R.Jayasimha Babu,J.

1. The appellant’s prayer to set aside the award that had been made against the appellant having been rejected and a decree having been made in terms of the award by the learned single Judge, these appeals have been filed.

2. A claim was made against the present appellant by the 1st respondent company, claiming a sum of Rs.6,78,578, together with future interest thereon at 15% p.a. from 1.10.1995. It was alleged that that amount was payable to the claimant in view of the default committed by the appellant of its obligation under an agreement dated 1.6.1979, to which the claimant as also the appellant were parties. The claimant had alleged that under that agreement, the unit which was owned by the claimant at Bangalore had been handed over to the appellant and it was the obligation of the appellant inter alia to discharge a loan which was outstanding and due to the Bank. It was alleged that default had been committed by the appellant and, therefore, the agreement was terminated with effect from 31.7.1984 and the unit repossessed on 1.8.1984. It was alleged that for the period from June 1979 to July 1984, the appellant owed a sum of Rs.6,18,037, which w