Indian Hume Pipe Co.Ltd vs State Of Rajasthan

The Supreme Court held that under Section 39 of the Arbitration Act, 1940, arbitrators possess the authority to award interest at all stages, including pre-reference, pendente lite, and future interest. The Court found that the learned Single Judge erred in denying the appellant pendente lite and future interest despite the arbitrators having awarded it. The appeal was allowed, and the orders of the lower courts were set aside, affirming the arbitrators' award regarding interest.