JUDGMENT :

A.S. Chandurkar, J.

1. These appeals filed under Section 37 of the Arbitration and Conciliation Act, 1996 (for short, the Act of 1996) take exception to the judgment of the learned Principal District Judge, Chandrapur in Misc. Civil Application (Arbitration) No.63/2004 dated 15/12/2006. By that judgment the application filed by the appellant in First Appeal No.240/2007 under Section 34 of the Act of 1996 challenging the award passed by the sole Arbitrator on 04/03/2004 came to be partly allowed by maintaining the award of the Arbitrator dated 04/03/2004 on all counts except one. The only modification directed by the learned Principal District Judge was in the rate of future interest which was reduced from 25% per annum to 18% per annum from the date of the award till realization. The original applicant being aggrieved by the judgment of the learned Principal District Judge in so far as it maintained the award passed by the Arbitrator has preferred First Appeal No.240/2007. The original claimant being aggrieved by the reduction in the rate of interest from 25% per annum to 18% per annum has challenged that part of the judgment by preferring First Appeal No.213/2007.

2. The