CHANDOK MACHINERIES Vs. S.N. SUNDERSON AND CO.

JUDGEMENT

(1.) This petition under Section 34 of the Arbitration and Conciliation Act, 1996, (hereinafter referred to as the "Act") has been filed by the petitioner challenging the Arbitral Award dated 12th June, 2017 passed by the Arbitral Tribunal consisting of three Arbitrators in Arbitration Case No.20017/ANL adjudicating the disputes that have arisen between the parties in relation to the two Memorandum of Understanding(s) dated 1st September, 2014.

(2.) By way of the Impugned Award, the Arbitral Tribunal has inter alia directed the petitioner to pay to the respondent a sum of Rs. 2,27,36,444.88, subject to the petitioner raising an appropriate invoice for the amount of Rs. 1,32,99,020.11. The Arbitral Tribunal has further directed the petitioner to pay interest @ 9% per annum from the last date of dispatch.

(3.) The learned senior counsel for the petitioner contends that in terms of Section 29A of the Act, the mandate of the Arbitral Tribunal had terminated on 13th June, 2017. He submits that the Impugned Award, though has a typed date of 12th June, 2017, was passed only on 28th June, 2017, which is the date mentioned under the signatures of one of the Arbitrators and, therefore, the Impugned Award has been passed after the mandate of the Arbitral Tribunal had terminated and the same cannot be given effect to.