UNION OF INDIA Vs. KRISHAN KUMAR MADHOK

JUDGEMENT

(1.) By way of this appeal, the appellant has challenged the order passed by the learned Single Judge dated 11.2.1997 by which the objections against the award filed by the appellant were dismissed. In the appeal before us the appellant has restricted his grievance with regard to grant of interest by the Court as well under the Award made on 20.9.2000.

(2.) Briefly stating the facts, certain disputes arose between the parties and the matter was referred for arbitration and an interim Award was made on 30.6.1988. The interim Award did not grant any interest and it was left to the appellant to calculate the amount due on said claims by the Arbitrator. That interim Award was challenged by the respondent by way of filing objections on 11.2.1997. On the objection of the respondent, the learned Single Judge of this Court vide its order dated 11.2.1997 held as under:

(3.) Therefore, fact remains that no quantified figure was available on which interest could be levied from 30.6.1988. We must add that the fault was entirely of the appellant as the appellant even after supplying the basis for calculation did not pay the amount to respondent but in view of the fact that the appellant has now accepted the Award and deposited a sum of Rs.16,83,751.61 with the Registry of this Court pursuant to the Order dated 9.8.2002 and the same has also been withdrawn by the respondent in October, 2002, the respondent shall be entitled for interest @12% from 11.2.1997 when the Award was made Rule of the Court and a decree in terms thereof was passed leaving the calculation to be done by the Arbitrator which has been subsequently done by the Arbitrator in the year 2000. The appellant would pay interest on the sum of Rs. 16,83,751.61 from 11.2.1997 till the amount was deposited by the appellant in this Court i.e. 9.8.2002. The Order dated 11.2.1997, passed by the learned Single Judge is modified to that extent.