Supreme Court of India
State of Haryana & Ors. v. S. L. Arora & Company
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7 Supreme Court benches have cited this judgment.
What the Court ordered
In view of the above, we allow this appeal, set aside the judgment of the Executing Court dated 5.9.2007 and the order of the High Court 9.9.2008 and hold that the respondent F was entitled only to simple interest on the principal amount as per original calculation shown in the Execution Petition.
Judgment, page 21
From the headnote
Interest Act, 1978: s. 3 - Interest - Compound interest or Interest upon c interest - HELD: Section 3 enables the courts and arbitral tribunals to award interest from the date of cause of action to the date of institution of legal proceedings or initiation of arbitration proceedings - It does no deal with either pendente lite or future interest- Sub-section (3)(c) of s.3 makes it clear that nothing in the said section shall empower the court or . arbitrator to award interest upon interest -Interest is usually quantified in terms of a percentage of the 'principal' or the 'investment' or the
Authorities it was built on
- 1993 Renusagar Power Co. Ltd. Etc. v. General Electric Co. Etc.
- 2006 Mcdermott Interntional Inc. v. Burn Standard Co. Ltd. and Ors.
- 2001 Central Bank of India v. Ravindra and Ors.
- 1999 Oil and Natural Gas Commission v. M/s M.C. Clelland Engineers S.A.
- 2009 U.P. Cooperative Federation Ltd. v. M/s. Three Circles
Where later benches applied it
- 2012 H.p.housing & Urban Devt.auth.& Anr v. Ranjit Singh Rana
- 2025 Hlv Limited (formerly Known as Hotel Leelaventure Pvt. Ltd.) v. Pbsamp Projects Pvt. Ltd.
- 2025 M/s Interstate Construction v. National Projects Construction Corporation Ltd.
- 2024 North Delhi Municipal Corporation v. M/s S.A. Builders Ltd.
- 2024 M/s D. Khosla and Company v. The Union of India
- 2022 Morgan Securities and Credits Pvt. Ltd. v. Videocon Industries Ltd.
- 2014 M/s. Hyder Consulting (uk) Ltd. v. Governor, State of Orissa through Chief Engineer
Of those, 1 relied on · 5 referred to · 1 overruled
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