THE BOMBAY DYEING AND MANUFACTURING CO.LTD. Vs. M/S. I.R. ENTERPRISES A PARTNERSHIP FIRM REGISTERED UNDER THE PARTNERSHIP ACT
HIGH COURT OF BOMBAY
The Bombay Dyeing And Manufacturing Co.Ltd.
M/S. I.R. Enterprises A Partnership Firm Registered Under The Partnership Act
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(1.) By this Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, the Petitioner (original Respondent) has impugned the Arbitral Award dated 22nd June 2015 passed by the learned Arbitrator directing the Petitioner to pay to the Respondent an amount of Rs. 53,74,118/together with interest at the rate of 12 percent per annum from 1st June 2008 till payment and/or realization, and further directing the Petitioner to pay Rs. 3,00,000/towards the costs of the arbitration and rejecting the counterclaims made by the Petitioner. Some of the relevant facts for the purpose of deciding this Petition are as under : Sharayu.
(2.) The Petitioner had awarded the contract to the Respondent some time in the year 2008 in relation to mass excavation of the earth on its work site containing of the terms and conditions mentioned in the work order issued by the Petitioner in favour of the Respondent on 18th January 2008.
(3.) On 19th February 2008, the Respondent submitted its Running Account Bill No. 1 for an amount of Rs. 1,85,13,558/for the work done under the said work order. On 3rd March 2008, the Petitioner issued a cheque in favour of the Respondent for a sum of Rs. 1,15,89,478/in respect of the Running Account Bill No. 1.;
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