SUPARNA CHEMICALS LTD Vs. ORIENTAL INSURANCE CO LTD

JUDGEMENT

(1.) THE Petitioner has challenged the interim order dated 24th September, 2008, passed by the Arbitral Tribunal, moved under Section 31(6) of the Arbitration and Conciliation Act, 1996 (for short, the Act). The basic portion of the award/ interlocutory order is as under:-

(2.) THE learned Arbitral Tribunal, after considering the basic fact that the Petitioner is not ready to accept the full and final compromise settlement amount and therefore, not passed the interim award, as it is not the case of the admitted amount or undisputed amount. One cannot overlook the basic aspect of full and final settlement. The parties offer such amount to end the litigation fully and finally. This lump sum amount so offered, cannot be said to be undisputed amount for the purpose of granting such interim award, as claimed. Having once disputed and refused to accept this amount towards the full and final settlement of the claim, the detailed inquiry and trial is essential. It is difficult to accept the case of the Petitioner that it is the undisputed amount and that should be awarded, as done in the other cases. Considering the scope of Section 34 of the Act, I see there is no reason to interfere with the impugned interim order. The Petition is accordingly dismissed. No order as to costs.