GROWTH TECHNO PROJECTS LIMITED Vs. ISHWAR INDUSTRIES LIMITED

JUDGEMENT

(1.) This is a petition under Sec. 36 of the Arbitration and Conciliation Act, 1996, (hereinafter referred to as "Act") read with Order XXI Rule 10 and 11(2) of the CPC, seeking enforcement of the arbitral award dtd. 17/7/2007 passed by the learned Arbitrator, Justice P. K. Bahri (Retd.), in Arbitration Case No. 380/2004, titled as "M/s Ishwar Industries Ltd. v. M/s Growth Techno Projects Ltd."

(2.) The operative portion of the arbitral award reads asunder:

(3.) The petitioner/decree holder, by way of the present petition, avers that the respondent/judgment debtor, has not made any payment towards the arbitral award till date and thus, stands liable to pay the awarded amount along with an interest of 12% per annum. The decree holder further submits that at the time of filing of the present petition, a total of 191 months have passed and therefore, calculating the interest @ 12% per annum, the decree holder is entitled to a total amount of Rs.8,90,79,455.00.