pvr 1 ap316-07 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.316 OF 2007 M/s.Essar Projects Ltd. ...Petitioner vs. M/s.Edifice Developers and Projects Engineers Ltd. ...Respondent --- Mr.Shaunak Thakkar i/b. Nivit Srivastava, for Petitioner. Mr.R.D.Dhanuka i/b. Ms.Vaishali Chaudhari, for Respondent. --- CORAM: D.K.DESHMUKH, J. DATED: 18th November,2011. P.C.:- 1. It is common ground that the Award made by the learned Arbitrator which is under challenge in this petition in so far as it awards amount against the overhead loss, loss of profit, pendente lite interest on loss of profit and the amount of loss for underutilized plant and equipment and expenses & infrastructure costs will have to be set aside in view pvr 2 ap316-07 of the finding recorded by me in my order dated 11.11.2011 passed in Arbitration Petition no.313 of 2007. Similarly, the Award made by the learned Arbitrator for payment of Principal Retention money i.e. Rs.8.02,773/- and the Award made for payment of interest on Retention money i.e. Rs.5,31,840/- has to be maintained in view of the same order. Therefore, I heard the learned Counsel appearing for both the sides only on the validity of the Award made for payment of Rs.13,68,5778/- towards balance principal amount payable to the claimant for the work actually executed by the claimant and Rs.9,60,271/- as interest on that amount. After having heard the learned Counsel appearing for both the sides, I find that out of the amount of Rs.13,68,578/-, the petitioner has admitted that an amount of Rs.10,30,791/- is actually outstanding as the price of the work which has already been executed by the claimant before the joint measurement. The joint measurement which has admittedly taken place, the learned Arbitrator has considered and has held that the claimant is entitled to an amount of Rs.13,68,578/- as against the amount of Rs.10,30,791/- which was admitted by the claimant. pvr 3 ap316-07 Considering that part of the claim is admitted by the claimant and for recording his finding, the learned Arbitrator has appreciated the material available on record and has recorded the finding of fact, in my opinion, the Award made by the learned Arbitrator for payment of Rs.13,68,578/- and interest thereon cannot be disturbed. In the result therefore, the petition succeeds in part. The Award made by the learned Arbitrator is set aside, save and except that part of the Award made awarding amounts in favour of the claimant towards balance principal amount payable to the claimant for the work executed by the claimant i.e. Rs.13,68,578/-, interest on that amount i.e. Rs. 9,60,271/-, principal retention money i.e. Rs. 8,02,773/-, interest on retention money i.e. Rs. 5,31,840/-. No order as to costs. (D.K.DESHMUKH, J.) ---