UNION OF INDIA Vs. JAYASWALS NECO LTD

JUDGEMENT

(1.) The appellant (UOI) and the respondent (JNL) entered into a contract bearing No.99/Track-II/22/14/8/70248 dated June 18, 1999 in terms of which JNL agreed to supply and the railways agreed to purchase 7 lakh pieces of SGCI inserts. The railways short closed the contract and that gave birth to a dispute between the parties. The contract contained an arbitration clause and, accordingly, the disputes were referred to arbitration. The arbitration proceedings culminated in an award dated October 09, 2002 in favour of JNL; the operative parts of which is reads as under:-

(2.) Challenge to the award by the railways failed before the learned Single Judge of this Court, the Division Bench as also the Supreme Court.

(3.) Jnl sought execution seeking recovery of Rs. 1,12,01,529.32 which included the sum awarded together with interest thereon till February 17, 2010.