Judgment :-

Tarun Chatterjee, J.

Leave granted.

2. This appeal by Special Leave arises from a judgment and order dated 5th of February, 2008 of the High Court of Bombay in Appeal No. 485 of 2006 whereby the Division Bench of the High Court had set aside the order dated 25th of January, 2006 of the learned Single Judge of the same High Court dismissing an Arbitration Petition being Arbitration Petition No. 499/2003 filed by the respondents.

3. The crucial question that arises for our consideration is with respect to the interpretation of the term appeal appearing in Section 7 of the Interest on Delayed Payments to Small Scale and Ancillary Undertakings Act, 1993 (hereinafter referred to as the Interest Act).

4. The facts of the case can be summarised as follows:

The appellant company is a Small Scale Industrial Undertaking for the purposes of the Interest Act. The Maharashtra State Electricity Board (in short MSEB) issued a Work Order dated 27th of March, 1995 in favour of Maharashtra Small Scale Industries Development Corporation (hereinafter referred to as the Corporation). The order was for supply of pipeline, bends and fixtures to be used for laying a slurry pipeline at the Chand