Himachal Pradesh High Court
Eih Ltd. And Another vs . The State Of H.P. And Others on 2 June, 2023
Author: Sandeep Sharma
Bench: Sandeep Sharma
EIH Ltd. and another vs. The State of H.P. and others Ex. Petition No.5 of 2023 .
2.06.2023 Present Mr. R.L.Sood, Senior Advocate with Mr. Arjun Lal, Advocate, for the Decree Holder.
Mr. Anup Rattan, Advocate General with Mr. Rajan Kahol, Mr. Vishal Panwar and Mr. B.C.Verma, Additional Advocate Generals and Mr. Rahul Thakur and Mr. Ravi Chauhan, Deputy Advocate Generals, for the Judgment Debtor-State.
r to Mr. Anil Chauhan, Advocate, for respondent No.2.
Learned Advocate General representing the JD-State submits that JD-State is in the process of filing objections to the execution petition and as such, matter may be adjourned.
Mr. R.L.Sood, learned Senior counsel representing the DH states that amount deposited in terms of the award sought to be executed may be released in favour of the JD, so that no further interest is levied upon the DH. However, learned Advocate General states that before ordering release respondent-State may be permitted to file calculation with regard to amount required to be deposited by the DH in terms of the award sought to be executed.
Since DH has already deposited the amount in the Registry of this Court as per their calculation, same is ordered to be invested in FDRs till further orders, so that opposite party may not subsequently claim interest, if any, at the rate of 18% in terms of provision contained under Section 31(7)(b) of the Arbitration Act. However, it is clarified that shortfall, if any, shall carry interest in accordance with law.
::: Downloaded on - 02/06/2023 20:32:37 :::CISAmount deposited by the DH in terms of order .
dated 16.5.2023 is ordered to be invested in FDRs till further orders.
List on 15.6.2023.
(Sandeep Sharma) Judge June 02, 2023 (shankar) ::: Downloaded on - 02/06/2023 20:32:37 :::CIS