LAVANYA ASSOCIATES Vs. MMTC LIMITED AND MR JUSTICE M ABDUL HADI (RETIRED JUDGE, MADRAS HIGH COURT) SOLE ARBITRATOR

JUDGEMENT

(1.) 0. P. No. 448/2002 has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') to set aside the award dated 1.11.2002 and to allow the counter claim of the petitioner amounting to Rs. 2,09,56,376/- together with interest with effect from 1.10.1998 till the date of realisation.

(2.) 0.P. No. 449/2002 has been filed under Section 34 of the Act, 1996 to set aside the award dated 1.11.2001 and to allow the counter claim of the petitioner amounting to Rs. 3,76,55,400/- together with interest with effect from 1.10.1998 till the date of realisation.

(3.) In the above two petitions, the petitioners are challenging the common award passed by the 2nd respondent arbitrator dated 1.11.2001. In the common award dated 1.11.2001, the 2nd respondent allowed the claim of the first respondent, in full against which 0.P. No. 448/2002 has been filed by the petitioner partnership firm. In respect of the other claim of the 1st respondent MMTC against another partnership firm and its partners, the 2nd respondent has allowed the claim in full except an amount of Rs. 25 lakhs. Hence, against this portion of the award, 0.P. No. 449/2002 was filed by the petitioners.