Question

As per the of the Arbitration & Conciliation Act, 1996, what is the rate of interest that a sum directed to be paid by an arbitral award shall carry, unless the award specifies otherwise?

A The same rate as the current rate of interest prevalent on the date of award
B One per cent higher than the current rate of interest
C Two per cent higher than the current rate of interest
D The rate is fixed and not linked to the prevalent interest rate
E The rate is determined by mutual agreement of the parties involved
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