High Court of DelhiOMP (ENF.) (COMM.)/132/2017

Pcl-Sticco (Jv) v. National Highways Authority Of India

2018-09-11Hon'Ble Mr. Justice Navin Chawla2 pages

$~36 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 132/2017 PCL-STICCO (JV) ..... Petitioner Through Mr.Rishabh Dheer, Adv.for Dr.Amit George, Adv.

versus NATIONAL HIGHWAYS AUTHORITY OF INDIA ..... Respondent Through Mr.Vikas Goel, Ms.Gunjan S.Jain and Mr.Abhishek Kumar, Advs.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 31.10.2018 Review Pet.404/2018 This Review Petition has been filed by the petitioner seeking review of the order dated 11.09.2018 passed by this Court whereby the Enforcement Petition was disposed of on the basis of the submission made by the counsel for the petitioner who had submitted that the entire awarded amount stood deposited in this Court pursuant to the order dated 15.12.2017 passed by the Division Bench in FAO(OS) 316/2017.

In the application the petitioner contends that this statement had been made inadvertently and a further amount of Rs.1,35,12,118.91 is due and payable by the respondent to the petitioner in terms of the Arbitral Award. This is strongly refuted by the counsel for the respondent. He draws my attention to the Annexure RP-2 annexed with the application and contends that the calculation of the petitioner is on the face of the record contrary to

the Arbitral Award.

In paragraph 5.2(i) and (ii) of the Award the Arbitral Tribunal had awarded interest upto the date of Award @ 10% p.a. compounded monthly on the principal amount of Rs.34,16,557.70 and post award interest @ 12% p.a. on the principal amount of Rs.34,16,557.70 up to the date of payment. In the calculation filed by the petitioner as Annexure RP-2, the petitioner has not only calculated the post award interest on the amount of Rs.90,51,856/- but has also calculated such interest @ 18% p.a. This is totally contrary to the Arbitral Award.

Counsel for the petitioner is unable to explain how the interest is being claimed on the amount of Rs.90,51,856/- or @ 18% p.a. In my view the same is totally contrary to the Arbitral Award. I therefore find no merit in the present Review Petition and the same is accordingly dismissed. There shall be no order as to cost.

NAVIN CHAWLA, J OCTOBER 31, 2018/Arya