Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
The article addresses contractual bars to pre-award (pendente lite) interest and the scope of post-award interest under Section 31(7). It explains that an express contractual prohibition on interest prevails over an arbitral award, applying ejusdem generis to reject attempts to characterise prohibited interest as 'compensation', and concludes pendente lite awards contrary to clause-based bars are liable to be set aside. It further explains that post-award interest under Section 31(7)(b) is payable despite pre-award bars, but a tribunal's unreasoned fixation of rate may be judicially moderated; the rate awarded was reduced on that basis. Judicial interference under limited review provisions was held justified on these points.
The article addresses contractual bars to pre-award (pendente lite) interest and the scope of post-award interest under Section 31(7). It explains that an express contractual prohibition on interest prevails over an arbitral award, applying ejusdem generis to reject attempts to characterise prohibited interest as 'compensation', and concludes pendente lite awards contrary to clause-based bars are liable to be set aside. It further explains that post-award interest under Section 31(7)(b) is payable despite pre-award bars, but a tribunal's unreasoned fixation of rate may be judicially moderated; the rate awarded was reduced on that basis. Judicial interference under limited review provisions was held justified on these points.
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