Report No. 76
4.18. First period.-
The first period, as already stated,1 is governed by the substantive law, including the Interest Act, 1839. The arbitrators" power to determine the substantive question in dispute must include this power also. Of course, section 29 of the Arbitration Act carries with it the negative import2 that it shall not be permissible for the court to award interest on the principal sum adjudged by an award for any period prior to the date of the passing of the decree. But the arbitrator's power is as stated above.
1. Para. 4.17, supra.
2. Srikantia & Co. v. Union of India, AIR 1967 Born 350 (351) paras. 6, 7, 9 (Tulzapurkar, J.).