Jaiprakash Associates Ltd. ... vs Tehri Hydro Development Corporation ...

The Supreme Court addressed the issue of whether arbitrators could award interest under the Arbitration and Conciliation Act, 1996, in light of Clauses 50 and 51 of the General Conditions of Contract, which explicitly bar interest on dues. The Court held that despite these clauses, the arbitrators have the authority to grant interest if the agreement does not prohibit it, referencing the precedent set in Board of Trustees for the Port of Calcutta v. Engineers-De-Space-Age. The Court ultimately overturned the High Court's decision that denied interest, affirming the arbitrators' award of interest as valid under the law.