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Head Note

Indian Arbitration Act, 1940  - Section 3 , Section 2 , Section 29 , Section 21

Arbitration - Pendente Lite Interest - Award of - Jurisdiction of Arbitrator - Whether an Arbitrator has the power to award pendente lite interest in case contract bars the same in a case covered by Act -Held that if contract expressly bars award of interest pendente lite, the same cannot be awarded by the Arbitrator - Made clear that the bar to award interest on delayed payment by itself will not be readily inferred as express bar to award interest pendente lite by the Arbitral Tribunal, as ouster of power of Arbitrator has to be considered on various relevant aspects.

Topic(s)-Arbitration - No Pendente Lite Interest if Contract Barred it