JUDGMENT - SHAH M.B., C.J.:—The Maharashtra State Electricity Board (hereinafter referred to as “the Board”), by its order dated 4th July, 1980, accepted the tender of respondent No. 1 company for supply of Squirrel ACSR Conductors and Weasel ACSR Conductors (hereinafter referred to as the “said goods”). The said goods were supplied from December 1980 to April 1983. The amount therefore was paid finally prior to April 1984 after necessary deductions. No. dispute was raised by any party. The Board woke up in 1988 and demanded Rs. 7 lacs and odd towards difference of rate of drawback on excise duty as per the terms of contract. The company agreed to pay Rs. 2.56 lacs. However, correspondence went on and, vide its Advocate's notice dated 19th May, 1992, the Board demanded from the company in all Rs. 20 lacs with interest. Thereafter the company raised claims and matter was referred to Arbitrators. The arbitrators awarded to the company Rs. 13,47,814.91 towards its claim and Rs. 25,44379.14 by way of interest. Objections filed by the Board were rejected by the learned Single Judge. Hence these Appeals. in these Appeals questions involved are :

(1) whether the Award passed by the Arbitra

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