Bela M. Trivedi, J. - (1.) THE present appeal has been filed by the appellant U.I.T., Bhiwadi, under Section 37 of the Arbitration & Conciliation Act 1996 against the order dated 20.05.2011 passed by the District Judge, Alwar (hereinafter referred to as "the court below") in arbitration application No. 402/2009, whereby the court below has dismissed the objection application filed by the appellant under Section 34 of the said Act, challenging the award made by the sole arbitrator. The learned senior counsel Mr. R.K. Mathur, for the appellant submitted that the Arbitrator had arrived at wrong calculation while allowing the claims of the respondent -claimant. According to him, the award was a non -speaking award so far as the issue No. 5 was concerned and, therefore, the said award liable to be set -aside.
(2.) THE Court does not find any substance in the said submission made by the learned senior counsel for the appellant. As transpiring from the award itself, the award is a speaking award and the Arbitrator has allowed the claims of the claimant by giving reasons. It is settled legal position that the courts cannot re -appreciate the evidence already appreciated by the Arbitrator. The appellant having failed to point out any of the grounds mentioned in Section 34 of the said Act, for setting -aside the award in question, the court below has rightly dismissed the objection application of the appellant after considering the legal position as settled by the Apex Court. The Court does not find any illegality or infirmity in the impugned order passed by the court below so far as the principal amount is concerned. However so far as the rate of interest awarded by the Arbitrator is concerned, it appears that the Arbitrator has awarded interest at the rate of 18% per annum from the date of award to the date of payment, which appears to be on quiet on higher side, and therefore, the same deserves to be reduced to a reasonable rate. Accordingly, it is directed that the appellant shall be liable to pay interest on the awarded amount @12% per annum instead of 18% per annum from the date of award to the date of payment to the respondent -claimant, and to that extent the award dated 18.06.2009 made by the Arbitrator stands modified. At this juncture, the learned senior counsel Mr. R.K. Mathur for the appellant requests the Court to grant some time to make payment, and hence the appellant is directed to pay the awarded amount with interest within two weeks from today. In view of the above, the appeal is partly allowed.;