PRAKASH CHAND THAKUR Vs. STATE OF HIMACHAL PRADESH

JUDGEMENT

(1.) Heard and gone through the record.

(2.) By means of the present petition under Section 36 of the Arbitration and Conciliation, 1996 (hereinafter referred to as the Act), Petitioner has sought execution of award dated 10.6.2004, given by Shri Sanjeev Kuthiala, Arbitrator. Award was passed for a sum of Rs. 2,36,250/ - in favour of Petitioner-DH and against JDs-respondents, with interest @ 18% per annum (simple) from the date of award, till the payment and pendent lite interest @ 12% (simple).

(3.) Objections were filed against tha said award by the JDs-respondents, which came to be dismissed by this Court on 8.12.2008. When the objection petition was pending in this Court, a sum of Rs. 3,09,025/- had been deposited by the Respondents. An application was made for making the deposit, in which it was stated that the said amount was being deposited, to avoid payment of future interest @ 18% per annum, as awarded by the Arbitrator.