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Arbitrator Cannot Grant Pre-Award Interest If The Terms Of Agreement Between Parties Prohibit Payment Of Interest: SC [Read Judgment]
Manu Sebastian
4 Oct 2017 6:57 PM IST
Relying on Section 31(7)(a) of Arbitration and Conciliation Act 1996, the Supreme Court held that arbitrator cannot grant interest for the period between the date of cause of action and date of award, if the parties by agreement had resolved that interest shall not be payable. The bench comprising Justice J. Chelameswar and Justice Abdul Nazeer was dealing with an appeal filed against...
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