https://www.taxtmi.com/caselaws?id=384288 The Supreme Court allowed the appeal, setting aside the judgments of the High Court and the District Judge regarding the reduction of the interest rate from 18% p.a. to 6% p.a. The Court reinstated the interest awarded by the Arbitrator at 18% p.a. in accordance with Section 31(7)(b) of the Arbitration and Conciliation Act, 1996. The Court clarified that provisions of the repealed Arbitration Act, 1940, and State amendments like para 7A of the U.P. Amendment Act were not applicable to proceedings under the Act of 1996. 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 The Supreme Court allowed the appeal, setting aside the judgments of the High Court and the District Judge regarding the reduction of the interest rate from 18% p.a. to 6% p.a. The Court reinstated the interest awarded by the Arbitrator at 18% p.a. in accordance with Section 31(7)(b) of the Arbitration and Conciliation Act, 1996. The Court clarified that provisions of the repealed Arbitration Act, 1940, and State amendments like para 7A of the U.P. Amendment Act were not applicable to proceedings under the Act of 1996. Case-Laws Indian Laws Thu, 08 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384288