Union Of India vs M/S Bright Power Projects(I) P.Ltd

The Supreme Court held that the Arbitral Tribunal has the authority to award interest even when a contract explicitly states that no interest shall be paid, as per Section 29 of the Arbitration Act, 1940. The Court affirmed the Tribunal's decision to award interest from the date of reference to the date of the award, referencing the precedent set in Secretary, Irrigation Department, Government of Orissa v. G.C. Roy (1992) 1 SCC 508. The appeal against the High Court's dismissal of the Arbitration Petition was therefore rejected, upholding the award of interest.