ASOK KUMAR GANGULY - (1.) This appeal has been filed by M/s. Soorajmull Nagarmull, a registered partnership firm (hereinafter referred to as SN) challenging the judgment and order dated 16th July, 1991 by which a learned single Judge upheld an award dated 16th August, 1989.
(2.) . The material facts of the case are noted below :Six contracts were entered into by and between SN and Jute Corporation of India (JCI) for sale of jute by JCI to SN. Disputes and differences arose out of the transactions covered by those six contracts. The contracts are of diverse dates.
(3.) . However, one thing may be noted that the award which has been passed in this case is for a total amount of Rs. 73,18,668.02 p. only. Out of the said amount, Rs. 88,962.63 p. was awarded for the balance of unpaid price of jute supplied and delivered by JCI to SN. A total amount of Rs. 72,29,705.39 p. had been awarded towards the interest payable by JCI to its bank up to 30th June, 1989 for loans and advances obtained by JCI from the banks for payment of price of jute supplied and delivered by JCI to SN. The claim for penalinterest by JCI has been disallowed by the arbitrator.;