Full Text
CS(OS) 2160/2012
TOMMORROWLAND LIMITED ..... Plaintiff
Through: Mr. Pawan Sachdeva in person.
Through: None.
JUDGMENT
1. This hearing has been done through hybrid mode.
2. This matter has been put up on the office noting.
3. The error in the paragraph 127 of the judgment dated 27th April, 2022 is corrected. The date of award shall now be read as 28th May, 2012 instead of 30th May, 2012. Corrected paragraph 127 is set out below: “Insofar as award of interest is concerned, the Underwriters cannot be held fully responsible for the delay in appointment of arbitrator or for the period when the arbitral proceedings of the present proceedings have remained pending. Accordingly, the amount awarded above as damages, shall be paid along with interest @7% p.a. from the date of pronouncement of the award i.e., 28th May, 2012 till today. If the entire awarded amount is paid within a period of 8 weeks, no further interest would be liable to be paid. However, in case of non-payment, simple interest on the entire awarded sum [i.e., principal amount + the interest @ 7% per annum from the date of award till today] would be liable to be paid @ 4.5% per annum. The costs of proceedings as awarded by the ld. Arbitrator are upheld.” 2023/DHC/000995
4. Ordered accordingly. The present order shall be uploaded as a Corrigendum to the judgement/order dated 27th April 2022.
PRATHIBA M. SINGH, J. FEBRUARY 9, 2023/dk/kt