DAMEPL v DMRC: Supreme Court upholds Delhi High Court verdict on payment of interest on arbitral award amount

The Court held that Section 31(7)(a) of the Arbitration and Conciliation Act says that discretion with regard to grant of interest would be available to the Tribunal only when there is no agreement to the contrary.
Justice L Nageswara Rao, Justice BR Gavai and Supreme court
Justice L Nageswara Rao, Justice BR Gavai and Supreme court

The Supreme Court on Thursday upheld the judgment of the Delhi High Court on the aspect of interest to be paid by Delhi Metro Rail Corporation (DMRC) on the amount awarded by an arbitral tribunal in favour of Anil Ambani-owned Delhi Airport Metro Express Private Limited (DAMEPL). [Delhi Airport Metro Express Pvt Ltd v. Delhi Metro Rail Corporation]

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