JUDGMENT (Per B. Seshasayana Reddy, J.)

This Civil Miscellaneous Appeal is filed under Section 39 of the Indian Arbitration Act, 1940 questioning the order dated 5.1.2000 passed in O.P.No.14 of 1990 on the file of 1st Additional Senior Civil Judge, Visakhapatnam, whereby and whereunder the learned Additional Senior Civil Judge allowed the application filed under Section 30 of the Indian Arbitration Act, 1940 and set aside the award dated 25.9.1989 and directed the appellant herein to pay seigniorage fee and cess amounting to RS.27,84,617.1 0 together with interest @ 12 percent from 23.6.1988.

2. Back ground facts of the case, in brief, are:

Visakhapatnam Port Trust (hereinafter referred to as Claimant) invited tenders for execution of C2 and C3 contract works. They are land based works at Lova Gardens, and Marine Works and break water construction. Continental Construction Company (hereinafter referred to as the Contractor) submitted tender and the same came to be accepted after due negotiations. The letters of intent for both C2 and C3 contracts were issued on 7.5.1971 and agreements were entered into between the parties. The contractor was permitted to use the quarries of the claim

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