Supreme Court · 2010 INSC 69 · Decided 29 January 2010
State of Haryana & ORS. v. S. L. Arora & Company
- Court
- Supreme Court of India
- Citation
- 2010 INSC 69 · [2010] 2 S.C.R. 297
- Case number
- CIVIL APPEAL No. 1094/2010
- Decided
- 29 January 2010
- Bench
- R.V. RAVEENDRAN, K.S. RADHAKRISHNAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 31(7), 31(7)(a)
Headnote
Interest Act, 1978: A B s. 3 - Interest - Compound interest or Interest upon c interest - HELD: Section 3 enables the courts and arbitral tribunals to award interest from the date of cause of action to the date of institution of legal proceedings or initiation of arbitration proceedings - It does lite or future interest- Sub-section (3)(c) of s.3 makes it clear that nothing in the said section shall empower the court or .D arbitrator to award interest upon interest -Interest is usually quantified in terms of a percentage of the 'principal' or the 'investment' or the 'amount of liability'
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