Law: Arbitration Act, 1940

Section: 29,28,Sched.1,14

Law: Arbitration Act, 1940

Section: 29,28,Sched.1,14

Law: Stamp Act, of 1899

Section: 3,Sched.1,12

(a) Arbitration Act (X of 1940)-------S. 29---Interest on award---Award of interest by arbitrator. with effect from date of award till payment of amount---Validity---Award was ammended by High Court to the extent that interest awarded was to be considered upto the date of award and not beyond that. (b) Arbitration Act (X of 1940)--- ----S. 28 & Sched. 1, Condition 3---Power to court only to enlarge time for making of award---Defendant's objection to award having beenissued after six months of completion of arbitration_ proceedings---Validity---Both the parties having participated in the proceedings and defendant having admitted that no prejudice had been caused by issuance of the award at a later stage, objection was repelled by High Court. 1998 SCMR 816; PLD 1990 SC 359 and AIR 1949 All 399 ref (c) Stamp Act (II of 1899)--- ----S. 3, Sched. 1 & Art.12---Arbitration Act (I of 1940), S.14---Award---Stamp duty--Award issued on stamp paper not properly valued---Defendant had objected that the award was issued on stamp paper, which was not properly valued---Validity---Award showed that same was written on a stamp paper of proper value---Objection was repelled. Bilal A. Khawaja and Muhammad Nasir Khan for Plaintiff/Claimant Sajid A. Qureshi for Defendant/Objector Date of hearing: 30th November, 2011. JUDGMENT RIAZ AHMAD KHAN, J.--- Parties in the instant case had agreed to decide the case through arbitration. With the consent of the parties, arbitration proceedings were initiated and Award was filed by the Arbitrator in this Court. Learned counsel for the plaintiff/claimant M.A. Aleem Khan, Advocate, had no objection, whereas objection was filed on behalf of defendant/objector/respondent. 2. Learned counsel for the defendant/objector raised the first objection that Award was issued after about six months of the completion of arbitration proceedings. The second objection was that the Award was issued on stamp paper, which was not properly valued and the third objection was that the learned Arbitrator awarded interest at the rate of 14% with effect from the date of Award till the payment of amount. 3. The objections were resisted by the learned counsel for the…

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