S. Ravindra Bhat, J.

1. The decree holder seeks execution of a decree arising out of an award, which was made rule of this Court, on 20.9.1993.

2. The facts necessary for deciding this case are that on 31.5.1986 a mutually agreed arbitrator directed that the sum of Rs. 11,24,085.56 along with interest at 15% per annum (from the date of the decree to be made by Court), should be paid by the respondent. The decree holder approached this Court under Section 14 of the old Arbitration Act, 1940 (hereafter referred to as "Act"). On 20.9.1993, the Court overruled the objections of the respondent/judgment debtor and confirmed the award, thus making it the rule of the Court, in Suit No. 1283-A/1986. The decree holder thereafter moved this Court for realization of its dues, through the present execution proceedings. The Court took cognizance and issued warrants of attachment of the judgment debtors bank accounts. It was at that stage that the judgment debtor represented on its behalf that an appeal, against the judgment of the Court, dated 20.9.1993, had been filed before the Division Bench.

.3. In the meanwhile, on 5.4.1994, during pendency of the appeal before the Division Bench, t