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Showing contexts for: unsigned statement in M/S R. S. Trading Company vs M/S Tata Capital Financial Service Ltd on 17 September, 2024Matching Fragments
Arbn. A (Comm) 35/2019 M/s R.S. Trading Company Vs. M/s Tata Capital Financial Page no. 26 of 30
50. A perusal of the Arbitral record, in fact, shows that the respondent has not placed the very Statement of Account before the Ld. Arbitrator. The Foreclosure Statement, that has been placed by the respondents, is not only unsigned but also undated and records a sum of Rs.42,37,927.81/- to be due, as booked on 22.04.2016.
51. The Arbitrator seems to have treated the said amount as due while passing the said Award, granting further interest @ 2.5% per month. The contention of the petitioners that the Arbitrator has simply proceeded to grant whatever has been asked for by the respondents, carries considerable weight. The Award is found to be silent as to how the figure has been arrived at by the respondents and how did the Arbitrator "adjudicate" it to be due in the absence of very Statement of Account. There seems to be a patent illegality in this respect as the Award is not based on the actual, let alone the best evidence of liability. The Award is not liable to be interefered with on this count.