PREETHI SHENOY Vs. LIJU ISSAC

JUDGEMENT

(1.) Having heard learned counsel for the petitioner (Judgment-Debtor) and having perused the material placed on record, this Court is unable to find any reason to consider interference in the Execution Proceedings against the petitioner or to grant any further indulgence to the petitioner.

(2.) The relevant background aspects of the matter are that the petitioner and the respondent entered into an agreement, whereby the respondent was to carry out the work of construction of residential apartments. In view of non- payment even for the initial work, the respondent raised a dispute that was ultimately referred to the Sole Arbitrator in Arbitration Case No. 1 of 2016.

(3.) On 22.09.2016, the Sole Arbitrator made an award holding the petitioner liable to make payment in the sum of Rs.2,00,38,847/- together with costs of proceedings, quantified at Rs. 4,65,320/-. The petitioner questioned the arbitral award by way of an Application under Section 34 of the Arbitration and Conciliation Act, 1996, that was registered in the Court of I Additional District Judge, D.K., Mangaluru as Arbitration Suit No. 68 of 2016.