ORDER

These appeals arise out of a judgment dated 1st August, 2001, passed by a Division Bench of the High Court of Delhi in FAO (OS) No. 78 of 1996, whereby and whereunder the pre-interest reference and pendente lite interest has been denied and the post-interest reference was reduced from 18% to 10% per annum.

2. The appellant s tender has been accepted by the respondent and an agreement was executed between the parties for raising 308 dwelling units. The agreement provided for resolution of dispute by arbitration. It is not disputed that the appellant completed the work. However, certain disputes arose. As per the arbitration agreement, the matter was referred to the sole Arbitrator, who entered into the reference. Before the Arbitrator, the appellant herein claimed pre-interest reference as also future interest at the rate of 24% per annum. On 18th December, 1992, the Arbitrator gave an Award for a sum of Rs. 24,64,424/- against the appellant s claim of Rs. 46,92,461/-. The Arbitrator allowed the claim of interest raised by the appellant herein and directed that interest @ 18% per annum should be paid on the awarded amount in respect of pre-reference, pendente lite and post Award