JUDGMENT

Rajendra Babu, J.-In respect of a dispute arising out of a money claim made by the appellants against respondent the matter was referred to arbitration. The reference was entered into in January 1983. The arbitrators published their award on 15.2.1986 which, after setting out certain matters which were preliminary in nature, inter alia, stated as under :-

"We J.C. Shah and P.S. Subramaniam, Arbitrators appointed by the parties do hereby award and order that the Company (Indian Cements Ltd.) do pay to Star Construction and Transport Company Rs. 65,00,000 (in words Rupees Sixty Five Lacs) in full and final settlement of the claim of Star Construction and Transport Company with interest at the rate of 9 (nine) per cent per annum from the date hereof; and we further award and declare that all the disputes referred to by the parties under the claim made by the Star Construction and Transport Company and denied by the Indian Cements Ltd. are finally disposed of by this Award and that no part of the claim remains undetermined; and we further award and order that each party to bear its respective cost of and incidental to the arbitration proceeding including its share of the amount