https://www.taxtmi.com/caselaws?id=756686 Post-award interest under an arbitration award and decree was confined to the principal sum adjudged and did not extend to pre-award interest, because Section 29 of the Indian Arbitration Act, 1940 and Section 34 of the Code of Civil Procedure limit interest to the principal sum, and Section 3(3) of the Interest Act, 1978 bars interest on interest unless statute or contract expressly permits it. In the absence of any express stipulation in the award, decree, statute, or contract authorising compounding of pre-award interest, the higher post-award rate could not be applied to the combined amount. The view that a wider phraseology could support interest on the whole award was distinguished as arising under different statutory language. en-us Wed, 07 Aug 2024 00:00:00 +0530 Thu, 08 Aug 2024 09:05:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756686 Post-award interest under an arbitration award and decree was confined to the principal sum adjudged and did not extend to pre-award interest, because Section 29 of the Indian Arbitration Act, 1940 and Section 34 of the Code of Civil Procedure limit interest to the principal sum, and Section 3(3) of the Interest Act, 1978 bars interest on interest unless statute or contract expressly permits it. In the absence of any express stipulation in the award, decree, statute, or contract authorising compounding of pre-award interest, the higher post-award rate could not be applied to the combined amount. The view that a wider phraseology could support interest on the whole award was distinguished as arising under different statutory language. Case-Laws Indian Laws Wed, 07 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756686