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State of Orissa Vs. Shri B.K. Routray

Court : Supreme Court of India

Subject : Arbitration

Acts : Interest Act, 1978 - Sections 2 and 6(2)

Reported in : AIR1999SC1101a; 88(1999)CLT274(SC); JT1999(1)SC58

present case, is from 31.3.1977 to 20.3.1980. This entire period is prior to coming into force of the Interest Act, 1978. The Interest Act, 1978 came into force during the pendency of the reference and the award is made … the date of submission of claim to arbitration.4. In this connection, we would also like to refer to Section 6(2) of the Interest Act, 1978 which provides as follows :Section 6(11)....Section 6(2): The provisions of this Act shall

State of Orissa Vs. B.K. Routray

Court : Supreme Court of India

Subject : Arbitration

Acts : Interest Act, 1978 - Sections 2 and 6(2)

Reported in : AIR1999SC1101; [1999]95CompCas808(SC); 1999(1)SCALE96; (1999)2SCC58; [1999]1SCR71; 1999(1)LC267(SC)

present case, is from 31.3.1977 to 20.3.1980. This entire period is prior to coming into force of the Interest Act, 1978. The interest Act, 1978 came into force during the pendency of the reference and the award is made … the date of submission of claim to arbitration.4. In this connection, we would also like to refer to Section 6(2) of the Interest Act, 1978 which provides as follows ;Section 6(1)...Section 6(2) : The provisions of this

Motandas Nandiram Vs. Municipal Corporation of Greater Bombay

Court : Mumbai

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 29; Interest Act, 1978 - Sections 3 and 6(2)

Reported in : 1992(3)BomCR74

passing of the decree if the award is made prior to 19th August 1981 i.e. the date when Interest Act, 1978 came into force.2. In Srikantia & Co. v. Union of India, : AIR1967Bom347 , Tulzapurkar, J., held that … Interest Act, 1978, the judgment of Tulzapurkar, J., in the case of Srikantia & Co. (supra) holds field.5. Section 6(2) of the Interest Act, 1978 provides that the said Act shall not apply to any suit or other

M/s. Mascon Multiservices and Consultants Pvt. Ltd. Vs. Bharat Oman Re ...

Court : Mumbai

Subject : Land Acquisition

(The Petroleum Minerals and Pipelines (Acquisition of Right of User in Land) Act, 1962); Land Acquisition Act, 1882; Interest Act, 1978, Section 3(1)(b) - Arbitration Petition - Petitioner’s claims for providing services to obtain statutory clearances from various authorities for … was given as bank guarantee under Clause 14.1 relating to security deposit in the agreement between the parties. 6. Under Clause 14.4 no interest was to be payable under security deposit. 7. The respondent would contend that

M. Paramasivam Vs. Food Corporation of India, Nellore

Court : Andhra Pradesh

Subject : ArbitrationContract

Acts : Indian Contract Act, 1872 - Sections 73; Arbitration Act, 1940 - Sections 29 and 30; Code of Civil Procedure (CPC), 1908 - Sections 34; Interest Act, 1978 - Sections 1, 2, 3 and 6; Negotiable Instruments Act - Sections 30 and 80; Sale of Goods Act - Sections 61(2); Interest Act, 1839 - Sections 1; Constitution of India - Articles 141

Reported in : AIR1989AP124

Interest could become payable also, for periods prior to arbitration, under the Interest Act, 1839 or under the Interest Act, 1978 which has come into force from 19-8-81. These, generally, are the provisions of the substantive law enabling payment … unlike the earlier Interest Act 1839 which contained only one section. It is important to note that under Section 6 of the Act, the provisions of that Act shall not apply to any suitor other legal proceedings pending

Assam State Electricity Board and ors. Vs. Shanti Conductors Pvt. Ltd. ...

Court : Guwahati

Subject : Commercial

Acts : Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 - Sections 4, 5, 6 and 6(1)

right for filing a suit merely for recovery of interest, it had so provided. Section 3 of the Interest Act, 1978 is in the following terms : 'Section 3. Power of court to allow interest. - (1) In any … suit for mere recovery of interest under the Act was not maintainable in view of the provisions of Section 6 of the Act. According to the learned counsel for the appellant, on the date of filing of the

Santosh Kumar Gupta Vs. India Life Insurance Corporation

Court : Rajasthan

Subject : Insurance

Acts : Insurance Act, 1938 - Sections 45; Life Insurance Corporation Act, 1956 - Sections 6; Interest Act, 1978 - Sections 1; Code of Civil Procedure (CPC) - Sections 34

Reported in : 2001ACJ1834; AIR2000Raj327; 2000(4)WLC311

justifiable reasons to withhold or repudiate the same hence as per Section 34, CPC so also under the. Interest Act, 1978 they are entitled to claim interest.10. Shri Maloo, learned Counsel for the appellant added that the trial Court … the suit of the plaintiffs for their claims of payment of assured sum to the tune of Rs. 64,332/- plus bonus accrued on three policies in question, but declined to grant interest on the decretal amount. Hence,

Amar Industries Vs. Union of India (Uoi)

Court : Delhi

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 15 to 17, 29, 30 and 33; ;Code of Civil Procedure (CPC) - Sections 34; ;Interest Act, 1978 - Sections 2 and 3(1); ;Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; ;Indian Contract Act, 1972 - Sections 6 and 6(2)

Reported in : 2006(2)ARBLR253(Delhi); 2006(88)DRJ361

judgment was that an Arbitrator has the jurisdiction to award pre-reference interest in cases, which arose after the Interest Act, 1978 had become applicable. Further it was held that the power of the Arbitrator to award interest for the … by the petitioner the same should be deemed to have been revoked in view of the provision of Section 6 of the Indian Contract Act, 1972. The said Section is as under:'6. Revocation how made. - A proposal

Bharat Engineering Enterprises Vs. D.D.A. and anr.

Court : Delhi

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 14, 30 and 33; Interest Act, 1978 - Sections 3

Reported in : 2007(1)ARBLR90(Delhi); 136(2007)DLT379

not justified. Besides, the respondent views the rate of interest so awarded as being against the provisions of Interest Act, 1978 and seeks the award being appropriately modified.6. In reply to the objections, it was pleaded that appreciation of … entered upon the reference and made his award on 15th June, 1993.3. On petitioner filing instant petition under Section 14 of the Arbitration Act, pursuant to a direction, the arbitrator filed the award and the arbitration proceedings.4.

Soorajmull Nagarmull Vs. Jute Corporation of India Ltd.

Court : Kolkata

Subject : Arbitration

Acts : Arbitration and Conciliation Act, 1996 - Sections 3(17), 20, 31(7) and 34; ;Interest Act, 1978 - Section 6(2)

Civil Procedure.38. The learned Counsel for the appellant urged that in the instant case the provisions of the Interest Act, 1978 (henceforth called I.A., 78) cannot be attracted.39. Before referring to those decisions, the Court proposes to examine this … It is common ground that JCI in respect of all those six contracts separately filed six petitions under Section 20 of Arbitration Act, 1940, (hereinafter referred to as said Act) for reference of disputes and differences between … Counsel. This submission was sought to be developed by referring to Section 6(2) of I.A., 78. The said Sub-section (2) is set out below :'(2).