Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
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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