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2001 (1) TMI 902 - SUPREME COURTPower of Court to set aside arbitration award - Held that:- Appeal dismissed. Having regard to the facts and circumstances of the case we consider it just and appropriate to award future interest at the rate of 12 per cent per annum from the date of decree till payment. The award of interest from 28-9-1982 to 10-1-1985 was justified by the High Court in the impugned judgment. The contention that there was no basis for choosing the date 28-9-1982 is answered in the judgment of the High Court itself stating that it was on 28-9-1982 that the trust repudiated the contract and forfeited the deposit made by the company and that the Arbitrator entered into reference on 10-1-1985. We agree with the reasons recorded by the High Court in this regard. Further as already noticed above, the award is made in lump sum. As rightly observed by the High Court, unless there appears to be a mistake on the face of the award and the documents appended or incorporated thereto which form part of the award, it cannot be set aside even with respect to interest part of it. In this view of the matter, we hold that the company is entitled for interest at the rate of 18 per cent per annum from 28-9-1982 to 10-1-1985 and future interest at the rate of 12 per cent per annum from the date of decree till payment.
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