https://www.taxtmi.com/caselaws?id=384288 Para 7A of Section 24 of the Uttar Pradesh Civil Laws (Reforms and Amendment) Act, 1976 was held inapplicable to arbitral proceedings commenced under the Arbitration and Conciliation Act, 1996, because Section 85 of the 1996 Act repealed the earlier Arbitration Act, 1940 and the State amendment attached to the repealed regime could not control proceedings under the later statute. Section 31(7)(b) of the 1996 Act was treated as the governing provision for post-award interest, under which a sum directed to be paid by an arbitral award carries interest at 18% per annum from the date of award to payment unless the award directs otherwise. The attempted reduction of post-award interest to 6% was therefore not justified. en-us Thu, 08 Aug 2019 00:00:00 +0530 Sat, 10 Aug 2019 06:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384288 Para 7A of Section 24 of the Uttar Pradesh Civil Laws (Reforms and Amendment) Act, 1976 was held inapplicable to arbitral proceedings commenced under the Arbitration and Conciliation Act, 1996, because Section 85 of the 1996 Act repealed the earlier Arbitration Act, 1940 and the State amendment attached to the repealed regime could not control proceedings under the later statute. Section 31(7)(b) of the 1996 Act was treated as the governing provision for post-award interest, under which a sum directed to be paid by an arbitral award carries interest at 18% per annum from the date of award to payment unless the award directs otherwise. The attempted reduction of post-award interest to 6% was therefore not justified. Case-Laws Indian Laws Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384288