B.L. Gupta Construction (P) Ltd vs Bharat Cooperative Group Housing ...

The Supreme Court held that the High Court's denial of pre-reference and pendente lite interest was contrary to the precedent set in N.C. Budharaj's case, which established that such interest is generally permissible unless expressly waived. The Court reinstated the entitlement to pre-reference interest and clarified that the discretion under Section 34 of the Code of Civil Procedure, 1908 regarding pendente lite interest must be exercised judiciously. The appeal was allowed, modifying the High Court's judgment to grant the appellant the full interest as per the original award.