Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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The SC allowed the appeal, set aside the HC's order and restored the execution court's position, holding that the arbitral award-drafted in conformity with the parties' MoU-did not grant compound interest and accordingly cannot be supplemented at execution. Under s.31(7)(a)/(b) of the Arbitration and Conciliation Act, party autonomy governs interest from cause of action to award date and the tribunal's discretion under clause (a) exists only in the absence of contrary agreement; clause (b) is contingent on an award. Because the tribunal awarded interest only until repayment and the MoU did not provide for compounding, the respondent's claim for compound interest in execution was rejected.
The SC allowed the appeal, set aside the HC's order and restored the execution court's position, holding that the arbitral award-drafted in conformity with the parties' MoU-did not grant compound interest and accordingly cannot be supplemented at execution. Under s.31(7)(a)/(b) of the Arbitration and Conciliation Act, party autonomy governs interest from cause of action to award date and the tribunal's discretion under clause (a) exists only in the absence of contrary agreement; clause (b) is contingent on an award. Because the tribunal awarded interest only until repayment and the MoU did not provide for compounding, the respondent's claim for compound interest in execution was rejected.
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