State of Maharashtra v. M/s. Someshwar Mehta
Case at a glance
Provisions considered
Judgment
Mr. General with Ms. Geeta Shastri, AGP for Appellant. A. Kumbhkoni, Assist. Advocate Mr. S. U. Kamdar, Sr. Advocate i/b Mr. Alankar Kirpekar, for the respondent. CORAM : R. M. S. KHANDEPARKAR : R. M. S. KHANDEPARKAR CORAM CORAM : R. M. S. KHANDEPARKAR ANDANDAND D.D.D. G. KARNIK, JJ. G. KARNIK, JJ. G. KARNIK, JJ. DATEDATEDATE : JUNE 7, 2007. : JUNE 7, 2007. : JUNE 7, 2007. PCPCPC [ Per : D.G. KARNIK, J.]:- [ Per : D.G. KARNIK, J.]:- [ Per : D.G. KARNIK, J.]:- . After having argued for considerable time, counsel for parties agreed that the following order be passed by consent.
The award dated 1st June 1999 passed by learned Arbitral Tribunal the Court, subject to the modification of the rate of interest as indicated below. - 2 -
RoadRoadRoad Taking into consideration the law laid Supreme Court Rajasthan Rajasthan Rajasthan Transport Transport Transport Corpn. Corpn. Corpn. Vs. Vs. Vs. Indag Indag Indag Rubber Rubber Rubber [(2006) [(2006) [(2006) 7 7 7 Supreme Supreme Supreme Court Court Court Cases Cases Cases 700] 700] 700] wherein exercised discretion reduce State State State Ltd. Ltd. Ltd. interes, interest allowed amount reduced 12% P.A. 18% P.A. Except modification awarding interest, learned Single Judge making the award rule of the Court is maintained.
The respondent is permitted to withdraw amount deposited appellant extent principal awarded together interest @ 12% P.A. Excess amount, if any, shall be refunded to the appellant with accrued interest. KHANDEPARKAR, J.] G. KARNIK, J.] [R.M.S. KHANDEPARKAR, J.] [D. G. KARNIK, J.] [R.M.S. [D. KHANDEPARKAR, J.] G. KARNIK, J.] [R.M.S. [D.
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