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    Question

    A sum directed to be paid by an arbitral award shall

    carry interest:
    A @4 % higher than the current rate of interest prevalent on the date of award, from date of award till date of payment Correct Answer Incorrect Answer
    B @12 % higher than the current rate of interest prevalent on the date of award, from date of award till date of payment Correct Answer Incorrect Answer
    C @ 2% higher than the current rate of interest prevalent on the date of award, from date of award till date of payment Correct Answer Incorrect Answer
    D @ 24% higher than the current rate of interest prevalent on the date of award, from date of award till date of payment Correct Answer Incorrect Answer
    E @ 16 % higher than the current rate of interest prevalent on the date of award, from date of award till date of payment Correct Answer Incorrect Answer

    Solution

    Section 31(7) of the Arbitration & Conciliation Act, 1996 A sum directed to be paid by an arbitral award shall, unless the award otherwise directs, carry interest at the rate of two per cent. higher than the current rate of interest prevalent on the date of award, from the date of award to the date of payment.

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