If there is specific agreement between parties with regard to payment of interest then, Arbitral Tribunal will cease to have any discretion and would be bound by agreement between parties.

Citation

AIR 2022 SUPREME COURT 2165

2022 LiveLaw (SC) 452

SUPREME COURT

: AIROnline 2022 SC 614 (From : AIROnline 2022 Del 597)

L. NAGESWARA RAO , J. and B. R. GAVAI , J.

Civil Appeal No. 3657 of 2022 (Arising out of Special Leave Petition (Civil) No. 4901 of 2022), 

D/- 5 - 5 - 2022

Delhi Airport Metro Express Private Limited v. Delhi Metro Rail Corporation.

(A)Arbitration and Conciliation Act (26 of 1996), S.31(7)(a) - Award of interest pendente lite -

Discretionary powers of Arbitrator - If there is specific agreement between parties with regard

to payment of interest then, Arbitral Tribunal will cease to have any discretion and would be

bound by agreement between parties. Interpretation of Statutes - Intention of Legislature.