PUNJAB STATE AND ORS. Vs. ASHWANI KUMAR

JUDGEMENT

(1.) Genesis of these two revision petitions is found in order dated 08.03.2007 of the lower court whereby execution application filed by the decree holder was partly allowed. One revision petition has been preferred by the judgment debtors urging that interest allowed by the Executing Court is exorbitant. It is urged that even otherwise there is no date given in the award for commencement of the levy of interest and that arbitrary fixing of the date by the Executing Court for calculating of interest is wrong.

(2.) So far as CR No.4331 of 2007 is concerned, the decree holder has claimed that the Executing Court could not have appropriated the payments made by the JDs towards principal amount but in fact such payments were to be adjusted firstly towards the interest and only then towards the principal. It is thus claimed that the impugned order whereby the Executing Court had allowed the payments to be adjusted towards the principal amount, is wrong.

(3.) During the course of arguments, it has not been denied that award dated 30.11.1995 (Annexure-P3) has become final. The Executing Court could not have gone beyond the award under execution. Finding of the Arbitrator regarding permissibility of interest on the amount due, is to the following effect:-