UNION OF INDIA Vs. MEHTA CONSTRUCTION CO

JUDGEMENT

(1.) THIS is a petition to set aside an award dated 15th October 1987 made by Arbitrator Shri G. D. Chopra. By the said award the learned Arbitrator has directed the petitioner to pay a sum of Rs. 1,69,616. 12 p. with interest at the rate of 12 per cent per annum with effect from 11-6-1985 till the date of payment or decree whichever event may be earlier, to the claimants in full and final settlement of all the claims and counter claims referred.

(2.) FOR the reasons set out hereinafter, 1 delete the interest awarded by the Arbitrator for the period from 11-6-1985 until 15-10-1987 and maintain and affirm the award in respect of the principal amount of Rs. 1,69,616. 12 and interest on the said amount at the rate of 12% per annum from the period commencing from 16-10-87 till passing of the decree.

(3.) DISPUTES and differences arose between the parties regarding the payment of the final bill. Ultimately Mr. Chopra was appointed as an Arbitrator in accordance with the arbitration clause being Clause No. 25 contained in the said agreement. The learned Arbitrator decided various claims and counter claims and made his award on 15-10-1987.