Case Comment: South Delhi Municipal Corporation v. Radhey Shyam
Journal of Law & Public Policy, Volume II, Issue 1, pp. 255-264
11 Pages Posted: 21 Jul 2015
Date Written: April 22, 2015
In South Delhi Municipal Corporation v. Radhey Shyam, the Delhi High Court had to consider the question as to whether a party could save on post-award interest in case of appeal against a decision rejecting a challenge to the arbitral award by merely depositing the Award Amount in the court. The court held that deposit of the Award Amount in the court in such proceedings did not amount to payment to the Respondent and hence, the Petitioner was liable to pay post-award interest even after the date of deposit. This decision is in direct contradiction to the decision of the Supreme Court in HP Housing & Urban Development Authority v. Ranjit Singh Rana. This paper analyses the former decision and argues that it lays down the correct law.
Keywords: Interest, Indian Arbitration and Conciliation Act, 1996, Ranjit Singh Rana, Post Award Interest, Challenge, Arbitral Award
JEL Classification: J52, K41, K39
Suggested Citation: Suggested Citation