https://www.taxtmi.com/caselaws?id=771007 Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 makes post-award interest statutory unless the award directs a different rate; the phrase "unless the award otherwise directs" qualifies only the rate, not the entitlement. Section 31(7)(a) separately gives the tribunal discretion on pre-award interest. Where an award is silent on post-award interest for a payable sum, the statutory rate of 18% per annum applies, including in execution, because enforcing that interest does not amount to going behind the award. The tribunal may specify post-award interest on part of the sum, but if it does not, the statute supplies the default rate. en-us Thu, 17 Apr 2025 00:00:00 +0530 Tue, 13 May 2025 16:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771007 Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 makes post-award interest statutory unless the award directs a different rate; the phrase "unless the award otherwise directs" qualifies only the rate, not the entitlement. Section 31(7)(a) separately gives the tribunal discretion on pre-award interest. Where an award is silent on post-award interest for a payable sum, the statutory rate of 18% per annum applies, including in execution, because enforcing that interest does not amount to going behind the award. The tribunal may specify post-award interest on part of the sum, but if it does not, the statute supplies the default rate. Case-Laws Indian Laws Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771007