Arbitration & Conciliation Act, 1996–Sec. 31(7)–Arbitration agreement–Clause 13–Interest on award–No interest was payable on the amount of earnest money, security deposit and the amount payable to contractor, in view of Clause 13 of agreement–Arbitral Tribunal awarded the interest by going beyond this clause–Sec. 31(7) (a) clearly provides that the interest would not be payable unless otherwise agreed by the parties–Impugned award of interest deserves to be set aside.
