UNION OF INDIA Vs. ROSHNI DEVI

JUDGEMENT

(1.) THIS appeal is directed against order dated 3.7.2002 passed by the District Judge, Jammu in execution proceedings whereby he has allowed interest on the award amount @ 18% per annum.

(2.) THE appellant is aggrieved of the order passed by the Executing Court whereby interest amount of Rs. 27, 54, 396 @ 15% from 24.7.1991 to 1. 2. 199 and further amount of Rs. 9, 15, 220 as interest @ 18% w.e.f. 2.2.1999 to 13.3.2001 and additional amount of Rs. 3, 18, 686/ - on account of interest for the period 5.3.2001 to 3.7.2002 has been allowed in favour of the respondents/decree holders. The Execution petiton came to be filed arising out of judgment and decree dated 1.2.1999 passed by the High Court whereby award dated 24.7.1991 passed by the Arbitrator was made rule of the court. Appeal preferred against the judgment dated 1.2.1999 also came to be dismissed by the Honble Division Bench of this Court vide judgment dated 5.10.2002. Under the award passed by the arbitrator, claim of interest in favour of respondents at Item No. 24 of the claim was allowed in the following manner:

(3.) THIS court while making award rule of the court vide judgment dated 1.2.1999, directed payment of interest in terms of section 29 of the Arbitration Act, 1940 as under: -