https://www.taxtmi.com/caselaws?id=261295 An arbitral tribunal cannot award pendente lite interest where the contract expressly excludes interest on earnest money, security deposit, or other amounts payable to the contractor. Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 permits interest only unless the parties agree otherwise, so the contractual prohibition prevails over earlier principles developed under a different statutory regime. On that basis, the text states that the award of pendente lite interest was unsustainable and was set aside in favour of the appellant. en-us Thu, 02 Jul 2015 00:00:00 +0530 Fri, 27 Oct 2017 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261295 An arbitral tribunal cannot award pendente lite interest where the contract expressly excludes interest on earnest money, security deposit, or other amounts payable to the contractor. Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 permits interest only unless the parties agree otherwise, so the contractual prohibition prevails over earlier principles developed under a different statutory regime. On that basis, the text states that the award of pendente lite interest was unsustainable and was set aside in favour of the appellant. Case-Laws Indian Laws Thu, 02 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261295