In the High Court for the States of Punjab and Haryana at Chandigarh. FAO No. 3744 of 2009 Decided on Apri 07,2010. M.S.Khan --Appellant vs. M/S.HMT Limited with its registered office at 59, Bellary Road, Bangalore and others --Respondents. CORAM: HON'BLE MR.JUSTICE RAKESH KUMAR JAIN Present: Mr.Gaurav Mohunta,Advocate,for the appellant Mr.Anand ChhibbarAdvocate,for respondent No.1. Mrs.K.B.Jain,Advocate,for legal representatives of respondent No.3. Rakesh Kumar Jain, J, (Oral) After a lengthy argument, controvery boils down to the rate of interest, which according to learned counsel for the appellant, is excessive. It is submitted that rate of interest should have been reduced from 18% to 12%. Mr. Anand Chhibber, learned counsel appearing for the respondent did not object to this argument and in view thereof, award of learned Arbitrator is modified to the extent that the appellant shall pay interest @ 12% instead of 18%. Learned counsel for respondent No.1. further submits that they may be granted liberty to amend their execution application as per modification in the award of the Arbitrator by calculating the inteerest component from 18% to 12%. Request made is genuine. Therefore, the same is allowed. Respondent No.1. is at liberty to amend the FAO No.3744 of 2009 -2- execution application by incorporating 12% interest instead of 18% in the total amount of claim. No other argument has been raised by learned counsel for the parties in this case. In view of the above, the present appeal is partly allowed as indicated above. April 07,2010 (Rakesh Kumar Jain) RR Judge