STATE OF H P Vs. HIMACHAL TECHNO ENGINEERS

JUDGEMENT

(1.) Before the matter started Mr. S. R. Sharma, learned counsel for the respondents stated at the bar that keeping in view the provisions of S. 31(7)(b) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act'), even though for the post award period his clients are entitled to statutory interest @ 18% per annum but, however, his clients agree to accept the interest at such rate as has been awarded by the Arbitrator for the period up to the date of the award. Statement accepted and taken on record.

(2.) The petitioners are referred to as the 'State' and the respondents are referred to as the 'Contractor.'

(3.) Certain disputes having been arisen between the parties in relation to Agreement No. 91 (2002-2003), "for the augmentation of LWSS Hamirpur Town from River Beas in Tehsil and District Hamirpur," the matter was referred to the Arbitrator in accordance with the terms of the agreement.