Court : Delhi
..... the appellant had objected to an award dated 17.02.2009 under sections 30/33 (of the now repealed) the arbitration act, 1940. ..... the objector/claimant had relied upon the circumstance that in the substantive portion of the award while dealing with issue no.8, the arbitrator held that the claimant would be entitled to interest @ 12% from the date when it is due till payment of the amount due. ..... the juxtaposition of the findings in the award on the one hand and the conclusive or operative portion - immediately extracted above - would reveal that even while granting the interest @ 12% from the due date, which works out to 19.02.1993, the arbitrator fell into an obvious and patent error in confining the pendente lite interest claim to two years, while arriving at a fao (os) 600/2009 page 5 figure of rs.9,64,288.80. ..... he also argues that once the arbitrator held - in relation to issue no.8 - that the interest was payable from the due date which in fact was 19.02.1993; the assumption that interest was payable only for two years while working out the amount due in a later paragraph of the same award, was an obvious error appearing on the face of the record and ought to have been rectified by the learned single judge. ..... the appellant is also aggrieved by the fact that the learned single judge erroneously failed to modify the award whereby the arbitrator erroneously confined the award of interest to only two years while calculating the actual amount payable.3. .....
Tag this Judgment!Court : Delhi
..... position that stands today is that under section 85 of the 1996 act, the indian arbitration act, 1940 and the foreign award 1961 is repealed.34. ..... unlike section 34 of the cpc, whereunder the court can award interest for the period of pendency of the suit as well as for the period subsequent to the decree till realisation, section 29 of the arbitration act empowers the court to award interest from the date of ..... the 1996 act has no provision regarding interest to be awarded for the period from the date of the award till payment on the analogy of section 31(7) of the said act.37. ..... in an international commercial arbitration, like any domestic arbitration, the award of interest would fall under the following periods : (i) period prior to the date of reference to arbitration: (ii) period during which the arbitration proceedings were pending before the arbitrators; (iii) period from the date of award till the date of institution of proceedings in a court for enforcement of the award; (iv) period from the date of institution of proceedings in a court till the passing of the decree; and (v) period subsequent to the decree ..... with regard to interest, the following provisions, is made in section 29 of the indian arbitration act : interest of awards - where and in so far as award is for the payment of money the court may in the decree order interest, form the date of the decree at such rate as the court deems reasonable, to be paid on the principal sum as adjudged by the award and confirmed by .....
Tag this Judgment!Court : Delhi
Reported in : AIR1998Delhi397; 76(1998)DLT908; 1998(47)DRJ144; 1998RLR404
..... it is true that the said arbitration act, 1940 stands repealed by the act of 1996 and the provisions contained in the code of civil procedure are not applicable to the proceedings under the act, still, in my opinion, in the absence of guidelines how the power for grant of relief under section 9(ii)(b) is to be exercised by the court, the principles underlying the aforesaid sections are to applied. ..... others, confers discretionary power to pass interim order directing the respondent to furnish security for the satisfaction of the decree at any time after the filing of the award in court on the fulfillment of the conditions noted in that sub-section section 41(b) read with para 2 of the iind schedule empowers the court to pass order for securing the amount of difference not only when the proceedings are pending before it but also when they are ..... the arbitrators have made the award dated december 31, 1997 and have awarded to the petitioner us$ 88,250 together with interest @9% p.a from december 27, 1995. ..... in the reply it is, inter-alia alleged that the arbitrators after having reached the conclusion that no valid contract was concluded between the parties, ought not have exercised jurisdiction in awarding us$ 88,250 with interest at the exorbitant rate of 9% p.a. .....
Tag this Judgment!Court : Delhi
Reported in : 2005(1)ARBLR264(Delhi); II(2005)BC501; 117(2005)DLT183
..... true that the said arbitration act, 1940 stands repealed by the act of 1996 and the provisions contained in the code of civil procedure are not applicable to the proceedings under the act, still, in my opinion, in the absence of guidelines how the power for grant of relief under section 9(ii)(b) is to be exercised by the court, the principles underlying the aforesaid sections are to be applied. ..... entitles a party, before or during arbitral proceedings or at any time after the making of the arbitral award but before it is enforced, to apply to a court for securing the amount in dispute in the arbitration.11. ..... nowhere alleged that if the amount is not secured, it would not be possible for the petitioner to recover the amount, if awarded during arbitration. ..... only on adequate material being supplied by the petitioner that the court can form opinion that unless the jurisdiction is exercised under the said section 9(ii) there is real danger of the respondent defeating, delaying or obstructing the execution of the award made against it. ..... on the basis of the only ground of protection of financial interest of the petitioner taken in para 6 of the petition, the respondent ..... though language of section 9 of the arbitration and conciliation act, 1996 does not expressly state that as a condition precedent for passing an order under section 9, it has to be established that there is a danger of the respondent defeating, delaying or obstructing the execution of the award, the issue is no longer rest .....
