Supreme Court · 2006 INSC 522 · Decided 18 August 2006
Manalal Prabhudayal v. Oriental Insurance CO. LTD.
- Court
- Supreme Court of India
- Citation
- 2006 INSC 522 · [2006] SUPP. 4 S.C.R. 666
- Case number
- CIVIL APPEAL No. 3537/2006
- Decided
- 18 August 2006
- Bench
- C.K. THAKKER, MARKANDEY KATJU (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- CPC Section 34
Headnote
Arbitration-Power of arbitrator to award interest--Arbitrator awarding interest (a) 12% per annum for pre-reference period, pendente lite and post award perioJ.--High Court reducing interest rate from 12% to 6% C from dace of award till date of payment--Currectness of-Held: Arbitrator has power tu post award period provided the rate is reasonable---Award ww made rule of the Court and was upheld by civil cuurt, thus direction of arb1tratur not arbitrary or unreasunable--Hence, order uf High Court set D aside. Arbitrator passed an award and allowed the claim of the appellant-firm against
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