Post-award interest – Discretion of Arbitrator -- Section 31(7)(a) confers a wide discretion upon the arbitrator in regard to the grant of pre-award interest -- When a discretion has been conferred on the arbitrator in regard to the grant of pre-award interest, it would be against the grain of statutory interpretation to presuppose that the legislative intent was to reduce the discretionary power of the arbitrator for the grant of post-award interest under clause (b) -- Clause (b) only contemplates a situation where the arbitration award is silent on post-award interest, in which event the award-holder is entitled to a post-award interest of eighteen percent.

(SC) Decided on : 01.09.2022