Arbitration Law
Mode of Citation- ILC-2016-SC-ARB-....
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Arbitration Law
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Arbitration Law
Mode of Citation- ILC-2016-SC-ARB-....
Judgement Subject Index/Important Decision/Topic

ILC-2015-SC-ARB-Jul-1

Union of India Vs. Bright Power Projects (I) P. Ltd.

Head Note

The Arbitration and Conciliation Act, 1996  - Section 31 (7)

Arbitration Award - Interest - Parties to the contract had agreed to the fact that interest would not be awarded on the amount payable to the contractor under the contract - They were bound by their understanding - Having once agreed that the contractor would not claim any interest on the amount to be paid under the contract, he could not have claimed interest either before a civil court or before an Arbitral Tribunal - Held that the Arbitral Tribunal ought not to have awarded interest to the respondent from the date of reference till the date of the award.

Topic(s)-Arbitration - Interest - No interest allowed







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