Supreme Court - Daily Orders
Ircon International Limited Formerly ... vs Shri Ram Sayal And Sons Engineers Pvt ... on 16 September, 2016
Bench: Shiva Kirti Singh, R. Banumathi
1
ITEM NO.3 COURT NO.13 SECTION XIV
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s).
18647-18648/2016
(Arising out of impugned final judgment and order dated 30/09/2015
in FAO No. 16/2013 and CM No. 3959/2013 passed by the High Court Of
Delhi At New Delhi)
IRCON INTERNATIONAL LIMITED FORMERLY KNOWN
AS M/S INDIAN RAILWAY CONSTRUCTION CO.
(IRCON) Petitioner(s)
VERSUS
SHRI RAM SAYAL AND SONS ENGINEERS PVT LTD. Respondent(s)
(with interim relief and office report)
I.A. 1-2
(Appln. For permisssion to file additional documents)
Date : 16/09/2016 These petitions were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE SHIVA KIRTI SINGH
HON'BLE MRS. JUSTICE R. BANUMATHI
For Petitioner(s) Mr. Atmaram N.S. Nadkarni, ASG
Mr. Salvador S. Rebello, Adv.
Mr. Jai Dehadrai, Adv.
Ms. Monisha handa, Adv.
Mr. Mohit D. Ram,Adv.
For Respondent(s)
UPON hearing the counsel the Court made the following
O R D E R
On hearing learned Additional Solicitor General appearing for the petitioner, we do not feel persuaded to Signature Not Verified Digitally signed by NEELAM GULATI Date: 2016.09.17 interfere with the Order of the Division Bench under 11:54:11 IST Reason: challenge, the special leave petition is dismissed.
However, we have been shown that in the Award, 2 the learned Arbitrator while declining the awarded interest at the rate of 18% p.a. on the two amounts recoverable with effect from 01.01.1990 did not indicate any particular rate of interest but used the expression “interest should be computed at an appropriate rate”. The learned Single Judge vide its order dated 01.11.2012 corrected the aforesaid lacuna by providing interest at the rate of 9% p.a. with effect from 01.01.1990 till the date of Award. The effect of the Division Bench judgment dated 30.09.2015 is to restore the Arbitrator's Award as it is.
In the facts of the case, we clarify that the rate of interest shall be 9% as indicated by the learned Single Judge in para 26 of his judgment. We have made this modification without issuing notice to the respondents. Hence we indicate that in case the respondents are aggrieved by this order, they will be at liberty to approach this Court for modification.
(NEELAM GULATI) (MADHU NARULA)
COURT MASTER COURT MASTER