https://www.taxtmi.com/caselaws?id=428494 Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 gives the arbitral tribunal discretion to award interest, but that discretion must be exercised reasonably on relevant facts and supported by reasons. Where the claimant's prolonged and unexplained inactivity materially contributed to delay in commencing arbitration, interest for the affected pre-reference and pendente lite periods may be denied. The long lapse of time also justified reducing interest for the remaining period to achieve complete justice. The interest component was therefore curtailed, with no interest for two specified periods and interest for the balance confined to 9% per annum. en-us Fri, 30 Sep 2022 00:00:00 +0530 Mon, 03 Oct 2022 08:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428494 Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 gives the arbitral tribunal discretion to award interest, but that discretion must be exercised reasonably on relevant facts and supported by reasons. Where the claimant's prolonged and unexplained inactivity materially contributed to delay in commencing arbitration, interest for the affected pre-reference and pendente lite periods may be denied. The long lapse of time also justified reducing interest for the remaining period to achieve complete justice. The interest component was therefore curtailed, with no interest for two specified periods and interest for the balance confined to 9% per annum. Case-Laws Indian Laws Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428494