https://www.taxtmi.com/caselaws?id=275985 Section 31(7) of the Arbitration and Conciliation Act, 1996 was interpreted as permitting only simple interest unless the contract expressly provides otherwise. The tribunal may award pre-award interest on the money awarded and post-award interest on the sum directed to be paid, but pre-award interest cannot be capitalised into principal for post-award interest. The statutory reference to 18% was treated as the default post-award rate, not a mandate for compound interest. On the award wording, future interest was construed as applying only to the principal amount awarded, not to any pre-award interest component. en-us Fri, 29 Jan 2010 00:00:00 +0530 Fri, 16 May 2025 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275985 Section 31(7) of the Arbitration and Conciliation Act, 1996 was interpreted as permitting only simple interest unless the contract expressly provides otherwise. The tribunal may award pre-award interest on the money awarded and post-award interest on the sum directed to be paid, but pre-award interest cannot be capitalised into principal for post-award interest. The statutory reference to 18% was treated as the default post-award rate, not a mandate for compound interest. On the award wording, future interest was construed as applying only to the principal amount awarded, not to any pre-award interest component. Case-Laws Indian Laws Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275985