JUDGMENT

G.S. Kulkarni, J. (Oral) - This is a petition under section 34 of the Arbitration and Conciliation Act, 1996 (for short, "the ACA") by which the petitioners original respondents in the arbitration proceedings challenge the award dated 17 March 2017 passed by the learned sole arbitrator whereby the claims as made by respondent No.1 original claimant have been allowed in the following terms:

"(i) The Respondents do pay to the Claimant a sum of Rs. 16881042/( Rupees One Crore Sixty Eight Lakhs Eighty One Thousand Forty Two Only) together with interest calculated on this outstanding due amount Rs. 16881042/@ 18% per annum from the date of award till the payment by the Respondents of realization there of by the Claimant. Besides this, the Claimant have their right to lien over the mortgaged immovable property situated at Siddha Villa Space - 4to7, Block (2nd), 1st Floor, 27 Marquis Street, Kolkata - 700016 until the payment of decrial amount has been made by the Respondents in full.

(ii) The Claimant can recover the outstanding dues from the Respondents by appropriating the monies, securities, assets or deposits of the Respondents, which are in possession of the Claimant under a