MALU SLEEPERS LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) Aggrieved over the Award passed by the sole Arbitrator, the present Petition has been filed challenging the Award.

(2.) Brief fact leading to file this Original Petition is as follows:

(3.) It is the case of the Respondent that in pursuant to the direction to the Railway Board, the Claimant and Respondent have mutually agreed to implement the revised norms with effect from 1/10/1996 and also agreed that the said agreement shall be varied and/or added to in the manner hereinafter mentioned. Accordingly, Rider Agreement with revised input norms and revised formula for price variation was executed with implementation effective from 1/10/1996. There is no dispute regarding the date of implementation of revised norms. Both Claimant and Respondent agreed that the date of implementation of revised norms is 1/10/1996 and disputed the claim in entirety. The Respondent also raised counter claim of Rs.88,077,746.00 being the money excessively paid and lying with the Claimant.