FAO No.5080 of 2006 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH FAO No.5080 of 2006 (O&M) Date of Decision: 17.3.2010 Punjab State Civil Supplies Corporation Limited and another ..Appellants. Vs. M/s Ganesh Rice Mills and another ..Respondents. CORAM: HON'BLE MR.JUSTICE RAKESH KUMAR JAIN Present: Ms.Deepali Puri, Advocate for the appellants. Mr.Pardeep Goyal, Advocate for the respondents. RAKESH KUMAR JAIN, J. This order shall dispose of FAO Nos.5080 of 2006 titled as Punjab State Civil Supplies Corporation Limited Vs. M/s Ganesh rice Mills and another and 5310 of 2006 titled as Punjab State Civil Supplies Corporation Limited Vs. M/s Ganesh Rice Mills and others. The only submission made by the counsel for the appellants is that while allowing the Objection under Section 34 of Arbitration and Conciliation Act, 1996 (for short `the Act'), the learned District Judge has held that after the adjustment of Rs.30,000/- which was paid towards security, no amount is left to be paid by the miller. Counsel for the appellants has argued that award of the Arbitrator dated 12.8.2003 is for a total amount of Rs.73,444/- out of which Rs.30,000/- when adjusted, miller would be liable to pay Rs.43,444/-. In this regard, counsel for the FAO No.5080 of 2006 -2- respondents has argued that basically award is of Rs.30,000/- and rest of the amount i.e. Rs.43,444/- which constitutes the total amount of Rs.73,444/- is interest on the said amount, which is calculated @ 18% from 1.7.95 to 30.6.2003 is 8 years and since principal amount had already been paid, therefore, there is no question of payment of any interest thereon. I agree with the argument raised by the counsel for the respondents. In view of the above, I do not find any merit in the present appeals and the same are hereby dismissed. (Rakesh Kumar Jain) 17.3.2010 Judge Meenu