https://www.taxtmi.com/article/detailed?id=13003 Section 31(7) of the Arbitration and Conciliation Act empowers an arbitral tribunal to include interest in awards for money, covering the period from cause of action to award and prescribing a higher post-award rate unless the award directs otherwise. This power coexists with party autonomy: an explicit, clear contractual prohibition will restrict the tribunal's ability to grant pre-reference or pendente lite interest, whereas silence in the agreement ordinarily permits the tribunal to award such interest provided the claimant's entitlement is supported by contract, statute, or trade usage. en-us Tue, 08 Oct 2024 18:51:33 +0530 Tue, 08 Oct 2024 18:51:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13003 Section 31(7) of the Arbitration and Conciliation Act empowers an arbitral tribunal to include interest in awards for money, covering the period from cause of action to award and prescribing a higher post-award rate unless the award directs otherwise. This power coexists with party autonomy: an explicit, clear contractual prohibition will restrict the tribunal's ability to grant pre-reference or pendente lite interest, whereas silence in the agreement ordinarily permits the tribunal to award such interest provided the claimant's entitlement is supported by contract, statute, or trade usage. Articles Other Topics Tue, 08 Oct 2024 18:51:33 +0530 https://www.taxtmi.com/article/detailed?id=13003