National Highways Authority Of India vs M/S Ncc Knr Jv

The Supreme Court held that the respondent must pay interest at the rate of 12% per annum on the amount of Rs.70,65,039/- from the date of withdrawal until actual payment, as the respondent had enjoyed the benefits of the amount awarded by the Arbitral Tribunal. The Court emphasized that the entitlement of the respondent to the amount was negated by its earlier judgment dated 24.04.2015, which set aside the award concerning Claim No. 8. The Court directed the payment to be made within six weeks.