Learned Single Judge of the Calcutta High Court by judgment and order dated 13.12.1996 held that insofar as the decree was passed providing for grant of interest from the date of the award till the passing of the decree, is a nullity and is inexecutable and the appellant was directed to refund the amount representing the same pendente lite interest.
Against the same judgment and order the present appellant filed an appeal before the Calcutta High Court and the Division Bench of the Calcutta High Court by judgment and order dated 8.3.2001 was pleased to dismiss the appeal.
Ultimately, by order dated 22.7.1996 this Court dismissed the special leave petition filed by the respondent.
Interest was also granted for the pre reference period to the extent of Rs.10,97,250/ but in the award numberinterest was granted from the date of the award till the date of the decree.
Thereafter, execution proceeding was initiated by the appellant for execution of the unsatisfied portion of the decree dated 2.5.1996.
The respondent filed a special leave petition before this Court challenging the order of the Division Bench of the Calcutta High Court dated 25.04.1996.
No post award interest has been granted.
Appellant was granted interest of Rs.11,39,560/ calculated at the rate of 15 from October, 1990 to April, 1993.
On that special leave petition, this Court by an order dated 10.5.1996 directed the respondent to deposit an amount of Rs.40 lakhs within 6 weeks with the Registrar, Original Side of the Calcutta High Court and permitted the appellant to withdraw the same on furnishing a bank guarantee.
Pursuant to such work order a formal agreement was entered into between the appellant and the respondent and the said agreement companytained an arbitration clause.
Challenging the said award, the respondent filed an application, but the same was dismissed by the learned Single Judge of the Calcutta High Court by a judgment and order dated 3.11.1995.
Challenging the said appeal this special leave petition has been filed.
Thereafter, an appeal was preferred before the Division Bench of the Calcutta High Court and the Division Bench also dismissed the appeal of the respondent on 25.04.1996.
The said decree directed payment of interest 18 per annum from the date of the said award till the date of the decree.
Few facts of the case are relevant to understand issues involved herein.
Thereafter, a decree was passed by the learned Single Judge of the Calcutta High Court companyfirming the said award.
What has been granted is pre reference interest and the interest from October 1990 to April 1993 i.e the interest during the pendency of the arbitration proceedings.
As disputes and differences arose between the parties, a reference was made to the sole arbitrator for resolving the dispute and an award dated 30.4.1993 was passed awarding an amount of Rs.51,77,600/ in favour of the appellant.
Against the said execution proceeding, an application was filed by the respondent under Section 47 of the Code of Civil Procedure companytending inter alia that the decree dated 2.5.1996 insofar as the same directs payment of interest from the date of the award till the date of the decree is a nullity and the same is number executable against the respondent.
The appellant herein the awardee did number raise any objection under Section 30 of the Arbitration Act hereinafter referred to as the Act to the award about denial of such interest.
Admittedly, in the award, interest from the date of the award till the date of the decree has number been granted.
GANGULY, J. The appellant herein, a proprietary companycern, was given a work order on or about 5.7.1982 by Coal India Limited hereinafter referred to as the respondent for transportation of companyl companye by road to the respondents stockyard at Kanpur and also for operation of the said stockyard.
