KARNATAKA NEERAVARI NIGAM LIMITED (A COMPANY INCORPORATED UNDER THE COMPANIES ACT) 4TH FLOOR. COFFEE BOARD BUILDING, DR. B.R. AMBEDKAR VEEDHI, BANGALORE-560001 Vs. M/S. SHETTY CONSTRUCTION CO. PVT. LTD., 30. ASHOKNAGAR, HUBLI REPRESENTED BY ITS

JUDGEMENT

(1.) THIS appeal under Section 37(1) of the Arbitration Act, 1940 (hereinafter referred to as the Act') is filed by the second respondent in Arbitration Case No. 1/1993 on the file of the Civil Judge (Sr.Dn). Gokak being aggrieved by the judgment and decree dated 11 -10 -2006 wherein the application filed by the applicant in the said case (first respondent herein) for accepting the award dated 1 -3 -2000 and to pass a decree by the Court has been accepted by over -ruling the objections raised by the appellant herein under Section 30 and 33 of the Arbitration Act, 1940 and decreeing the award passed by the Arbitrator dated 1 -3 -2000 without any modification and further with a direction to respondents including the appellant herein to pay interest at the rate of 13% p.a. from the date of decree of the Court till the date of payment. The material facts leading up to this appeal with reference to the rank of the parties before the trial Court are as follows:

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