VIBHU BAKHRU, J

EA(OS) No.257/2016

1. Dalmia Cement (Bharat) Limited (hereafter 'Dalmia'), the Judgment Debtor/Objector, has filed the present application under Section 48 of the Arbitration and Conciliation Act, 1996 (hereafter 'the Act'), inter alia, praying that enforcement of the arbitral award dated 31.01.2014 (hereafter 'first award') and the final award dated 30.04.2014 (hereafter 'final award'), be declined. Both, the first award and the final award are collectively referred to as 'the impugned awards'.

2. By the first award, the Arbitral Tribunal has awarded a sum of US$393,500 along with interest quantified at US$ 45,980.20 till the award dated 31.01.2014, that is, till the date of passing of the first award. In addition, the Arbitral Tribunal has also awarded post-award interest at the rate of 5% per annum (compounded annually) from 28.02.2014 till the receipt of payment by the Decree Holder (hereafter 'Xstrata'). Admittedly, the first award is final amongst the parties in relation to the merits of all claims made by Xstrata, other than the claim of costs. The final award rendered by the Arbitral Tribunal on 30.04.2014 is limited to award of costs, whereby the Arb