https://www.taxtmi.com/caselaws?id=295898 The court affirmed the decision in S.L. Arora & Co., holding that compound interest or interest on interest is not allowed under Section 31(7) of the Arbitration and Conciliation Act, 1996. The court clarified that the principal amount awarded by the arbitral tribunal does not include interest awarded for the pre-award period. The term "sum" in Clause (b) of Sub-section (7) refers solely to the principal amount, excluding interest under Clause (a). The case was remanded for further adjudication by a two-Judge Bench. en-us Tue, 25 Nov 2014 00:00:00 +0530 Thu, 16 Jun 2022 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295898 The court affirmed the decision in S.L. Arora & Co., holding that compound interest or interest on interest is not allowed under Section 31(7) of the Arbitration and Conciliation Act, 1996. The court clarified that the principal amount awarded by the arbitral tribunal does not include interest awarded for the pre-award period. The term "sum" in Clause (b) of Sub-section (7) refers solely to the principal amount, excluding interest under Clause (a). The case was remanded for further adjudication by a two-Judge Bench. Case-Laws Indian Laws Tue, 25 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295898