B S Sangwan v. Union Of India

$~32 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 144/2017 B S SANGWAN ..... Decree Holder Through: Mr.S.W.Haider, Adv.

versus UNION OF INDIA ..... Judgment Debtor Through: Mr.N.Prashant Kumar, Adv.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 28.09.2018 1.

Counsel for the Decree Holder submits that the only dispute left between the parties is whether the Arbitrator in his Award dated 05.09.2017 directed post-award interest on the sum that would become payable by adding the principal amount and the pre-award interest.

Paragraphs 110 and 111 of the Award are relevant to answer this dispute and are reproduced hereinbelow:

"110 Sequel to the findings of above issues, this claim petition is hereby allowed, in favour of the claimant and against the respondent, to the effect that the claimant is entitled to recover following amounts from the respondent:

1.

Claim No.1 Rs.1,19,88,000.00 2.

Claim No.2 Rs.19,18,080.00 Total Rs.1,39,06,080.00

111. The claimant is also entitled for interest, on this amount from the respondent at a rate of 10% per annum from the date of filing of the claim petition i.e. 12.05.2015 till today and at a

rate of 12% per annum from today till realization." 2.

A reading of paragraph no. 111 would clearly show that the post-award interest is only on the principal sum awarded, which is Rs.1,39,06,080/-, and not on the sum arrived at by adding the preaward interest to this amount. 3.

In view of the above, the contention raised by the counsel for the Decree Holder is rejected.

4.

Counsel for the Decree Holder submits that barring this disputed amount, the other amount has been duly received and the Award stands satisfied.

5.

Recording the satisfaction of the Award, the petition is disposed of.

NAVIN CHAWLA, J SEPTEMBER 28, 2018 RN