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2017 (4) TMI 1423 - SC - Indian LawsWhether the claimant, i.e., the Appellant before this Court - M/s. Ambica Construction, could have been awarded interest pendente lite by the arbitrator? Held that:- The bar to award interest on the amounts payable under the contract, would not be sufficient to deny payment of pendente lite interest - the clause relied upon by the learned Counsel for the Union of India, to substantiate his contention, that pendente lite interest could not be awarded to the Appellant, was not a valid consideration, for the proposition being canvassed. The arbitrator, while passing his award dated 28.6.1999, was fully justified in granting interest pendente lite to the Appellant - pendente lite interest determined by the arbitrator, shall be paid to the Appellant, within two months from today - appeal allowed.
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