Document Fragment View
Fragment Information
Showing contexts for: Alankit in Cmdr. S.P. Puri vs M/S. Alankit Assignments Ltd. on 27 August, 2008Matching Fragments
2. By the impugned Award, the Arbitral Tribunal has rejected claims of the Objector and allowed counter claim of respondent-M/s.
Alankit Assignments Ltd. (hereinafter referred to as 'respondent or AAL', for short) of Rs.32,72,631/- less Rs.15,00,000/- deposited by the Objector as margin money.
OMP No.395/2005 Page No.2
3. At the very outset I may point out that the learned counsel for the respondent-AAL has admitted that there is a mistake/error in calculations made by the learned Arbitrators. Out of the total amount of Rs.32,72,631/-, the respondent-AAL had realised Rs.43,663.46 on 26th August, 2004 from sale of shares of Bhagyanagar Metals Ltd. and Rs.24,675/- was credited to the account of the Objector on 5th November, 2004 on receipt of dividend from Reliance Industries Ltd. Thus, Rs.32,28,968/- is claimed by the respondent-AAL as due and payable after adjustment of the said amounts. The statement is taken on record and the award is modified/corrected to this extent.