1) This is a Petition filed under Section 34 of the Arbitration
and Conciliation Act, 1996 (Arbitration Act) challenging the award of
the learned sole arbitrator dated 3 May 2024. By the impugned award,
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PAGE NO. 1 OF 33
10 MARCH 2026
Neeta Sawant CARBP(L) 33928 OF 2024
the learned arbitrator has directed Petitioner to pay to the Respondent
an amount of Rs.2,76,82,030/- with further directions that some of the
amounts shall carry further interest in accordance with provisions of
Section 16 of the Micro, Small and Medium Enterprises Development
Act, 2006 (MSMED Act) from the date of the award till payment and
realization. The Arbitral Tribunal has further awarded interest in
accordance with the provisions of Section 31(7)(b) of the Arbitration
Act on the amount of Rs.1,87,04,974/- from the date of interim award
till realization.
