EAST CENTRAL RAILWAY Vs. ARJUN ENGICON PVT. LTD.

JUDGEMENT

(1.) Heard Dr. K.N. Singh, learned ASG assisted by Mr. Bindhyachal Rai, learned Senior Counsel for the appellant and Mr. Shailendra Kumar Singh, learned counsel for the respondent.

(2.) The present appeal arises out of the order dtd. 21/7/2023 passed by learned Additional Sessions Judge-VIII, Patna in Miscellaneous (Arbitration) Case No. 14 of 2018 by which the learned Additional Sessions Judge-VIII has been pleased to dismiss the application under Sec. 34 of the Arbitration and Conciliation Act, 1996 (as amended up to date) (hereinafter referred to as the 'Act of 1996 (as amended up to date)') and affirmed the award dtd. 21/9/2017 passed by the learned Arbitral Tribunal whereunder the present appellant has been directed to make payment of Rs.46,45,228.00 to the claimant/respondent within three months, failing which the amount will carry the interest at the rate of 16% per annum from the date of award. The learned court, however, modified the rate of interest to 9% per annum instead of 16% per annum.

(3.) In the nature of the order proposed to be passed with the consent of learned counsel for the parties, this Court need not go into the factual details of the present matter.