MOHAN LAL KAPOOR Vs. JAWAHAR LAL KAPOOR

JUDGEMENT

(1.) SUBJECT matter of the present execution petition is the compromise award dated 26th May, 2005. As issues with regard to interpretation of the said award arise for consideration, I am reproducing the same for the sake of convenience:- <FRM>JUDGEMENT_1839_ILRDLH17_2008Html1.htm</FRM>

(2.) THE present execution petition has been filed by Mr. M. L. Kapoor, who in terms of the above award was entitled to payment of Rs. 2,69,23,076/ -. It is admitted case of the parties that full payment of this amount has been made by mr. J. L. Kapoor as per details given below:- <FRM>JUDGEMENT_1839_ILRDLH17_2008Html2.htm</FRM>

(3.) MR. M. L. Kapoor claims interest @ 18% per annum on the ground that Mr. J. L. Kapoor did not pay the installments in time. It is stated that the award itself specifically stipulated that the first installment was to be paid within 20 days from 20th May, 2005 and balance two installments as per amounts specified were to be paid within 120 days thereafter and three months after the second installment respectively. It is accordingly submitted that payment of rs. 53,84,615/- had become due and payable as per the compromise award of 10th june, 2005, Rs. 1,61,53,846/- became due and payable on 8th October, 2005 and rs. 53,84,616/- became due and payable on 8th January, 2006. It is admitted case of the parties that the first installment was paid on 24th May, 2006, the second installment was paid on 13th December, 2006 and the third installment was paid on 7th September, 2007.