Overeas Drilling Limited vs Directorate General of Hydrocarbons of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

DELHI HIGH COURT
MANMOHAN, NAVIN CHAWLA
Overeas Drilling Limited – Appellant
Versus
Directorate General of Hydrocarbons of India – Respondent

Table of Content
1. challenge to arbitral award and reliefs granted (Para 2 , 3 , 4)
2. claim for interest under section 31(7)(b) (Para 5 , 6 , 7)
3. interpreting interest provisions in the arbitration act (Para 9 , 10 , 11 , 12 , 13)
4. distinction between sums and costs in arbitration (Para 14 , 15 , 16 , 17 , 18 , 19)
5. dismissal of appeal (Para 20)

JUDGMENT

Navin Chawla, J. (Oral)--The appeal has been taken up today as 18.10.2021 was declared a holiday.

2. This appeal has been filed by the appellant challenging the judgment and order dated 06.01.2020 passed by the learned Single Judge of this Court in OMP(ENF.)(COMM.) 2/2018, recording the satisfaction of the Arbitral Award and disposing of the Execution Petition as satisfied.

3. The Arbitral Award dated 29.08.2009 had granted the following reliefs in favour of the appellant:

"A) The Respondent shall pay to the Claimant the sum of USD 6,201,867.00 together with interest at the rate of 6.82985% per annum from 1st December, 2006 until payment.

B) The Respondent shall also pay to the Claimant the sum of Rs.25,00,000/- towards costs.

C) The Respondent shall reimburse the Claimant the Stamp Duty payable on this Award under the law.

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DELHI HIGH COURTMANMOHAN, NAVIN CHAWLAOvereas Drilling Limited – AppellantVersusDirectorate General of Hydrocarbons of India – Respondent

DELHI HIGH COURT
MANMOHAN, NAVIN CHAWLA
Overeas Drilling Limited – Appellant
Versus
Directorate General of Hydrocarbons of India – Respondent