that
neither the Interest Act 1839 nor the Interest Act 1978 conferred power on
the Arbitrator for awarding interest pendente lite. The learned Judge
observed ... three periods, viz. pre-reference, pendente
lite and post-award, whereas Firm Madanlal Roshanlal dealt with pendente
lite interest alone. Satinder Singh 's case
would have power to award interest in the same way and same manner as a
court.
Regarding interest pendente lite also, there was cleavage ... reference makes a claim for interest, the arbitrator must have the power to
award interest pendente lite, Thawardas has not been followed in the later
commencement of the Interest Act, 1978 , the arbitrator did
not have the power to grant interest either pendente lite or
for the period prior ... award of pendente lite interest. We must look elsewhere for
the law relating to the award of interest pendente lite.
This, we find, provided
proceedings. Neither the Interest Act of 1839 nor the
Interest Act of 1978 provides for the award of pendente lite
interest. [260D]
3. The award ... award of pendente lite
interest. We must look elsewhere for the law relating to the
award of interest pendente lite. This, we find, provided
that no
interest pendente lite shall be payable on
the amount due, the arbitrator has no
power to award pendente lite interest. But
where ... reference makes a claim
for interest, the arbitrator must have the
power to award interest pendente lite.
Thawardas has not been followed in the
later
grant pendente lite interest unless reference is
made in the course of a suit--Same powers to grant interest
pendente lite as the courts when ... grant such interest. Generally speak-
ing. it would only seem reasonable that the power to grant
interest pendente lite should be treated as ancillary
mention here
that the said decree did not provide for any pendente lite interest.
Thereafter, the decree holder put the decree in execution ... execution
proceedings, the decree holder claimed pendente lite interest @ 24%.
However, the claim of interest by the respondent-decree holder was rejected
by the executing
reference makes a
claim for interest, the arbitrator
must have the power to award
interest pendente lite. Thawardas
has not been followed in the later ... contract did not allow the award
of interest. He submitted that neither pre-reference
interest nor pendente lite interest could be awarded because
reference makes a claim for interest, the arbitrator must have the power to award interest pendente lite. Thawardas has not been followed in the later ... that neither the Interest Act, 1839 nor the Interest Act, 1978 conferred power on the arbitrator for awarding interest pendente lite. The learned Judge observed
person liable
for the claim that interest will be claimed.
(d) Payment of interest pendente lite and future interest shall not be governed by
provisions ... regarding interest. The provision need not contain
another bar prohibiting Arbitrator from awarding interest. The observations
made in the context of interest pendente lite cannot
