Rajiv Shakdher, J.

1. The captioned petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (in short the Act) is directed against award dated 31.12.2011/07.02.2012 passed by the sole arbitrator.

1.1 The challenge is laid to that part of the award whereby the learned Arbitrator declined to grant reliefs prayed for by the petitioner qua liquidated damages and aggravated/exemplary damages.

1.2 The learned arbitrator allowed the petitioner’s claim with respect to security deposit and interest thereof demanded by the petitioner. Towards refund of security deposit, the petitioner was awarded a sum of Rs.25,44,000/-. On this amount, the petitioner was also awarded interest at the rate of 9% p.a. from the date the refund of the security deposit became due till the date of the award. The award thus freezes the period as : 01.02.2007 to 07.02.2012. Therefore, interest at the rate of 9% per annum has been crystalized as, a sum of Rs.11,25,720/-. The total amount thus, awarded, in favour of the petitioner, which includes interest, is a sum of Rs.36,69,720/-. Future interest is also awarded at the rate of 9% per annum from the date of the award till the date of