CMI LIMITED Vs. BHARAT SANCHAR NIGAM LTD

JUDGEMENT

(1.) The challenge in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 ("the Act") is to the arbitral award dated 28.08.2003 of Sh. S. Maity, sole arbitrator. The challenge is limited to the rejection of the petitioners claim for interest.

(2.) The petitioner and the respondent No. 1 had entered into an agreement contained in purchase order dated 08.11.1996, where under the petitioner agreed to supply PIJF underground cable to the respondent, BSNL.

(3.) Disputes arose between the parties, which were referred to arbitration of Sh. S. Maity, General Manager (Planning), Calcutta Telephones, BSNL. The learned arbitrator rendered his award dated 28.08.2003, whereby he awarded certain amounts in favour of the petitioner/claimant. However, the award provided that no interest needs to be paid to the petitioner by W.B. Telecom Circle. The petitioner received the said award soon after its making and the respondent also made payment to the petitioner in terms of the award.