YOGESH KHANNA, J.

1. Indian Tourism Development Corporation Ltd. (hereinafter referred to as the ITDC) owned various buildings in different cities in India wherein Hotels were established. One such building is in Gaya. A hotel by the name ‘Hotel Bodhgaya Ashok’ was being run from the building. The respondent No.1 : M/s Ashok Chopra & Company was the successful bidder to execute civil, plumbing and electrical works in respect of which a dispute arose. The agreement between the parties having an arbitration clause, the dispute was referred to arbitration, parties wherein were ITDC and respondent No.1.

2. The learned Arbitrator published an award on June 02, 1994 which was filed in this Court in CS (OS) No.964A/1996, in which prayer made was that the award be summoned and be made a Rule of the Court. As per the award, respondent No.1 was awarded Rs.15,14,187.60/- with simple interest @ 13% per annum with effect from July 30, 1990.

3. On May 25, 1996 ITDC filed objections to the award and matter concerning the award remained pending in this Court till when on November 09, 2001 the Government of India took a decision, under its policy of disinvestment to hive-off the hotel busine