THE ASSAM STATE ELECTRICITY BOARD REPRESENTED BY ITS CHAIRMAN vs BUILDWORTH PVT. LTD. REPRESENTED BY ITS DIRECTOR SHRI PRADIP KUMAR SINGH

The Supreme Court addressed the validity of an arbitral award under the Arbitration Act, 1940, specifically examining the applicability of Section 29 regarding the arbitrator's authority to award interest. The Court upheld the merits of the award but reversed the High Court's decision to set aside the interest awarded for the period prior to the date of reference, clarifying that the arbitrator had jurisdiction to award such interest. The Court ultimately ruled in favor of the claimant, Buildworth Pvt Ltd, restoring the full arbitral award including interest.