K.RAVICHANDRABAABU
Chettinad International Coal Terminal Private Limited – Appellant
Versus
Kamarajar Port Limited – Respondent
This original petition is filed to set aside the award dated 29.07.2014 to the extent dismissing the petitioner's claim towards augmentation charges, compensation sought and exclusivity claimed under the terms of the agreement between the parties and also against the award of interest at 15% per annum.
2. The first respondent in the above Arbitration O.P. viz., Kamarajar Port Trust filed A.No.3726 of 2015 for a direction to the respondent in this application who is the petitioner in the main arbitration O.P. to deposit an amount of Rs.88,68,00,000/-in an interest bearing non-lien bank account.
3. Facts of the case are as follows:-
During the month of October 2002, the first respondent invited tenders for the purposes of setting up a common user coal terminal with all backup facilities and equipment on a Build-Operate-Transfer (BOT) basis for a period of 30 years. A consortium comprising of the South India Corporation Limited (SIC), Portia Management Services Management Limited (PMSL), Navayuga Engineering Limited (NEL) participated jointly in the tendering process for the coal terminal amongst other bidders. The bid of the above said consortium was duly accepted by the first
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