State Board Of Technical Education vs. Marverick Consultancy Pvt. Ltd

IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO(S). 6538 OF 2021 (arising out of SLP(Civil)No. 4775/2020)

STATE BOARD OF TECHNICAL EDUCATION APPELLANT(S)

VERSUS

MARVERICK CONSULTANCY PVT. LTD. RESPONDENT(S)

O R D E R

Leave granted.

The appeal is directed against the judgment and order dated 16.09.2019 passed by the Division Bench of the High Court of Jharkhand at Ranchi in Commercial Appeal(D.B.)No.08/2018.

A limited notice was issued by this Court by an order dated 14.02.2020, which reads thus:

"Delay condoned.

Issue notice on the limited issue raised by the petitioner that the counter claim was not considered by the arbitrator; and the second issue that interest of 20% has been awarded.

We direct that there will be no disbursement of the amounts awarded during the pendency of the Special Leave Petition.

Three weeks' time is granted to file additional documents pertaining to the counter claim. Two weeks' time for rejoinder.

List the matter after five weeks, on a Wednesday, for final hearing."

We have heard learned counsel for the parties at length and find no reason to interfere so far as the submission made by the appellant in reference to the counter claim not being considered by the Arbitrator in its award dated 23.9.2017 which has been later confirmed by the impugned judgment in the instant proceedings.

So far as the rate of interest awarded by the Arbitrator is concerned, taking note of the view expressed by this Court in 2019 (11) SCC 465, we consider it appropriate to alter the rate of interest from 20% to a uniform rate of interest of 9% payable in entirety till the date of realization in terms of the award dated 23.9.2017 which stands confirmed on dismissal of the appeal.

Consequently, the Civil Appeal stands disposed of with the modification in the rate of interest from 20% to a uniform rate of interest of 9% as indicated above.

2

Pending application(s), if any, shall stand disposed of.

……………………………………………J (AJAY RASTOGI)

……………………………………………J (ABHAY S. OKA)

NEW DELHI; OCTOBER 28, 2021. S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS

Petition(s) for Special Leave to Appeal (C)No.4775/2020

(Arising out of impugned final judgment and order dated 16-09-2019 in COA(DB) No. 08/2018 passed by the High Court Of Jharkhand At Ranchi)

STATE BOARD OF TECHNICAL EDUCATION PETITIONER(S)

VERSUS

MARVERICK CONSULTANCY PVT. LTD. RESPONDENT(S)

(FOR ADMISSION and I.R. and IA No.20742/2020-EXEMPTION FROM FILING O.T. )

Date : 28-10-2021 This petition was called on for hearing today.

• CORAM : HON'BLE MR. JUSTICE AJAY RASTOGI HON'BLE MR. JUSTICE ABHAY S. OKA
• For Petitioner(s) Mr.Arunabh Chaudhary, AAG Ms. Pragya Baghel, Adv. Ms. Adishree Dutta, Adv. Mr. Jayant Mohan, AOR
• For Respondent(s) Mr. Sujoy Kumar, Adv. Mr. Arindam Ghose, Adv. Mr. Arunava Mukherjee, AOR

UPON hearing the counsel the Court made the following O R D E R

Leave granted.

The Civil Appeal is disposed of in terms of the signed order.

Pending application(s), if any, shall stand disposed of.

(NIRMALA NEGI) (BEENA JOLLY) COURT MASTER (SH) COURT MASTER (NSH) (Signed order is placed on the file)