VALMIKI J. MEHTA, J

This appeal challenges the impugned order dated 25.10.2005 of the learned Single Judge, whereby, the learned Single Judge was pleased to dismiss the objections filed by the appellant to the award dated 31.01.2002.

2. By the award, the respondent was held entitled to an amount of USD 52,913.97 being the balance of the freight charges payable by the appellant to the respondent with respect to a charter party agreement entered into between the parties. The award also granted interest at international lending rates (LIBOR) of 7% from the date of reference till the date of payment.

3. Before the learned Single Judge, there were principally four objections which were raised by the appellant to the award:-

.(i) that the counter-claim filed by the appellant has been wrongly dismissed as time barred and not permitting adjustment for the short delivery of goods,

.(ii) the respondent ought not to have been granted at least the freight charges on said short delivery of goods,

(iii) the rate of interest granted until the award is on the higher side,

(iv) the award should have been passed in rupees and not in dollars because there has been appreciation of value of dollars as

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