Supreme Court · 2022 INSC 1043 · Decided 30 September 2022
Executive Engineer (R and B) and Others v. Gokul Chandra Kanungo (Dead) THR. His LRS.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 1043 · [2022] 7 S.C.R. 309
- Case number
- CIVIL APPEAL No. 8990/2017
- Decided
- 30 September 2022
- Bench
- BHUSHAN RAMKRISHNA GAVAI, B.V. NAGARATHNA (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 142; Arbitration Act Section 31(7)(a), 31
Headnote
Arbitration and Conciliation Act, 1996 - s.31(7)(a) - Arbitral award - Interest on arbitral awards - Discretion vested in arbitral tribunal - Reduction of interest u/Art.142 of the Constitution - Held: s.31(7)(a) itself requires interest to be at such rate as - When a discretion is vested to an arbitral tribunal to award interest at a rate which it deems reasonable, then a duty would be cast upon the arbitral tribunal to give reasons as to how it deems the rate of interest to be reasonable - Further, the arbitral tribunal would be
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