S.K.Hazari, J. - (1.) -
(2.) THIS is appeal is directed against the judgment and order dated 10th March, 1993 passed in Matter No. 3083 of 1992. The short point involved in this appeal is as to whether the granting of pendente lite interest is mandatory or discretionary. In 1987 Joint Arbitrators were appointed. In December, 1987 an application was filed under sections 5, 8, 11 and 12 of the Arbitration Act for leave to revoke the authority of the arbitrators and for appointment of a new arbitrator. By an order dated 15th January, 1988 the authority of the joint arbitrators were revoked and Mr. A. M. Pal, a retired Judge of this court was appointed as sole arbitrator in place and stead of the out going joint Arbitrators. On 3rd of May 1988 the arbitrator entered into the reference and on 7th December, 1991 the learned arbitrator made and published his award wherein it was directed that the respondent would pay to the petitioner Rs. 2.25 lacs together with interest at the rate of 15% from the date of the award until payment and a further sum of Rs. 30,000/as costs of this arbitration. No interest pendente lite was granted by the arbitrator under the said award.
(3.) ON 28th February, 1992 an application was filed under section 16 of the Arbitration Act for an order that a sum of Rs. 1.65 lacs be granted to the petitioner on account of interest pendente lite and for that purpose the award be remitted to the Saha Arbitrator for necessary correction.;