Valmiki J. Mehta, J (Oral):

1. This petition under Article 227 of the Constitution of India is filed by the judgment debtor impugning the order of the executing court dated 26.7.2013 by which the executing court has granted interest to the respondent/decree holder @ 10% per annum from 25.5.2005 till 30.6.2012.

2. The issue before the executing court was whether the liability of the petitioner/judgment debtor to pay interest @ 10% per annum in terms of the Award for the post award period had ceased on account of depositing the amount on 25.5.2005 by the petitioner/judgment-debtor in an appeal filed against the order/judgment dated 04.1.2005 by which objections filed by the petitioner/judgment debtor under Section 34 of the Arbitration and Conciliation Act, 1996 were dismissed.

3. The aforesaid issue arose in the facts of the case where an Award dated 27.5.2003 was passed in favour of the respondent/decree holder for an amount of Rs.13,39,866/- @ 10% per annum pendent lite and future interest along with costs. The petitioner/judgment debtor filed objections to the Award under Section 34 of the Arbitration and Conciliation Act which were dismissed on 04.1.2005 and against w