Section 31(7)(a) Arbitration Act | Arbitrator Has No Discretion When Parties Agree on Interest Rate: Supreme Court

The Supreme Court of India has dismissed the appeals filed by BPL Limited against Morgan Securities and Credits Private Limited, upholding an arbitral award that granted interest at the rate of 36% per annum with monthly rests. In a significant ruling concerning commercial arbitration, the Bench comprising Justice J.B. Pardiwala and Justice Sandeep Mehta held

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