COAL LINKER Vs. COAL INDIA LTD

JUDGEMENT

(1.) The appellant herein, a proprietary concern, was given a work on or about 5-7-1982 by Coal India Limited (hereinafter referred to as "the respondent") for transportation of coal/coke by road to the respondents stockyard at Kanpur and also for operation of the said stockyard.

(2.) Pursuant to such work order a formal agreement was entered into between the appellant and the respondent and the said agreement contained an arbitration clause. As disputes and differences arose between the parties, a reference was made to the sole arbitrator for resolving the dispute and an award dated 30-4-1993 was passed awarding an amount of Rs. 51,77,600/- in favour of the appellant. Appellant was granted interest of Rs. 11,39,560/- calculated at the rate of 15% from October, 1990 to April, 1993. Interest was also granted for the pre-reference period to the extent of Rs. 10,97,250/- but in the award no interest was granted from the date of the award till the date of the decree.

(3.) Challenging the said award, the respondent filed an application, but the same was dismissed by the learned single Judge of the Calcutta High Court by a judgment and order dated 3-11-1995. Thereafter, an appeal was preferred before the Division Bench of the Calcutta High Court and the Division Bench also dismissed the appeal of the respondent on 25-4-1996. Thereafter, a decree was passed by the learned single Judge of the Calcutta High Court confirming the said award. The said decree directed payment of interest @ 18% per annum from the date of the said award till the date of the decree.