FAO No.1367 of 2011 (O&M) IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH FAO No.1367 of 2011 (O&M). Decided on: February 09, 2011. Union of India. .. Appellant VERSUS M/s Saraogi Sons and another. .. Respondents * * * CORAM: HON'BLE MR.JUSTICE M.M.S.BEDI 1. Whether reporters of local papers may be allowed to see the judgment? 2. Whether to be referred to the Reporter? 3. Whether the judgment should be reported in the Digest? * * * PRESENT Mr.S.K.Sharma, Advocate, for the appellant. M.M.S. BEDI, J. (ORAL) CM No.3837-CII of 2011 Misc. application is allowed. For the reasons mentioned in the application, delay of 171 days in filing of the appeal is condoned. . . . 1 FAO No.1367 of 2011 (O&M) FAO No.1367 of 2011 (O&M) Counsel for the appellant has contended that interest @ 12 per cent per annum awarded from the date of Award till the date of actual payment has been wrongly held permissible by the lower appellate Court. I have heard the counsel for the appellant and gone through the Award and the order passed by the Court in exercise of powers under Section 34 of the Arbitration and Conciliation Act, 1996 (for short 'The Act'). It has been held that in view of the terms of the arbitration agreement, the Contractor shall be entitled to interest pendente lite and future @ 18 per cent per annum whereas interest has been awarded @ 15 per cent per annum till 1998 and @ 12 per cent per annum for the subsequent period. No ground is made out for interference in the exercise of powers under Section 37 of the Act in the order passed by the Court under Section 34 of the Act. Dismissed. (M.M.S.BEDI) JUDGE February 09, 2011. rka . . . 2