Pecuniary jurisdiction in commercial arbitration includes interest accrued up to invocation when forming part of the claim statement.

For pecuniary jurisdiction under Section 12(2) of the Commercial Courts Act, 2015 in a commercial arbitration, the aggregate value of the claim includes interest accrued up to the date of invocation of arbitration where that interest is part of the statement of claim. The provision was read as clear and unambiguous, and the distinction in Section 12(1)(a) for suits did not justify excluding such accrued interest. On that basis, the Section 34 petition was held to be beyond the District Court's pecuniary jurisdiction, and the impugned order was upheld.

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Issues: Whether, for determining pecuniary jurisdiction under Section 12(2) of the Commercial Courts Act, 2015 in an arbitration matter, interest claimed up to the date of invocation of arbitration must be included in the aggregate value of the claim.

Analysis: Section 12(2) of the Commercial Courts Act, 2015 treats the aggregate value of the claim and counter-claim in a commercial arbitration as the basis for jurisdiction. The expression "aggregate value" was held to be wide enough to include interest claimed up to the date of invocation of arbitration where such interest forms part of the statement of claim. The distinction drawn in Section 12(1)(a) for suits did not justify reading a restriction into Section 12(2), because the latter provision was considered clear and unambiguous. The claim for future and pendente lite interest was read as including interest already accrued from the date of cause of action till invocation of arbitration, and that component was held relevant for jurisdiction. The authorities cited by the appellants were found inapplicable because they dealt with pendente lite or future interest in a different context.

Conclusion: Interest accrued up to the date of invocation of arbitration must be included in the aggregate value under Section 12(2) of the Commercial Courts Act, 2015; the petition under Section 34 of the Arbitration and Conciliation Act, 1996 was beyond the pecuniary jurisdiction of the District Court.

Final Conclusion: The impugned order was upheld and the appeal failed, while leaving the appellants free to approach the court of competent jurisdiction in accordance with law.

Ratio Decidendi: For jurisdiction under Section 12(2) of the Commercial Courts Act, 2015, the aggregate value of an arbitration claim includes interest accrued up to the date of invocation of arbitration when such interest is part of the claim statement.

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