From Arbitration tribunal to I-T returns, here are the key court orders

A weekly selection of key court orders

Arbitral tribunal can award interest 

An arbitration tribunal has the power to award interest on the money kept out of the reach of a party during the period from the start of the arbitration until the award is made. “The liability for interest during the period does not arise from any term of the contract, or during the terms of the contract, but in the course of determination by the arbitrators of the losses or damages that are due to the claimant,” the Supreme Court stated in its judgment, Raveechee & Co vs Union of India. “Specifically, the liability to pay