Supreme Court · 1999 INSC 200 · Decided 23 April 1999
Oil and Natural Gas Commission v. M/S M.C. Clelland Engineers S.A.
- Court
- Supreme Court of India
- Citation
- 1999 INSC 200 · [1999] 2 S.C.R. 830
- Case number
- CIVIL APPEAL No. 932/1991
- Decided
- 23 April 1999
- Bench
- S. RAJENDRA BABU, S.N. PHUKAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- CPC Section 34; Arbitration Act Section 29
Headnote
Arbitration Act, 1940-Section 29-Interest upon interest-Grant a/­ Arbitration proceedings-Award for payment of balance amount claimed and interest on delayed payment-Interest on the amount awarded-Validity of- C Held, Arbitrators have power to grant interest-Interest on the amount of interest which becomes part of the principal-Thus, interest is not granted upon interest awarded but upon the claim made-Interest Act, 1978- Section 3. D E F G limitation Arbitration-Claim for interest on delayed payment-Plea that it was barred by limitation-Insufficient Pleadings before the
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