Arbitration - Arbitrator has the power to award interest pendente lite where justified. Raveechee and Co. v. Union of India, 2018 (4) ALT 46 : 2018 (4) CTC 330 : 2018 (3) RCR (Civil) 465 : 2018 (8) Scale 415 C.A. No. 5964-5965 of 2018 03-07-2018 Arbitration Act, 1940 - Pendente Lite Interest - Under the 1940 Act, an arbitrator has power to grant pre-reference interest under the Interest Act, 1978 as well as pendente lite and future interest. However, he is constricted only by the fact that an agreement between the parties may contain an express bar to the award of pre-reference and/or pendente lite interest. Reliance Cellulose Products Ltd. v. Oil and Natural Gas Corporation, AIR 2018 SC 3707 : 2018 (4) ArbLR 276 : 2018 (3) RCR (Civil) 861 : (2018) 9 SCC 266 C.A. No. 6639 of 2018 20-07-2018 Arbitration and Conciliation Act, 1996 - Clauses which is inserted in an Agreement to to prevent disputes from occurring and to ensure smooth implementation of the Agreement, thereby making it c...
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