HDFC BANK LTD. Vs. A.F. ENTERPRISE

JUDGEMENT

(1.) This application has been filed for execution of an arbitral award. The award was passed in 2015. It appears that the award debtors filed an application under Section 34 of the Arbitration and Conciliation Act, 1996 in the year 2015 but nothing has been done to have the matter heard out. There is no stay of operation of the award.

(2.) I am told that the principal amount of the award would be around of Rs.45 lacs. Today, along with interest, the amount payable to the award holder would be in the region of Rs.70 lacs.

(3.) Learned Advocate for the award debtors seeks time to have the setting aside application heard out.