(1.) The petitioner, named above, filed a petition under Sections 14 & 17 of the Arbitration Act, 1940 with the prayer that Shri V. Nainani (respondent No. 5), the arbitrator be directed to file the award and the proceedings in the court and that the award made by the arbitrator Shri V. Nainani be made rule of the court. The above petition was registered as Suit No. 1253-A/91. The arbitrator Shri V. Nainani separately filed the award alongwith the proceedings and the same was registered as Suit No.] 553/91. Since the subject matter of both the above mentioned suits i.e., Suit No.1253-A/91 & 1553 was same i.e., the award made by the arbitrator Shri V. Nainani, the proceedings in both the suits were directed to be consolidated by the learned predecessor of this court vide order dated 5.12.1995.
(2.) After the filing of the award together with proceeding by the arbitrator, statutory notice was issued to the parties directing the parties to file objections, if any, within the prescribed time limit. No objections to the award have been filed on behalf of the petitioner. However, the respondent UOI have filed objections (IA 9884/91) to the award. The petitioner filed reply to the objections and on the pleadings of the parties the learned predecessor of this court vide order dated 5.12.1995 framed the following issues :
(3.) I have heard the learned counsel for the parties at length and have also carefully gone through the document/material on record and my findings are as under Issue Nos. 1 & 2