HIMACHAL FUTURISTIC COMMUNICATION LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) Petition for interim measures under Section 9 of Arbitration Act, 1996, after the making of the arbitral award, but before its enforcement, is for admission.

(2.) The respondent Union of India has preferred petition under Section 34 of the Act with respect to the said arbitral award. The award is for a sum of Rs.55 Crores with simple interest thereon @ 9% per annum till payment or realization, by the respondent Union of India to the petitioner.

(3.) The petitioner seeks interim measure of directing the respondent Union of India to deposit the awarded amount in this court, to be kept in a fixed deposit in a nationalized bank.