Supreme Court · 2003 INSC 603 · Decided 5 November 2003
M/S B.L. Gupta Construction (P) LTD. v. Bharat Cooperative Group Housing Society LTD.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 603 · [2003] SUPP. 5 S.C.R. 269
- Case number
- CIVIL APPEAL No. 2902/2002
- Decided
- 5 November 2003
- Bench
- V.N. KHARE, S.B. SINHA, AR. LAKSHMANAN (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- CPC Section 34; Constitution
Headnote
B Arbitration : Interest-Pre-reference interest-Work contract-Dispute between parties referred to arbitrator-Contractor claiming pre-reference interest as also fature C interest@24% per annum-Arbitrator allowing 18% pre-reference, pendente lite and post award interest-Division Bench of High Court to interest prior to date of award and reducing interest to 10% from date of award till date of decree-Held, in view of the agreement between the parties, contractor entitled to pre-reference interest @12% per annum- D As regards interest pendente lite, arbitrator having exercised his
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