The Applicant-Judgment Debtor, based upon the final Arbitration Award dated 25 March 2011, passed in Mumbai, in terms of consent terms dated 24 March 2011, as signed at Mumbai, filed this Execution Application for its enforcement by invoking Order-21 of the Civil Procedure Code (for short “CPC”) in the Court of Ordinary Original Civil Jurisdiction at Bombay.

2. The Applicant has assigned the debt under Deed of Assignment dated 25 August 2012. The Execution Application seeks to execute the award against Judgment Debtor No.1 and also movable and immovable properties and shares of a private company Respondent No.2/ Judgment Debtor No.2, who is a Director of the Company.

3. This Court by order dated 29 August 2012, restrained the Judgment Debtor not to transfer, alienate or encumber or create any third party rights in the properties mentioned in clause (j) of the Execution Application. Admittedly, the award was never challenged in any Court by any party. The award therefore, as passed in Mumbai, based upon the consent terms, as averred, needs to be treated as enforceable and executable decree in this “Court” as contemplated under Sections 2(e) and 36 of the Arbitration and