Supreme Court of India
Manalal Prabhudayal v. Oriental Insurance Co. Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
For the foregoing reasons, the appeals filed by the appellant-firm deserve to be allowed and are accordingly allowed.
Judgment, page 6
From the headnote
Arbitration-Power of arbitrator to award interest--Arbitrator awarding interest (a) 12% per annum for pre-reference period, pendente lite and post award perioJ.--High Court reducing interest rate from 12% to 6% from dace of award till date of payment--Currectness of-Held: Arbitrator has power tu grant interest at all three stages viz. pre-reference period, pendente lite and post award period provided the rate is reasonable---Award ww made rule of the Court and was upheld by civil cuurt, thus direction of arb1tratur not arbitrary or unreasunable--Hence, order uf High Court set aside.
Where later benches applied it
- 2025 I.K. Merchants Pvt. Ltd. & Ors. v. The State of Rajasthan & Ors.
- 2018 Vedanta Ltd. v. Shenzen Shandong Nuclear Power Construction Co. Ltd.
Of those, 2 referred to
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