https://www.taxtmi.com/caselaws?id=305836 An arbitral award on agreed terms that expressly fixes interest cannot have that rate reduced to 18% per annum at the execution stage by resort to Section 31(7)(b) of the Arbitration and Conciliation Act, 1996; that provision applies only where the award is silent on interest, and the execution court cannot reopen the award or substitute a different rate. Objections based on the Usurious Loans Act, 1918 also cannot be raised in execution, because that Act is confined to suits and does not permit a collateral attack on enforcement of an arbitral award. Where no Section 34 challenge is filed in time, the award remains enforceable as a decree under Section 36. en-us Thu, 14 Aug 2008 00:00:00 +0530 Tue, 27 Dec 2022 11:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305836 An arbitral award on agreed terms that expressly fixes interest cannot have that rate reduced to 18% per annum at the execution stage by resort to Section 31(7)(b) of the Arbitration and Conciliation Act, 1996; that provision applies only where the award is silent on interest, and the execution court cannot reopen the award or substitute a different rate. Objections based on the Usurious Loans Act, 1918 also cannot be raised in execution, because that Act is confined to suits and does not permit a collateral attack on enforcement of an arbitral award. Where no Section 34 challenge is filed in time, the award remains enforceable as a decree under Section 36. Case-Laws Indian Laws Thu, 14 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305836