https://www.taxtmi.com/caselaws?id=193054 A contractual interest-exclusion clause was interpreted as widely worded, covering any amount due to the contractor, so ejusdem generis did not limit the clause to earnest money and security deposit. The commentary also explains that where Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 prescribes interest at 18% per annum, the rate cannot be reduced by reference to earlier decisions awarding a lower rate. The combined effect is that a broad contractual bar may exclude pre-award interest, while the statutory rate governs post-award interest unless the statute itself permits otherwise. en-us Thu, 12 Nov 2009 00:00:00 +0530 Sat, 02 Sep 2023 21:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193054 A contractual interest-exclusion clause was interpreted as widely worded, covering any amount due to the contractor, so ejusdem generis did not limit the clause to earnest money and security deposit. The commentary also explains that where Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 prescribes interest at 18% per annum, the rate cannot be reduced by reference to earlier decisions awarding a lower rate. The combined effect is that a broad contractual bar may exclude pre-award interest, while the statutory rate governs post-award interest unless the statute itself permits otherwise. Case-Laws Indian Laws Thu, 12 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193054