Supreme Court of India · 2022-01-07
UHL POWER COMPANY LTD. vs THE STATE OF HIMACHAL PRADESH MULTI PURPOSE PROJECTS AND POWER DEPARTMENT SECRETARY
- Citation / case number
- SC 2011/32176
- Court
- Supreme Court of India
- Petitioner
- UHL POWER COMPANY LTD.
- Respondent
- THE STATE OF HIMACHAL PRADESH MULTI PURPOSE PROJECTS AND POWER DEPARTMENT SECRETARY
- Author
- HON'BLE MS. JUSTICE HIMA KOHLI
- Bench
- HON'BLE THE CHIEF JUSTICE, HON'BLE MR. JUSTICE A.S. BOPANNA, HON'BLE MS. JUSTICE HIMA KOHLI
Judgment text excerpt
The Supreme Court addressed appeals concerning the disallowance of pre-claim interest in an arbitration award favoring UHL Power Company Ltd. The court examined the grounds for awarding interest from the date expenses were incurred until the claim was lodged. Ultimately, the court upheld the award of compound interest but clarified the conditions under which pre-claim interest could be granted, leading to a nuanced interpretation of the Arbitration and Conciliation Act.