Tag this Judgment!Court : Delhi
Reported in : AIR2007Delhi202; 2007(2)ARBLR239(Delhi); II(2007)BC610; 139(2007)DLT676
..... the regime of the repealed arbitration act, 1940, was that an award had to metamorphose itself into being the 'rule of court' before it attained executable ..... vice chairman dda : 86(2000)dlt748 was that the uniform view is that if objections are filed beyond the period of 30 days as laid down in the arbitration act, 1940, they cannot be looked into since the court does not possess power to entertain applications under section 5 of the limitation act. ..... the court was called upon to rule on section 14(2) of the erstwhile arbitration act, the provisions of which are materially different ..... grounds on which an application can be made for setting aside the award are-(a) that an arbitrator or umpire has misconducted himself or the proceedings, (b) that an award has been made after the issue of an order by the court superseding the arbitration or after arbitration proceedings have become invalid under section 35, or (c) that an award has been improperly procured or is otherwise invalid. ..... came to be eventually filed in the registry of this court on 7.8.2004 an application under section 34 of the a and c act read with section 5 of the limitation act for condensation of delay, which ought to have accompanied the objections, appears to have been filed on 4.10.2004 it is obvious, thereforee, that even though the award visited the appellant with a liability running into several lacs of rupees which after interest would run into crores of rupees, the conduct of the appellant manifests repeated .....
Tag this Judgment!Court : Delhi
Reported in : 95(2002)DLT656
..... this petition under section 14 of the arbitration act, 1940 for filing of the award dated 30.6.2001 has been thrown up interesting question of law - whether the provisions of act of 1940 or act of 1996 are applicable in respect of the award in question which is dated 30.6.2001 though arbitral proceedings were commenced in 1993 and conducted under the procedure of act of 1940.2. ..... '(iv) section 85 of arbitration act of 1985 relates to the effect of repeal of the old act which is as under:-85 ..... to further fortify this view mr.kumar took refuge under section 85(2)(a) of the act that 'notwithstanding such repeal (a) the provisions of the said enactments shall apply in relation to arbitral proceedings which commenced before this act came into force unless otherwise agreed by the parties but this act shall apply in relation to arbitral proceedings which commenced on or after this act comes into force.'6. ..... repeal and saving:- (1) the arbitration protocol and convention) act, 1937 (6 of 1937), the arbitration act, 1940 (10 of 1940) and the foreign awards (recognition and enforcement) act, 1961 (45 of 1961) are hereby repealed. ..... however, as regards the effect of section 85 of the 1996 act which provides that the provisions of the repealed enactments shall apply in relation to arbitral proceedings which commenced before this 1996 act came into force mr. ..... is correct that the new act is a remedial statute and, thereforee, section 85(2) calls for strict construction, it being a repealing provision. .....
Tag this Judgment!Court : Delhi
..... this appeal is directed against a judgment and order of a learned single judge of this court, in cs (os) 1497/1993 dated 15.10.2008, in respect of objections to an award, made in terms of provisions of the erstwhile (and now repealed) arbitration act, 1940.2. ..... section 30 of the arbitration act, 1940 providing for setting aside an award is restrictive in its operation. ..... m/s bridge tunnel constructions 1997 iii ad sc 458.it is argued that the sole arbitrator acted without jurisdiction in entertaining new claims/variated claims and adjudicated them without evidence.4. ..... (supra) is an authority for the proposition that the court cannot examine whether in arriving at its decision, the arbitrator acted correctly or incorrectly. ..... it was held that an objection that the sole arbitrator did not have jurisdiction to deal with excepted matters could be raised at any time as the same goes to the root of the matter and can be taken even at the time of arguments for the reason that the law of limitation has no application to the objections raised under section 33 of the act; the impugned judgment referred to the decision in mcd vs. ..... any award made by an arbitrator can be set aside only if one or the other term specified in sections 30 and 33 of the arbitration act, 1940 is attracted. ..... 13,87,160/- in favour of the respondent and directed the appellant to pay interest @ 15% per annum from 02.07.1993 to the actual date of payment of the award or date of decree, whichever is earlier. .....
