1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. CHAMBER SUMMONS NO.274 OF 2009 IN EXECUTION APPLICATION (L) NO.468 OF 2008 IN ARBITRATION PETITION NO.327 OF 2006 WITH EXECUTION APPLICATION (L) NO.468 OF 2008 L.& T. Finance Ltd. ...Claimant. Vs. Mr.Edwin Mascarenhas & Anr. ...Respondent. .... Mrs.Shakuntala Joshi i/b. S.I. Joshi & Co. for the Claimant. None for the Respondents. ..... CORAM : DR.D.Y.CHANDRACHUD, J. August 6, 2009. P.C. The Chamber Summons has been taken out principally for relief under Order 21 Rule 41 of the Code of Civil Procedure, 1908. The Execution Application has been instituted for executing an arbitral award dated 9th June 2008. It is now an admitted position that a petition has been filed by the First Respondent under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Petition (L) 696 of 2009). Once an Arbitration Petition has been filed within 2 the period of limitation, which is not disputed, the award does not become executable as a decree. In that view of the matter, both the Execution Application and the Chamber Summons are misconceived. The Learned Advocate appearing on behalf of the Claimant states that when the Execution Application was instituted, a copy of the Arbitration Petition had not been served and the claimant was unaware of the filing of the Petition under Section 34. Be that as it may, in view of the filing of the Arbitration Petition under Section 34, the execution proceedings cannot lie at this stage until the Arbitration Petition is disposed of. Another grievance of the Claimant is that no steps have been taken to remove the office objections that have been raised in regard to the Arbitration Petition or to move the appropriate Court for early hearing. The Claimant is undoubtedly at liberty to pursue the remedies available to it, in accordance with law in that regard. The execution proceedings, which are founded on the basis that the award has become enforceable as a decree are misconceived. The Execution Application and the Chamber Summons shall accordingly stand 3 disposed of at this stage. It is needless to add that the Claimant would be at liberty to take out fresh proceedings, in accordance with law, after the disposal of the Arbitration Petition. ......