SRI LIMITED v. SRIRAM LTD.
Supreme Court of IndiaC.A. NO. 013785-013785 - 2025Bench: Justice J.B. Pardiwala, Justice K.V. Viswanathan
The Supreme Court dismissed the appeal challenging the 24% interest rate awarded by the arbitrator, holding that Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 mandates post-award interest at the contractual rate unless the award specifies otherwise, and that such discretion is unfettered by party autonomy unlike pre-award interest under Section 31(7)(a).