NAV BHARAT NIRMAN CO Vs. UNION OF INDIA

JUDGEMENT

(1.) This order shall dispose of Appellant's application under Order 47 Rule 1 read with Section 151 of the Code of Civil Procedure for review of order dated 28.2.2005 whereby the appeal of the Appellant being EFA(OS) No.23/2004 was dismissed against the order dated 12.5.2004 passed by the learned Single Judge in Execution Petition No.2/2002 determining the amount payable to the Appellant as Rs.74,217.00 being simple interest @ 14% from 1/11/2001 to 24/8/2002 only.

(2.) The Appellant had executed the work of making arrangement for RDC-97 in terms of an agreement which was executed in 1997. The disputes had arisen between the Appellant and the respondent entailing appointment of Dr.Y.P. Dangey as arbitrator who had published an award on 25/1/2001. The learned Arbitrator gave an award of Rs.4 lakhs with 14% simple interest from 1/1/1998 till payments. The Appellant was dissatisfied with the award and filed an application under Section 33 of the Arbitration Act, 1940 leading to an additional award and thus a total amount of Rs.6,53,800.00 was awarded to the Appellant with 14% simple interest from 2/6/1997 till the date of payment.

(3.) Since the respondent did not pay the amount awarded to the Appellant, warrant of attachment were issued and an amount of Rs. 10,58,066.00 was received from the bank in pursuance to the warrants of attachment issued by the Court. This amount of Rs. 10,58,066/- comprised of awarded amount of Rs.6,53,800.00 awarded in favor of Appellant and 14% simple interest till 1/11/2001.