MORGAN SECURITIES AND CREDITS PVT. LTD. vs VIDEOCON INDUSTRIES LTD.

The Supreme Court addressed the issue of whether an arbitrator has the discretion to grant post-award interest solely on the principal sum under Section 31(7)(b) of the Arbitration and Conciliation Act, 1996. The court upheld the arbitrator's decision to award interest on both the principal and the overdue amounts, emphasizing the importance of ensuring fair compensation for the aggrieved party. The appeal was dismissed, affirming the High Court's ruling that supported the arbitrator's award.