Tag this Judgment!Court : Delhi
Reported in : AIR1983Delhi247; 22(1982)DLT53; 1983(4)DRJ8
..... the petition for its enforcement and the production of the arbitration proceedings being unnecessary for the purpose of enforcement of a foreign award in view of the provisions of the arbitration (protocol and convention) act, 1937 and/or the foreign awards (recognition and enforcement) act, 1961, notice to the arbitrators for the production of the award, proceedings and the documents was unnecessary and so was the further notice to the indian company, after the award has been filed, as envisaged in section 14(2) of the indian arbitration act, 1940. ..... , who spoke for the court observed that 'we will assume for the purpose of this appeal that section 34 of the arbitration act of 1940 invests a court in india with authority to stay a legal proceeding commenced by a party to an arbitration agreement against any other party there to in respect of any matter to be referred even when the agreement is to submit it to a foreign arbitration tribunal. ..... ' it would be interesting to remember in this context that section 3 of the act of 1937, which corresponds to section 34 of the act of 1940, could have been invoked to stay the suit only if there was a 'submission' to arbitration as distinct from a mere arbitration agreement. ..... the act of 1961 repealed the act of 1937 and was intended to give effect to the convention of the recognition and enforcement of foreign arbitral awards to which india was also a signatory. .....
Tag this Judgment!Court : Delhi
..... the arbitration and conciliation act, 1996 was enacted repealing the arbitration act, 1940 with the legislative intent of reducing court interference in arbitral proceedings at the three critical stages of pre and post reference stages as well as the post award ..... /2013 has urged at some length that challenge to the arbitral award is provided by way of a petition under section 34 of the arbitration act, 1940 which is to be adjudicated by a summary ..... our attention has been drawn to the rules made by the punjab and haryana high court under section 44 of the arbitration act, 1940 which were published in its notification no.45-r/x-w-5, dated 9th march, ..... .903. section 85(2)(b) of the arbitration act, 1996 contains the saving clause by virtue whereof the rules framed under the arbitration act, 1940 are deemed to be applicable to proceedings under the arbitration ..... neelam rathore, learned counsel has drawn our attention to section 44 of the arbitration act of 1940 which reads as follows: ..... the respondents have stipulated ad valorem court fee so far as enforcement of domestic awards under section 36 of the arbitration act, 1996 is concerned, fixed court fee is prescribed ..... we are conscious of the fact that proceedings under section 138 of the act cannot be treated as civil suits for recovery of the cheque amount with ..... the strategy of public interest litigation has been evolved by this court with a view to bringing justice within the easy reach of the poor and the disadvantaged sections of the .....
Tag this Judgment!Court : Delhi
..... the arbitration and conciliation act, 1996 was enacted repealing the arbitration act, 1940 with the legislative intent of reducing court interference in arbitral proceedings at the three critical stages of pre and post reference stages as well as the post award ..... /2013 has urged at some length that challenge to the arbitral award is provided by way of a petition under section 34 of the arbitration act, 1940 which is to be adjudicated by a summary ..... our attention has been drawn to the rules made by the punjab and haryana high court under section 44 of the arbitration act, 1940 which were published in its notification no.45-r/x-w-5, dated 9th march, ..... .903. section 85(2)(b) of the arbitration act, 1996 contains the saving clause by virtue whereof the rules framed under the arbitration act, 1940 are deemed to be applicable to proceedings under the arbitration ..... neelam rathore, learned counsel has drawn our attention to section 44 of the arbitration act of 1940 which reads as follows: ..... the respondents have stipulated ad valorem court fee so far as enforcement of domestic awards under section 36 of the arbitration act, 1996 is concerned, fixed court fee is prescribed ..... we are conscious of the fact that proceedings under section 138 of the act cannot be treated as civil suits for recovery of the cheque amount with ..... the strategy of public interest litigation has been evolved by this court with a view to bringing justice within the easy reach of the poor and the disadvantaged sections of the .....
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