H.P.HOUSING & URBAN DEVT.AUTH.& ANR versus RANJIT SINGH RANA

H.P.HOUSING & URBAN DEVT.AUTH.& ANR versus RANJIT SINGH RANA

Deposit of the award amount by the appellants into the High Court on 24.5.2001 constitutes payment to the respondent for purposes of Section 31(7)(b), and liability for post-award interest at 18% p.a. ceases from that date.

Source-derived case information.

Parties
Appellant: H.P. Housing & Urban Development Authority & Anr; Respondent: Ranjit Singh Rana
Jurisdiction
India
Judgment Date
12 March 2012
Procedural Posture
Civil Appeal / Judgment on Appeal From High Court Order in Execution Petition
Outcome
Appeal partly allowed
Legal Topics
Post Award Interest, Deposit of Award Amount, Arbitration and Conciliation Act, Section 31(7)(b)
Arbitration Civil Procedure Post Award Interest Deposit of Award Amount Arbitration and Conciliation Act, Section 31(7)(b)

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Parties

H.P. Housing & Urban Development Authority & Anr

Appellant

Ranjit Singh Rana

Respondent

Procedural Posture

Civil Appeal / Judgment on Appeal From High Court Order in Execution Petition

Legal Issues

  1. 1 Does deposit of the entire award amount into High Court amount to payment to respondent, extinguishing liability for post-award interest under Section 31(7)(b) of the Arbitration and Conciliation Act, 1996?

Ratio Decidendi

Deposit of the award amount by the appellants into the High Court on 24.5.2001 constitutes payment to the respondent for purposes of Section 31(7)(b), and liability for post-award interest at 18% p.a. ceases from that date.

Court Disposition

Appeal partly allowed

Orders

  • Impugned order of High Court modified
  • Appellants liable to pay interest @18% p.a. for post-award period from date of award until 24.5.2001