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Supreme Court of India

Oil and Natural Gas Corporation Ltd. v. M/s G & T Beckfield Drilling Services Pvt. Ltd.

Neutral citation
Reported as [2025] 9 S.C.R. 507
Bench Pamidighantam Sri Narasimha and Manoj Misra JJ.
Decided 2 September 2025

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

We are of the view that arbitral tribunal can be denuded of its power to award pendente lite interest only if the agreement/ contract between the parties is so worded that the award of pendente lite interest is either explicitly or by necessary implication (such as in the case of Sayeed & Co. (supra) and THDC First (supra)) barred.

Judgment, page 14

From the headnote

Issue for Consideration Whether Clause 18.1 of the agreement proscribed payment of pendente lite interest on the sum awarded. Headnotes† Arbitration and Conciliation Act, 1996 – s.31(7)(b) – Award of interest pendente lite on the sum awarded – Award affirmed by High Court – Challenge to – Clause 18.1 of the agreement relied upon by the appellant to contend that the agreement between the parties proscribed grant of pendente-lite interest: Held: Arbitral tribunal can be denuded of its power to award pendente lite interest only if the agreement/contract between the parties is so worded that the

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