Case of Union of India vs Larsen & Tubro Limited, SC Judgement Dated 27th February 2026. The apex court held that once the parties had contractually agreed to exclude interest, Arbitral Tribunal, being a creature of the contract, could not award pre-award or pendente lite interest even in the guise of “compensation”. However, post-award interest stood on a different footing. The Arbitral Tribunal was justified in granting post-award interest.