ASTRA CONSTRUCTION Vs. NORTH EASTERN ELECTRIC POWER CORPORATION

JUDGEMENT

(1.) A point of some impotance is involved in this appeal. There were arbitral proceedings between the parties resulting in an arbitral award in favour of the appellant. In the award the Arbitral Tribunal granted pre-reference and pendente lite interest on awarded claims.

(2.) This award was challenged by the respondent in an application under Sec. 34 of the Arbitration and Conciliation Act, 1996 (in short the "Act of 1996") before the learned Commercial Court, East Khasi Hills, Shillong. The learned judge by a judgment and order dtd. 15/2/2024 upheld the substantive part of the award but set aside the grant of prereference and pendente lite interest, the ground being that clause 54 of the terms and conditions of the contract between the parties read with Sec. 31(7) of the Act of 1996 prohibited grant of such interest.

(3.) The Appellant appeals to this Court from that part of the judgment and order against them. The respondent has not preferred any appeal from the part upholding the award.