U.O.I vs M.P TRADING & INVESTMENT RAC. CORP. LTD

The Supreme Court held that under Section 34 of the Arbitration and Conciliation Act, 1956, once the award amount is deposited in court, the liability for post-award interest ceases. The Court clarified that the deposit constitutes payment to the decree-holder, thus extinguishing the liability for interest from the date of deposit. The Court modified the High Court's judgment, allowing interest as per the award only until the principal was deposited, and granted interest on any balance amount not deposited as per the award.