2010 (9) TMI 1060

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ade an award dated 6.7.1991 allowing claims 1 to 8, 11 and 12 (Note: claims 1,2 and 5 were allowed only in part) and disallowing claims 9, 13 to 20 of the respondent. The arbitrator also granted interest from 10.3.1989 to 6.1.1990 and from the date of award to date of decree at 18% per annum. On the award being challenged, the Civil Court, by judgment dated 19.2.2001 set aside the award on claims .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s payable pendente lite and in future at 18% per annum. The said judgment is challenged in these appeals by special leave. 3. The award of the Arbitrator is governed by the Arbitration Act, 1940. This court has been consistently taking a view that in the absence of any specific contract in regard to rate of interest, pendente lite and future interest should not normally exceed 9% per Constructi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X