JAGAN NATH ASHOK KUMAR Vs. DELHI DEVELOPMENT AUTHORITY

JUDGEMENT

(1.) In view of the disputes between the parties, matter was referred to the Arbitrator who rendered his award dated 22nd March 1991 and claims in the sum of Rs.3,57,295/- were awarded. As far as interest is concerned for which claim no.10 was preferred by the decree-holder, learned Arbitrator awarded only future interest. Both the parties filed objections to this award. Objection of the decree-holder was against non grant of pre- suit and pendente lite interest. Objections of both the parties were rejected and the award was made rule of the court till the date of decree and thereafter till the date of payment. As per the decree drawn in the aforesaid manner, it is not in dispute that a sum of Rs.5,18,114/- became payable as on 9th December 1994 and entire decretal amount as paid.

(2.) However, decree-holder filed appeal against dismissal of his objections before the Division Bench wherein he had claimed, as aforesaid, pre-suit and pendente lite interest. The Division Bench set aside the order of the learned Single Judge and remitted the matter back to the learned Arbitrator for deciding this issue afresh. After fresh consideration, the learned Arbitrator rendered his award dated 25th September 1997 awarding pre- suit and pendente lite interest @ 15% per annum. In fact, the Arbitrator even computed the amount at the aforesaid rate and the for the aforesaid period and came to the conclusion that a sum of Rs.2,03,211/- was payable on this account. It is clear from para 11 of the award which reads as under:- Now, therefore, in consideration of the Claimants claims as remitted to me by the Hon'ble High Court of Delhi I hereby award that:-

(3.) When this award was filed, both the parties again filed objections. Objections of the judgment-debtor/DDA were against grant of the interest whereas the decree-holder contended that interest should have been granted from a prior date. Objections of the DDA were dismissed and that of decree-holder allowed and the award was modified by awarding interest with effect from 8th April 1985 till the date of the award and not from 3rd June 1987, as awarded by the Arbitrator! and the modified award was made rule of the Court. Thus, with this modification the decree- holder became entitled to interest for the period from 8th April 1985 to 2nd June 1987 as well on the" principal amount awarded earlier, namely, 3,57,295/-.