https://www.taxtmi.com/caselaws?id=787251 A contractual bar on interest in the GCC prevented an arbitral tribunal from granting pre-award or pendente lite interest, because Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 makes such interest subject to party agreement and Section 28(3) requires the tribunal to follow the contract; that component was therefore set aside. Post-award interest was not excluded by the clause, so Section 31(7)(b) applied, but the tribunal's 12% rate was found excessive and was reduced to 8% per annum from the date of award until realization. The SC held that the Commercial Court and High Court erred in upholding the pre-award interest and the unmodified post-award rate. en-us Fri, 27 Feb 2026 00:00:00 +0530 Mon, 02 Mar 2026 08:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787251 A contractual bar on interest in the GCC prevented an arbitral tribunal from granting pre-award or pendente lite interest, because Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 makes such interest subject to party agreement and Section 28(3) requires the tribunal to follow the contract; that component was therefore set aside. Post-award interest was not excluded by the clause, so Section 31(7)(b) applied, but the tribunal's 12% rate was found excessive and was reduced to 8% per annum from the date of award until realization. The SC held that the Commercial Court and High Court erred in upholding the pre-award interest and the unmodified post-award rate. Case-Laws Indian Laws Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787251