V.K.Gupta, J. - (1.) A very short question is involved for determination in this appeal against the judgment of a learned single Judge of this Court passed on 1st April, 1993 in Award Case No.471 of 1999 whereby he refused to set aside the award and dismissed the application of the appellant for this purpose.
(2.) The Arbitrator had awarded a sum of Rs. 3,50,000/- in favour of the respondent No.1 and against the appellant. After incorporating certain recitals in the opening parts of the Award the Arbitrator finally held thus : "I, am the Umpire having carefully examined the documents, exhibits and annexures etc. as also the depositions of the Claimant and the respondent and having heard the submissions and arguments of both sides, both in respect of fact and law I do hereby make my award as below. (1) The West Bengal State Electricity Board, the respondent shall pay a sum of Rs. 3,50,000/- (Rupees three lacs fifty thousand only) to the Claimant within 3(three) months from the date in full and final settlement of the Claims. In default of making payment within the said time the respondent shall pay and bear interest on the said amount of Rs. 3,50,000/- at the rate of 12% per annum after the expiry of three months hereof or till the date of decree on award is passed, whichever is earlier."
(3.) The sole ground taken by the appellant before the learned single Judge in assailing the award and in praying for its being set aside was based on clause 49 of the agreement between the parties which reads as under : "40. Explanation : The unit rates quoted shall be firm and shall remain applicable during the entire period of execution of work upto the completion and no escalation in rates will be permitted due to increase in prices of materials, rise in labour wages, railway freight or due to any other reasons.";