https://www.taxtmi.com/caselaws?id=306806 Contractual clauses expressly barring interest on delayed payments and on sums retained because of disputes or omissions were held wide enough to exclude both pendente lite and future interest on arbitral awards. The court applied the wording of the clauses as broad prohibitions against interest claims on withheld amounts, and found that Section 31(7) of the Arbitration and Conciliation Act, 1996 did not override that contractual bar. The distinctions drawn from earlier authorities and the canons of ejusdem generis and noscitur a sociis did not assist because the contract language disclosed a sufficiently broad category covering the interest claimed. The award of interest was therefore set aside. en-us Fri, 14 Dec 2012 00:00:00 +0530 Sat, 25 Feb 2023 13:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306806 Contractual clauses expressly barring interest on delayed payments and on sums retained because of disputes or omissions were held wide enough to exclude both pendente lite and future interest on arbitral awards. The court applied the wording of the clauses as broad prohibitions against interest claims on withheld amounts, and found that Section 31(7) of the Arbitration and Conciliation Act, 1996 did not override that contractual bar. The distinctions drawn from earlier authorities and the canons of ejusdem generis and noscitur a sociis did not assist because the contract language disclosed a sufficiently broad category covering the interest claimed. The award of interest was therefore set aside. Case-Laws Indian Laws Fri, 14 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306806