Case Law Analysis
|Supreme Court of India
Express Contractual Bar Overrides Section 31(7) Interest Power | NEEPCO v. Astra Construction : SC
The Supreme Court held that an express contractual bar on interest (Clause 54 GCC) absolutely bars pre-reference interest, overriding Section 31(7) of the Arbitration Act. It upholds party autonomy, affecting contractors and employers drafting GCC terms.