Direction by UP Govt. to Display Name of Shop Owners During Kanwar Yatra Challenged in SC  ||  Del. HC: DDA Criticized for Not Taking Measures for Beautification of District Park  ||  Order Holding that Watching Child Porn Isn’t an Offence, Recalled by Karnataka HC  ||  Uttarakhand HC: Can’t Hold Husband Guilty for Unnatural Sex Under Section 377 of IPC  ||  Cal. HC: Applications Related to ICA Can be Entertained by Single Judge of Commercial Division  ||  Bom. HC: Stock Broker Can’t be Booked for Duping Shareholders Only for Forwarding Whatsapp Messages  ||  Del. HC: PIL Seeking Removal of Videos of Women and Minor on YouTube, Refused  ||  Del. HC: PIL Seeking Removal of Videos of Women and Minor on YouTube, Refused  ||  Del. HC: Delhi Govt. Directed to Implement Hybrid Courts Project on Priority Basis  ||  SC: Dispute regarding Discharge of Contract is Arbitrable as per Arbitration Agreement    

Union of India (UOI) v. Ambica Construction - (Supreme Court) (16 Mar 2016)

Contract must explicitly bar pendente lite interest to prevent arbitral award

MANU/SC/0309/2016

Arbitration

An Arbitrator cannot award interest pendente lite if the same is barred expressly by contract. The Supreme Court distinguished an explicit contractual provision such as this from a bar to award interest on delayed payment, which by itself would not preclude the Arbitrator’s authority. It added, “award of pendente lite interest inter alia must depend upon the overall intention of the agreement and what is expressly excluded.”

Relevant : State of Orissa v. B.N. Agarwalla MANU/SC/0204/1997 Tehri Hydro Development Corporation Limited and Anr. v. Jai Prakash Associates Limited MANU/SC/0806/2012 Section 31 Arbitration and Conciliation Act, 1996

Tags : ARBITRATION   INTEREST   AWARD   PENDENTE LITE  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved