Arbitral Tribunal Cannot Grant Pre-Award and Pendente Lite Interest When Contract Prohibits It: Supreme Court

In an important decision concerning arbitration law and contractual obligations, the Supreme Court of India on 9 March 2026 ruled that an arbitral tribunal cannot grant pre-award or pendente lite interest when the contract between the parties expressly prohibits such payment. The judgment was delivered by a bench comprising Justice Sanjay Karol and Justice Vipul M Pancholi, which set aside part of the decision of the Allahabad High Court that…