(1.) By this Order, a composite application, IA No. 7002/93 filed by the petitioner, seeking modification of the Award dated 28-8-1992 passed by Shri Farooq Saulat as Arbitrator, under section 15 of the Arbitration Act, 1940 (for short "the Act") and also for condonation of delay in filing this application is being disposed of.
(2.) Briefly, the facts are that the execution of certain works at Manari Bhati Unit, P.O. Dharasu, Distt. Uttarkashi (UP) was awarded to the petitioner by the respondent under four contracts/Orders No. 599/5203 dated 16-2-1983, No. 2172 dated 1-4-1984, No. 11345/150 dated 12-4-1984 and No. 3691/2375 dated 23-7-1986.
(3.) Disputes arose between the parties. The contracts contained arbitration agreement and as provided in the contract the Chairman and Managing Director of the respondent appointed Shri Farooq Saulat as an Arbitrator on 5-10-1987. The Arbitrator entered upon the reference. Claims and counter claims were filed by the parties and after hearing the parties, the Arbitrator gave his award dated 28-8-1992 awarding to the claimant/petitioner a sum of Rs. 4, 94,012.00 and also awarded interest @ 16.5% per annum from 28th August, 1992 till date of payment of award or decree whichever is earlier.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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