JUDGMENT :

[Anubha Rawat Choudhary, J.]

1. Heard the learned counsel for the parties.

2. This arbitration appeal has been filed under Section 37 of Arbitration and Conciliation Act, 1996 against the order dated 16.06.2009 passed by learned Subordinate Judge I, Ranchi in Misc. Case No. 54 of 2007, whereby the learned court below has refused to interfere with the award dated 23.07.2007 passed by the learned sole Arbitrator under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act of 1996). The learned Arbitrator has directed the appellant to pay Rs. 17,05,00,000/- to the claimant/respondent with interest @ 12 percent per annum from April, 2004 till the date of the award and has directed that if the said amount is not paid within the period of 30 days from the date of the award, the appellant shall pay the same with interest @ 14% from the date of the award till the date of payment. The learned Arbitrator has also awarded the cost of arbitration amounting to Rs. 1,56,000/-. The learned Arbitrator, however, rejected the counter-claim of the appella