ORDER :

Heard Shri. A. Murali, learned Advocate for petitioner, Shri. R. Subramanya, learned Additional Advocate General (AAG) and Shri. M.Vinod Kumar, learned AGA for respondent-State.

2. Briefly stated the facts of the case are, petitioner obtained an award dated May 21, 2012 from the Arbitral Tribunal headed by Justice S. Venkataraman (Retd.) against Karnataka State Road Transport Corporation ('KSRTC' for short).

3. The Arbitral Tribunal held that petitioner was entitled to receive Rs.3,51,12,209.63 ps. with interest at 12% p.a. from April 6, 2010. Accordingly, it directed KSRTC to pay Rs.4,40,65,822.63 ps. (including interest up to the date of the award) together with interest at 12% p.a. on the determined amount till the date of payment. In addition, the Tribunal also allowed petitioner's claim for Rs.2,70,48,509.94 ps. towards reimbursement of tax on works contract payable with interest at 12% p.a. from the date of the Award till the date of payment.

4. KSRTC challenged the Award under Section 34 of the Arbitration and Conciliation Act, 1996 ('Arbitration Act' for short) in A.S. No.63/2012 and the same stood dismissed by judgment and order dated February 7, 2017.

5. Petitioner sub