In Brief
Misra and Co, a contractor, obtained an arbitration award of Rs. 5,78,873 against Damodar Valley Corporation in 1988. The award was decreed in 1991 with 10% per annum interest, but the corporation neither paid nor appealed. When Misra sought to execute the decree in 2006, the corporation objected on limitation grounds. The Supreme Court found the corporation had deliberately delayed formal decree preparation through successive objections, frustrating arbitration's speedy purpose. Rather than deciding on limitation technicalities, the Court called upon the corporation to propose a conciliatory settlement, emphasizing that public sector institutions should resolve disputes equitably rather than prolong litigation at public expense."
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