Related to Award passed by High court of Mysore
04-Oct-2023 (In Arbitration Law)
Respected sir
The Supreme industries ltd
Mumbai ------------ Claimant
V/s
GMMCO ltd ----------- Respondent
as per above sub matter Claimant ( The Supreme Ind. ltd) have GAS GENSET from Responded ( GMMCO ltd) amount 10548024/- by invoice no. 558 dt 22.09.2010 and GAS GENSET choked in March-12 reported by GMMCO Engineer and we have issued the notice to GMMCO 03.02.2014 as per section 21 of Arbitration & conciliation act and GMMCO refuse to appoint any arbitrator on its behalf. as the claimant (The Supreme Ind. Ltd) took nearly two years to file an application before high court under sec 11(6) act for appointment of arbitrator in op no 188/2017 dt 29.12.2017
the Decision of Respected High court on above the claimant (The Supreme ind ltd ) entitled to recover from the respondent ( GMMCO LTD) a sum of 10548024/- towards the price of Gas genset and accessories along with interest 12% from dt 29.12.2017 till date of payment.
" we should give award 18 % from 23.09.2010"
As per the provisions of the Arbitration and Conciliation Act one has to appoint the Arbitrator depending upon the provisions of in the Said agreement and as per the said orders of the court he is entitled to pay the amount declared irrespective of the interest but we call it as a loss of monetery compensation
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