is any other provision which provides for grant of compound interest or interest upon interest – s.34, CPC is also silent in this regard whereas s.3(3) of the Interest Act specifically prohibits the same – In the present case, the award and the decree nowhere awarded 15% interest per annum on the amount awarded including the interest component i.e. the pre-award interest – This could not have been done even otherwise as there is no provision to that effect under the relevant statutes or the contract – The interest awarded under the award in the first part, was simple interest @ 12% per annum on the ‘amount awarded’ whereas in the second part, interest @ 15% per annum was awarded referring to the ‘amount awarded’ – The amount awarded in both the situations referred to the principal amount of compensation awarded i.e. Rs.21,56,745/- and was same and cannot be two distinct amounts – Concurrent judgments of the courts below not interfered with. [Paras 23, 24, 27, 28]
Judge	N/A
Neutral Citation	2024 INSC 113
Petitioner	M/s D. Khosla And Company
Respondent	The Union Of India
SCR	[2024] 8 S.C.R. 113
Judgement Date	2024-08-07
Case Number	812

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