https://www.taxtmi.com/caselaws?id=374748 Contract clauses expressly barred any claim for interest on amounts retained by the employer because of dispute, difference, misunderstanding, or delay in payment. Applying Section 31(7)(a) of the Arbitration and Conciliation Act, 1996, the Supreme Court noted that party autonomy governs and, where the agreement prohibits interest, the arbitral tribunal cannot award pre-reference or pendente lite interest. Authorities under the 1940 Act were distinguished because they concerned a different statutory regime and materially different wording. The ejusdem generis argument was rejected because the clause did not disclose a distinct genus limiting the wide language used. The challenge to the interest component of the award failed. en-us Thu, 07 Feb 2019 00:00:00 +0530 Thu, 15 May 2025 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374748 Contract clauses expressly barred any claim for interest on amounts retained by the employer because of dispute, difference, misunderstanding, or delay in payment. Applying Section 31(7)(a) of the Arbitration and Conciliation Act, 1996, the Supreme Court noted that party autonomy governs and, where the agreement prohibits interest, the arbitral tribunal cannot award pre-reference or pendente lite interest. Authorities under the 1940 Act were distinguished because they concerned a different statutory regime and materially different wording. The ejusdem generis argument was rejected because the clause did not disclose a distinct genus limiting the wide language used. The challenge to the interest component of the award failed. Case-Laws Indian Laws Thu, 07 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374748