Accounting of of Interest Cost paid on original claim by contractor -arbitration award/ court order
This query is : Resolved
Anupam Maiti
(Querist)
16 August 2021
It is informed that , arbitration award/ court order in respect of a claim by contractor has been passed in favour of the contractor in respect of capital works and such arbitration award/ court order has been challenged in a court of law/ higher court, the amount of arbitration award/ court order (including interest till the date of award, if any) becomes the claim amount for the purpose of maintenance of Register of Claims .
Pl advice whether interest till the date of award on the amount of arbitration award/ court order is capitalised or not.
Pl advice whether interest till the date of award on the amount of arbitration award/ court order is capitalised or not.
CA R SEETHARAMAN
(Expert)
16 August 2021
Such interest can be capitalised till the completion of the capital works.
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