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Head Note

Indian Arbitration Act, 1940  - Section 29

Grant of Interest - Where the agreement between the parties does not prohibit grant of interest and where a party claims interest and that dispute (along with the claim for principal amount or independently) is referred to the arbitrator, he shall have the power to award interest pendent elite - To the arbitrator, he shall have the power to award interest - This does not mean that in every case the arbitrator should necessarily award interest pendent elite - It is a matter within his discretion to be exercised in the light of all the facts and circumstances of the case, keeping the ends of justice in view.

Topic(s)-Grant of Interest

Important Decision(s)- Arbitrator have the power to award interest - It is his discretion facts and circumstances of the case.