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The Supreme Court on 15 October dismissed a contractor’s appeal challenging the removal of pre-reference and pendente lite interest from an arbitral award. It held that the contract’s residual phrase “or otherwise” created an absolute prohibition under Section 31(7)(a) of the Arbitration and Conciliation Act. The substantive award and post-award interest remained intact because post-award interest is governed separately by Section 31(7)(b).
Judge / Bench — Justice Aravind Kumar and Justice Vipul M. Pancholi. Judgment authored by Justice Vipul M. Pancholi.
Advocates appearing — For the appellant — Siddhartha Dave, Senior Counsel. For the respondent — Shilpi Chowdhary.
Explore topicsCriminal Law