Supreme Court · 2021 INSC 754 · Decided 18 November 2021
Union of India v. Manraj Enterprises
- Court
- Supreme Court of India
- Citation
- 2021 INSC 754 · [2021] 7 S.C.R. 413
- Case number
- CIVIL APPEAL No. 6592/2021
- Decided
- 18 November 2021
- Bench
- M.R. SHAH, B.V. NAGARATHNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 34, 37
Headnote
Interest: Interest pendente lite - Award of interest by arbitrator contrary to clause 16(2) of the General Conditions of Contract - Correctness of - Dispute related to work contract - Arbitrator awarded pendente lite and future interest at the rate of 12% and 18% and security deposit - Said order upheld by the High Court - On appeal, held: Once the contractor agrees that he shall not be entitled to interest on the amounts payable under the contract, including the interest upon the earnest money and the security deposit as mentioned in clause
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