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2017 (10) TMI 145 - SC - Indian LawsArbitration proceedings - whether the Division Bench was justified in considering the arbitrability of the dispute for the first time in the appeal? - Held that:- Intervention of the court is envisaged only in few circumstances like fraud or bias by the Arbitrators, violation of natural justice. The court cannot correct the errors of the Arbitrators. Division Bench was not justified while considering the arbitrability of the disputes for the first time, particularly, when the respondent has not urged the issue relating to ‘No Claims Certificate’ before the Chief Justice, Arbitral Tribunal or before the learned Single Judge. Whether the Arbitral Tribunal was justified in awarding interest on the delayed payments in favour of the appellant? - Held that:- It is clear that the appellant is not entitled for any interest on the amount awarded by the Arbitral Tribunal. The Arbitral Tribunal had determined the amount payable to the appellant in a sum of ₹ 11,13,136/- and interest of ₹ 12,44,546/-. A sum of ₹ 38,82,150/- was deposited by the respondent which includes the award amount, interest for the pre-reference period, pendente lite and post-award interest. We have held that the appellant is not entitled for any interest. The appellant has already withdrawn 50% of the amount deposited by the respondent, which is in excess of the award amount exclusive of interest. Having regard to the facts and circumstances of the case, we deem it proper to direct the respondent not to recover the excess amount withdrawn by the appellant. Ordered accordingly.
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