The Oriental Insurance Company Ltd v. Hcl Infosystems Limited

FAO(OS) (COMM) 112/2023

* IN THE HIGH COURT OF DELHI AT NEW DELHI %

Date of Decision: July 20, 2023 + FAO(OS) (COMM) 112/2023, CM APPL. 27402/2023

THE ORIENTAL INSURANCE COMPANY LTD. ..... Appellant

Through: Mr. Ansul Kumar, Advocate.

versus

HCL INFOSYSTEMS LIMITED

..... Respondent

Through: Mr. Amitesh Chandra Mishra, Ms. Shruti Shrivastava and Ms. Ankita Priya, Advocates.

CORAM:

HON'BLE MR. JUSTICE V. KAMESWAR RAO

HON'BLE MR. JUSTICE ANOOP KUMAR MENDIRATTA V. KAMESWAR RAO (Oral) CAV 273/2023

¶1Since, the caveator has entered appearance, the Caveat stands discharged. CM APPL. 27401/2023 (Exemption)

¶2Allowed, subject to all just exceptions.

¶3The application stands disposed of. CM APPL. 27400/2023 (Condonation of delay)

¶4For the reasons stated in the application, the delay in filing the appeal is condoned.

¶5The application stands disposed of. FAO(OS) (COMM) 112/2023, CM APPL. 27402/2023 (Stay)

¶6Learned counsel for the parties state that the parties have agreed between themselves to confine the interest as awarded by the learned Arbitrator to 12% per annum instead of 18% per annum by drawing our

FAO(OS) (COMM) 112/2023

attention to paragraph 58 of the Award. They also state that in view of the limited challenge to the award, on interest, the appeal be disposed of.

¶8The learned counsel for the appellant states on instruction that awarded amount shall be paid to the respondent within a period of four weeks from today. The statement be taken on record.

¶9In view of the above, we dispose of the appeal. The pending application also stand disposed of.

V. KAMESWAR RAO, J.

ANOOP KUMAR MENDIRATTA, J. JULY 20, 2023/mr