India | Mediation
9/14/09, 10:12 pm
Legal Question
We are an EPC contracting company. In one of the contracts, we filed for arbitration. My query is-- Can the arbitrator order the respondent to pay interest compounded annually on the payment due?
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9/15/09, 10:21 pm
Legal Answer
Rates of Interest ( compounded or simple interest) can be awarded if it is in accordance with the agreement.
Other wise at interest rates as found reasonable up to the date of the award.
S.Seshadri
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