Gomukh Agri Business Ltd v. Small Farmers Agribusiness Consortium

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. 1575/2014 GOMUKH AGRI BUSINESS LTD ..... Petitioner Through Mr.Amol Chitale, Advocate versus SMALL FARMERS AGRIBUSINESS CONSORTIUM..Respondent Through Mr.Ravindra Kanth, Advocate

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 12.09.2017 1.

These are the objections filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') seeking to impugn the award dated 20.08.2014 passed by the learned arbitrator. 2.

After some arguments, the learned counsel for the parties are agreed that they have no objection in case changes are made in the award regarding interest. It is agreed that the petitioner shall pay interest @ 9% per annum w.e.f. the date of filing of the statement of claim i.e. 13.08.2012 till the date of receipt of payment and interest shall not be paid as per the award. 3.

The learned counsel for the parties are also agreed that the petitioner shall make payment as stated above within six months from today. In the eventuality, the petitioner makes payment within six months from today as stated above, the same shall be construed as settlement of the dues of the respondent in terms of the award dated 20.08.2014. 4.

Petition disposed of in the above term.

JAYANT NATH, J.

SEPTEMBER 12, 2017/v