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Section 3, Section 2(b), Interest Act, 1978

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Does Clause 54 of the GCC bar an arbitrator from awarding pre-reference interest?

Contractual Clause Bars Pre-Reference Interest in Arbitration Awards

North Eastern Electric Power Corporation Limited (NEEPCO) vs Astra Construction Private Limited

Arbitration Law / Contract Law / Interest on Arbitral Awards

The Supreme Court held that Clause 54 of the GCC is a complete bar on pre-reference interest and set aside the High Court's order restoring such interest.

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