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State of Odisha - Section

Section 16 in The Orissa Arbitration Tribunal Rules, 1979

16.

(1)The amount of the award given by the Tribunal shall be to the nearest rupee.
(2)The award amount shall be paid by the concerned parties within a period of 120 days of receipt of the notice of such award by the party :Provided that if this amount is not paid within the stipulated period, the Tribunal shall have power to direct payment of interest on the principal amount of award.