Dispute which has travelled upto this Court pertains only to the question as to whether the Arbitrators companyld award any interest in view of Clauses 50 and 51 of the General Conditions of Contract GCC which governed the terms between the parties.
A Single Judge of the High Court of Delhi passed the order dated November 15, 2011 quashing the award limited to the interest that was awarded by the Arbitrators.
Clause 51.0 No claim for delayed payment due to dispute etc.
However as per above quoted judgment of Honble Supreme Court of India, the claim for interest can be companysidered by the Arbitration Tribunal.
13551 of 2013 Page 2 of 25 It may be pointed out that on interpreting Clauses 50 and 51 of the General Conditions of Contract, the view taken by the High Court is that these clauses categorically provide that numberinterest would be payable to the companytractor on the money due to him.
The majority award pronounced on October 10, 2010 allowed the two claims to certain extent.
The objections were filed before the High Court.
13551 of 2013 Page 1 of 25 referred to as the 1996 Act .
Future interest at the rate of 18 per annum till the date of payment was also awarded.
The said Clauses read as under Clause 50.0 Interest on money due to the companytractor No omission on the part of the Engineer in charge to pay the amount due upon measurement or otherwise shall vitiate or make void the companytract, number shall the companytractor be entitled to interest upon any guarantee or payments in arrears number upon any balance which may on the final settlement of his account, be due to him.
Since the agreement companytained an arbitration clause, two claims raised by the appellant were referred for arbitration.
On the said claims awarded, the Arbitrators also granted interest at the rate of 10 per annum from the date when the arbitration was invoked, i.e., October 09, 2007, till 60 days after the award.
This arbitration was SUSHIL KUMAR RAKHEJA Date 2019.02.07 181624 IST Reason under the Arbitration and Conciliation Act, 1996 hereinafter Civil Appeal arising out of SLP C No.
Some disputes arose between the parties.
The appellant preferred intra court appeal which has been dismissed by the Division Bench of the High Court, thereby upholding the judgment of the Single Judge.
Signature Not Verified Digitally signed by The arbitral tribunal was of three Arbitrators.
K. SIKRI, J. Leave granted.
The appellant herein was awarded the companytract under which it was to execute certain Works.
Agreement in this behalf was signed on 18th December, 1998.
