Arbitration and Conciliation Act, 1996, Section 31(7) -- Arbitral award - Interest - Arbitral tribunal awarded interest in terms of MOU from date of cause of action till date of repayment as per S.31(7)(a) of the Act - As the arbitral tribunal had expressly provided interest till date of repayment, question of additional or compound interest u/s 31(7)(b) of the Act would..........
Arbitration and Conciliation Act, 1996, Section 31(7) -- Arbitral award - Interest - Once parties agree on interest regime, arbitrator's role is confined to enforcing it and Courts would not rewrite or enlarge award by introducing further interest at execution stage...........
Arbitration and Conciliation Act, 1996, Section 36, 37 -- Execution - Arbitral award - Executing Court cannot defer the consideration of execution application and objections thereto only because an appeal u/s 37 of the Act is pending and when there is no interim order operating against award against which objection u/s 34 of the Act stands rejected - Question of..........
Arbitration and Conciliation Act, 1996, Section 31(7)(b) -- Arbitral award - Pendente-lite interest - Arbitral tribunal can be denuded of its power to award pendente lite interest only if contract between parties is so worded that award of pendente lite interest is either explicitly or by necessary implication barred - A clause merely barring award of interest on delayed..........
Arbitration and Conciliation Act, 1996, Section 31(7)(b) -- Arbitral award - Pendente-lite interest - Agreement between parties proscribes grant of pendente-lite interest, when read as a whole, does not expressly or by necessary implication proscribes grant of pendente lite interest by arbitral tribunal - Clause merely says that there would be no interest payable by..........
Arbitration and Conciliation Act, 1996, Section 31(5) -- Arbitral award - Delivery of signed copy of arbitral award - Delivery to Assistant Engineer who was not a party to arbitration and who was not in a decision-making capacity to take further recourses on award would not be a valid service of award...........
Arbitration and Conciliation Act, 1996, Section 31(5) -- Arbitral award - Delivery of signed copy of arbitral award - Award should be received in the context of huge organisations by person who has knowledge of proceedings and who would be best person to understand and appreciate arbitral award as also to take a decision in the matter of moving appropriate applications...........
Arbitration and Conciliation Act, 1996, Section 16, 37 -- Arbitral award - Whether an arbitral award rendered under the Act, 1996 where the arbitration proceedings was to be governed by the MP Act, 1983, can be set-aside or annulled solely on the ground of lack of jurisdiction, even when no such plea was raised before the arbitral tribunal in terms of Section 16..........
Arbitration and Conciliation Act, 1996, Section 34 -- Arbitral award - Setting aside award - For S.18 of Limitation Act to apply the acknowledgment of liability must be within the period of limitation - Therefore, the decision of District Judge and Arbitrator is contrary to the provisions of the Limitation Act and is, therefore, opposed to the Public Policy of India and..........
Civil Procedure Code, 1908, Section 47 -- Execution - Arbitral award - Objection - Challenging appointment of an arbitrator for first time during execution proceedings is generally not permissible - Arbitration and conciliation Act provides specific timelines and procedures for challenging an arbitrator's appointment - Application rightly dismissed...........
