Rajiv Shakdher, J.

This is a petition filed under Sections 47 and 49 of the Arbitration and Conciliation Act, 1996 (in short the "1996 Act") to enforce the foreign award dated 21.09.2015 as a deemed decree.

1.1. The petitioner is the original claimant. The respondent herein was also the respondent in the arbitration proceedings.

1.2. For the sake of convenience, the petitioner and the respondent will be collectively referred to as parties.

PREFATORY FACTS:

2. The brief facts, which are required to be noticed in order to adjudicate upon the instant petition, are as follows: The parties herein had entered into a transponder services agreement dated 10.09.2003 (hereafter referred to as "the agreement"). Under the agreement, the respondent was entitled to use C-Band Regional Beam Transponder, on Thaicom 3, for delivery of its television transmissions.

2.1. The tenure of this agreement was four (4) years and nine (9) months. The agreement commenced on 01.10.2003 and was to expire on 30.06.2008.

2.2. In terms of the said agreement, for the services rendered by the petitioner, the respondent was required to pay US $35,834 per month.

2.3. Under the agreement, it was the respondent's obli