I.P.MUKERJI,J. - (1.) On 27th May, 2011 the arbitral proceedings between the parties commenced. On 24th August, 2015 the award was made and published by an arbitral tribunal. On 23rd October, 2015 the Arbitration and Conciliation (Amendment) Act, 2015 came into force. On 1st December, 2015 the present application (A.P. 1709 of 2015) was made by the West Bengal Power Development Corporation, to set aside an award for a substantial sum of money that had been passed against them by this tribunal.
(2.) Now, the question is whether that award is presently enforceable? Does the petitioner have to take any steps to prevent the immediate enforcement of the award by the respondent, by applying for stay of the award before this court? Is the petitioner required to deposit the awarded sum or secure it in court to obtain this stay?
(3.) Under the Arbitration and Conciliation Act , 1996, before its amendment, if an application to set aside the award under Section 34 of the said Act was validly filed in court, the award could not be enforced during its pendency. Only if it was dismissed the award could be enforced. Not only that, a time period of three months from the date of receipt of the award by the parties was prescribed within which this application could be filed and during that time period and a period of delay of 30 days which could be condoned by the court, the award could not be executed.;