(1) This is a petition under section 34 of the Arbitration and Conciliation Act, 1996 to challenge an award dated 1st December, 2006. The learned arbitrator declared that a mortgage deed of Rs. 10,45,000/- and interest thereon is fully satisfied and stood discharged as on 31st March, 1991, directed the original petitioner to reassign and deliver the mortgaged property to the Claimant i.e. Respondent No. 1, admeasuring about 2000 square feet on the second floor and the entire first floor of a building named Simplex House which was part of the mortgaged property, latest by 31st January, 2007. The original petitioner was also directed to return to respondent No. 1 by 31st January, 2007, the original deed of mortgage as also the original deed of transfer of the mortgage and all like documents. The arbitrator also directed the original petitioner to pay respondent No. 1, a sum of Rs. 27,36,351/-with simple interest thereon at eighteen per cent per annum from 1st September, 2000, till payment and compensation at the rate of eighteen per cent per annum on Rs. 1,42,60,046/-, being the value of the said first and second floor premises from 12th April, 2000, being the date of expir