JUDGMENT

R.V.Raveendran, J. —

Leave granted.

2. The first respondent entrusted certain construction work to the appellant under a contract in the year 1995. Alleging breach by the first respondent (for short ‘Railways’) the appellant invoked the arbitration Clause and the disputes were referred to an arbitral tribunal of which respondents 2 to 4 are the members. The arbitral tribunal made a non-speaking award dated 14.5.1999 in favour of the appellant. The High Court by order dated 9.1.2001 set aside the said award and remitted the matter to the arbitral tribunal with a direction to make a reasoned award after fresh consideration. The arbitral tribunal accordingly passed an award dated 5.12.2001 awarding certain amounts with a direction that the award amount should be paid to the appellant by 4.1.2002 and if it failed to do so, the appellant will be entitled to simple interest at 10% per annum on the amounts awarded from 5.12002 till date of payment. That is, the arbitral tribunal awarded only future interest and refused to award the interest for pre-reference period and interest pendente lite. It may be mentioned that the award rejected two of the claims of the appellants and reje