Recently, a three judge Bench of the Supreme Court of India has held in Hyder Consulting (UK) Ltd. v. State of Orissa that a tribunal under Section 31(7) of the Arbitration and Conciliation Act, 1996 is empowered to award interest on any sum payable under the Award and such "sum" may include pre-award interest as well.
Interestingly, there are three individual opinions on the issue. While AM Sapre, J. concurred with SA Bobde, J., the former rendered a separate opinion. HL Dattu, CJI delivered the minority view.
The decision can be accessed from this link (pdf).
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