Chhattisgarh HC: Father Must Provide Maintenance and Marriage Expenses to Unmarried Adult Daughter  ||  Delhi HC Rules That ‘Hermès’ and the 3D Shape of its ‘Birkin’ Bag are Well-Known Trademarks in India  ||  Kerala HC: Arrest is Illegal if Accused isn’t Produced in 24 Hours and Rearrest From Prison is Barred  ||  Supreme Court: Treating Every Sour Relationship as Rape Undermines the Seriousness of the Offence  ||  Supreme Court: Section 7 IBC Application Cannot be Rejected for Curable Defects in Affidavit  ||  NCLT Kochi: Sec 7 Insolvency Cannot be Filed Against Guarantor Without First Enforcing the Guarantee  ||  Patna High Court: Mere Two-And-A-Half-Year Incarceration is Not Sufficient for Bail under UAPA  ||  Bombay HC: Insolvency Cannot be Used to Evade a Family Court’s Maintenance Order  ||  Kerala HC: Forklifts and Factory Cranes Are Motor Vehicles and Must be Registered under MV Act  ||  Guj HC: Edible Crude Palm Kernel Oil Qualifies for Duty Exemption; End-Use Condition not Applicable    

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 2025 - All Rights Reserved