https://www.taxtmi.com/caselaws?id=303406 The Supreme Court dismissed ONGC's appeal and allowed Reliance's appeal, reinstating the 18% interest rate for pre-reference and pendente lite periods. The Court emphasized that contractual clauses must explicitly bar interest to prevent arbitrators from awarding it and upheld the arbitrator's discretion in determining interest rates. ONGC was ordered to pay the differential interest amount within eight weeks, with clarified future interest rates. en-us Fri, 20 Jul 2018 00:00:00 +0530 Wed, 20 Jul 2022 21:00:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303406 The Supreme Court dismissed ONGC's appeal and allowed Reliance's appeal, reinstating the 18% interest rate for pre-reference and pendente lite periods. The Court emphasized that contractual clauses must explicitly bar interest to prevent arbitrators from awarding it and upheld the arbitrator's discretion in determining interest rates. ONGC was ordered to pay the differential interest amount within eight weeks, with clarified future interest rates. Case-Laws Indian Laws Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303406