Supreme Court · 2015 INSC 468 · Decided 2 July 2015
Union of India v. M/S Bright Power Projects (I) P. LTD.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 468 · [2015] 6 S.C.R. 488
- Case number
- CRIMINAL APPEAL No. 2404/2008
- Decided
- 2 July 2015
- Bench
- ANIL R. DAVE, VIKRAMAJIT SEN, PINAKI CHANDRA GHOSE (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Criminal
- Acts & sections cited
- Arbitration Act Section 31(7)
Headnote
c Arbitration and Conciliation Act, 1996 - s. 31 (7) - Award of pendentelite interest on the amount of arbitral award- When the contract between the parties contained an express bar regarding award of interest - Propriety of - Held: s. 31 (7) specifically provides that arbitrator terms of D the contract so far as award of interest is concerned- Once the parties agreed that no interest would be paid, they were bound by that understanding - Thus, neither the party was entitled to claim interest nor the arbitral tribunal could have awarded the interest. E Allowing the appeal,
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