Hindustan Construction Company Ltd. v. Raghuvansh Lal Sharma And 2 Others

sat 1/1 arbp 1156-2014.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 1156 OF 2014 Hindustan Construction Co.Ltd.

...Petitioner

vs.

Raghuvansh Lal Sharma & Ors.

....Respondents Mr.Karl Tamboly with Rakesh Mandavkar i/b.Harish Joshi & Co. for Petitioner. CORAM : S.C. GUPTE, J.

11 JANUARY 2016 P.C. :

This arbitration petition, which is filed under Section 17 of the Arbitration Act, 1940, seeks a decree in terms of the award dated 29 March 2011 passed in favour of the Petitioner and against the Respondents jointly and severally. The award is in the sum of Rs.31,73,75,863.43 in accordance with particulars set out in Annexure-A to the award along with interest on the amount of Rs.6,68,55,978.78 at the rate of 12% per annum from the date of the award till passing of the decree and also for a further sum of Rs.50 lakhs towards costs of the arbitration proceedings. The award has been duly served on the Respondents. There is no petition filed by the Respondents challenging the arbitration award under Section 30 of the Arbitration and Conciliation Act, 1940. The petition has been duly served on the Respondents. There is no reply by the Respondents to the arbitration petition.

The arbitration petition, in the premises, is allowed. There will be a decree in terms of prayer clause (a) of the petition. The Respondents shall also jointly and severally pay interest at the rate of 12% per annum from the date of the decree till payment or realisation. Drawn up decree be dispensed with. (S.C. Gupte, J.)