Section 31(7)(b) in The Arbitration And Conciliation Act, 1996

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Union of India - Subsection

Section 31(7)(b) in The Arbitration And Conciliation Act, 1996

(b)[ A sum directed to be paid by an arbitral award shall, unless the award otherwise directs, carry interest at the rate of two per cent. higher than the current rate of interest prevalent on the date of award, from the date of award to the date of payment. [Substituted by Act No. 3 of 2016 dated 31.12.2015.]

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Union of India - Subsection

Section 31(7)(b) in The Arbitration And Conciliation Act, 1996