OMP No.439 of 2008 AND Execution Petition No.9 of 2008 15.10.2008 Present: Mr.J.S.Bhogal, Senior Advocate, with Mr. B.S.Attri, Advocate, for the decree-holder. Mr. Neel Kamal Sood, Advocate, for the Judgment-debtor. The Arbitrator had awarded an amount of Rs.8,20,409/- with simple interest at the rate of 12% per annum on Rs.8,15,909/- till the date of award. The principal amount stands deposited along with interest. The dispute remained only with respect to future interest, for which the present execution petition has been filed by the decree-holder, claiming interest at the rate of 18% per annum with effect from the date of the award till the final payment. The judgment debtor has filed the objections to the execution petition, precisely on the ground that the decree- holder is not entitled for the future interest having not awarded. The objection raised by the Judgment debtor stands repelled by the judgment of this court, in J.C.Jhina versus H.P.Housing Board 2002 (1) Shim.L.C. 183, whereby it is held that in view of section 31(7)(b) of the Arbitration and Conciliation Act, 1996, the Judgment debtor is required to pay future interest at the rate of 18% per annum from the date of the award till the date of its realization and the amount of interest awarded by the Arbitrator is also a sum directed to be paid by an arbitral award and would carry interest at the same rate. Therefore, the objection petition (OMP No.439 of 2008,) filed by the judgment debtor deserves to be dismissed. Ordered accordingly. Since the cheque amount has been deposited by the judgment debtor. Vide order dated 3.10.2008 passed by this court it was ordered to be collected by the Registry and kept in CCD Account. The amount, if not already collected be collected and remitted in the saving bank- account of the decree holder, the particulars of which shall be furnished by the learned counsel for the decree-holder, within a period of one week, from today. In view of the above position, the execution petition stands disposed of, as fully satisfied. October 15, 2008 (Surinder Singh),J. (D)