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Judgment
8 paragraphs · 244 wordsKurian, J.—Leave granted.
The main grievance of the appellants is that for the delayed payment of the benefits arising out of the award passed in 2005, no interest has been awarded. Learned counsel appearing for the respondent/Bank submits that so long as there is no direction for grant of interest in the award, the Bank cannot be compelled to pay interest. But the fact remains that the award has been fully implemented only after a delay of six years.
Having regard to the peculiar facts of this case, we are of the view that it is in the interest of both the parties that peace is purchased. Therefore, in exercise of our jurisdiction under Article 142 of the Constitution of India, we direct the respondent/Bank to pay an amount of Rs. 2,00,000/- (Rupees Two Lacs) towards full and final settlement of all the claims of the appellant, which shall be paid within two months from today.
The appeal is disposed of, as above.
Needless also to make it clear that since this is a judgment passed exercising our jurisdiction under Article 142 of the Constitution of India, it will not be treated as a precedent.
We record our appreciation for the service rendered by Mr. Subramonium Prasad, learned senior counsel for assisting the Court to arrive at a decision, as above.
Pending applications, if any, shall stand disposed of.
There shall be no orders as to costs.