Arbitration and Conciliation Act, 1996, Section 31(7)(b)

Arbitration and Conciliation Act, 1996—Section 31(7)(b)—Word ‘payment’—The word ‘payment’ may have different meaning in different context but in the context of Section 37(1)(b); it means extinguishment of liability arising under the award—It signifies satisfaction of the award—The deposit of the award amount into the Court is nothing but a payment to the credit of the decreeholder.


File Name:- SC_MARCH 2012_7